My multi-million dollar first deal at 20 years old
Yesterday, I closed on my first commercial deal. It is a $2.3 million student housing deal in Oxford Ohio. I have been taught how to evaluate commercial deals from Jeff Greenberg (who was on BP #115). I am also learning to syndicate commercial deals, which is how me and Jeff closed on this property. If you are going to get started in real estate, make sure you have a mentor. I would consider Jeff my mentor. All you have to do is go to a Real Estate Investment Club and find out what you want to do and learn from someone in that field.
I see real estate as a way to have cashflow to reach financial freedom and retirement. I am 20 years old and I am going to college currently. I have time for compound interest to work on my side.
I see this deal as a start to get the ball rolling. I want to do many more deals and build up my passive income and assets. I see syndication as a good way to acquire larger properties and achieve passive income.
Have a good day.
Nick