How should I continue learning about the real estate world?

Question

Hi, I'm a sophomore in highschool. I have been listening to the BP Real-estate Podcast for a little over a year and a half now and have read a bunch. I am wondering what I should do going forward to be able to make a career out of real estate.

Brennen Thompson · Answer

Hey dude!

I respect the hustle! My best advice is to start networking with people that are ACTIVELY doing deals. Getting around these people will get you familiar with the language, environment, etc. so that you're ready to roll when you find some cash. Hell, some of these people might even start paying you to work for them or let you partner on a deal or two if you can prove that you're smart/valuable!

Eliott Elias · Answer

Be relentless and laser focused on your mission. Resistance will come at you in all shapes and forms, from family, friends and random people. Surround yourself with full time real estate investors and the idea won't seem as crazy.

Ace Kaspar · Answer

Hi Max,

I would recommend reading books like BRRR or Rich Dad Poor Dad but there are many books out there to read from. Also podcast from BiggerPodcast are another choice to go with and they have three of them. Another resource would be learning through experience when you're buying or find a mentor.I hope this helps and let me know if you need anything!

Patrick Drury · Answer

@Max JohnsonFind a mentor that already is where you want to be and learn from them on how you can get there. You are probably going to ask why would they give me the time of day. If you provide value to them they will mentor you. Find ways to add value and they will give you the time of day. For example, maybe they are an investor looking for more deals. Hop on the phones and cold call, go knock on doors and find some deals. Maybe they are having a bottleneck with workers not showing up to their rehabs. Offer to swing the hammer and help in their rehabs for free.

Jared Hottle · Answer

@Max Johnson That is awesome man! I think it is time to take action! Going to real estate meetups can be huge. Meet people and parlay that into a 1 on 1 meeting. Listen to them and build a relationship and see if you can partner with them where you find a deal and they bring the money or see if you can do some work for them and learn the business while helping them out. Maybe being a handyman, showing assistant, cold-calling, etc.

Nathan Gesner · Answer

Welcome to the BiggerPockets forums!

There are at least 117 ways to answer this question. Seriously, you just need to read up on the different options and see which one you feel best fits you.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.5. Study the market. You can learn to do this on your own or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR that works with investors and knows how to best help you.

6. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error. You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.

Rob Glasser · Answer

find a successful, producing real estate agent, and work for free or cheap, and learn how deals are done first hand.

Marci Mayes · Answer

Congratulations on learning about real estate while you are still in high school. If you have not done so already, I highly recommend First to a Million written by Dan Sheeks and published by BP. I would get a W2 job while you are in high school and start saving for the downpayment on your first house. When you finish high school, you should have enough saved for a downpayment. The book outlines ways to qualify for a mortgage BEFORE you start accumulating consumer debt. You can purchase your first house and start house hacking after you graduate. Reading books, listening to podcasts, finding mentors are all great; but I have found that experience is the best teacher. Set yourself up for success. Get out there and get started!

How should I continue learning about the real estate world?

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