Looking to learn more on how to buy my first property.
I am currently a College Baseball player for Indiana University and will be graduating this spring. Post graduation I plan on playing professional baseball and investing into real estate. However, because of my unique scenario I don't know which route would be best for me to break into this industry. With that being said I would love to talk with someone who has experience in investing in Texas and picking their brain about potential steps I should take.
Certainly! It's great that you're thinking about investing in real estate while you're still in college. Investing in real estate can be a good way to build wealth over the long term, and it can also provide a potential source of passive income.
There are a few different factors that you'll want to consider when deciding how to break into the real estate industry. One important factor is your investment goals. What are you looking to achieve with your real estate investments? Are you looking for short-term gains, or are you more interested in long-term wealth building?
Another factor to consider is your risk tolerance. Investing in real estate carries some level of risk, so it's important to understand your own appetite for risk and choose investments that align with your risk profile.
It's also a good idea to do some research on the local real estate market in the area where you're interested in investing. This will help you understand trends in property values and rental demand, which can help you make informed decisions about your investments.
Hope this helps you!
Quote from @John Mathew:Thanks for the input! If you don't mind sharing, what strategies or goals did you use to secure your first deal? What would you do differently looking back on it?
Certainly! It's great that you're thinking about investing in real estate while you're still in college. Investing in real estate can be a good way to build wealth over the long term, and it can also provide a potential source of passive income.
There are a few different factors that you'll want to consider when deciding how to break into the real estate industry. One important factor is your investment goals. What are you looking to achieve with your real estate investments? Are you looking for short-term gains, or are you more interested in long-term wealth building?
Another factor to consider is your risk tolerance. Investing in real estate carries some level of risk, so it's important to understand your own appetite for risk and choose investments that align with your risk profile.
It's also a good idea to do some research on the local real estate market in the area where you're interested in investing. This will help you understand trends in property values and rental demand, which can help you make informed decisions about your investments.
Hope this helps you!
Hey dude!
Assuming you're heading to the minors? If so you might wanna try your hand at wholesaling. Could get ya $5K+ per deal and you could do it when you're not training/at practice/games/on the road/etc. Would be a great way to build your knowledge base without putting any sizable cash into the game
Quote from @Brennen Thompson:That's is a path that is interesting to me. I haven't really considered it to much but you make some good points. Do you have any tips on getting started wholesaling?
Hey dude!
Assuming you're heading to the minors? If so you might wanna try your hand at wholesaling. Could get ya $5K+ per deal and you could do it when you're not training/at practice/games/on the road/etc. Would be a great way to build your knowledge base without putting any sizable cash into the game
Just PM'd ya!
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Austin, TX
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Happy to help.
Quote from @Craig Yoho:Hi Craig. I've been a real estate Broker in Indianapolis for a long time. I know that TX is more pricey than Indy. But I am not familiar with the availability/price range there for investment properties vs here. Maybe they also have good deals...
I am currently a College Baseball player for Indiana University and will be graduating this spring. Post graduation I plan on playing professional baseball and investing into real estate. However, because of my unique scenario I don't know which route would be best for me to break into this industry. With that being said I would love to talk with someone who has experience in investing in Texas and picking their brain about potential steps I should take.
You could always consider buying in the Indianapolis area instead of TX. Unless you plan on House Hacking when you move.
About 90% of my clients don't live in Indy! That's just how much investors know that Indy is still one of the best affordable markets.
I'd be glad to talk over this market with you. All of my contact info is on my Profile. Best of luck with your move if we don't connect!
I'm an IU alum that lives in Houston. We own 2 furnished (one mid term, one short term) out of state. We did do a live in flip here as well and know the local market. Please send me a DM if you think that I could be helpful. I've got nothing to sell.
Idk if you wanna listen to a Boilermaker but I'm down to connect lol
Not in Texas but investing in RE basically the same where ever you are (I'm out of NJ, tough market), I'm more than happy to help with any questions you have.
Quote from @Craig Yoho:
I am currently a College Baseball player for Indiana University and will be graduating this spring. Post graduation I plan on playing professional baseball and investing into real estate. However, because of my unique scenario I don't know which route would be best for me to break into this industry. With that being said I would love to talk with someone who has experience in investing in Texas and picking their brain about potential steps I should take.
There are tons of ways to break into the industry and there is no perfect way. Each route will help you learn what is needed to succeed, find your area and select one you feel most comfortable with. Some may try and draw you in promising high returns but lets be honest, no one really knows that.
A safe bet for me when I started was finding a single family that was under market value, in a great area that I know I could rent out as a short term rental and worst case, I could do medium to longer term rentals.
You never want to put all your eggs in one basket. If you want to start a STR then make sure it can also sustain being a MTR or LTR. That way if it fails in the STR then you have back ups.
Wholesaling/arbitrage is not for everyone and I am not a fan of it as there is a lot of grey in that area.
Stick to what you feel is best, network within your area to start and understand your market before pulling the trigger.
Always happy to talk more in depth, set up a zoom video/google meet or whatever works. I am always happy to meet new people and feel free to reach out!
Best,
Ace
Quote from @Craig Yoho:
I am currently a College Baseball player for Indiana University and will be graduating this spring. Post graduation I plan on playing professional baseball and investing into real estate. However, because of my unique scenario I don't know which route would be best for me to break into this industry. With that being said I would love to talk with someone who has experience in investing in Texas and picking their brain about potential steps I should take.
Given your situation I would consider house hacking. Buy a single family house (or duplex) with primary residence financing (Only putting 3.5-5% down). Rent a few rooms to teammates, then when you get called up rent out the entire property.
Quote from @Craig Yoho:
I am currently a College Baseball player for Indiana University and will be graduating this spring. Post graduation I plan on playing professional baseball and investing into real estate. However, because of my unique scenario I don't know which route would be best for me to break into this industry. With that being said I would love to talk with someone who has experience in investing in Texas and picking their brain about potential steps I should take.
Hey man, inspiring stuff you got going on! Not sure how you found BiggerPockets but welcome to the world's biggest investing community. I watched an excellent video while trying to grasp this world: Brandon Turner's webinar on how to buy your first rental property. (Watch that webinar here).
If you're looking for market-specific professionals, use our find-an-agent tab to locate an investor-friendly agent or our network tab to connect with other professionals like lenders, property managers, etc.
Good luck on the journey, man!
Hi @Craig Yoho,
I'm based in Southern California, but I have started my out-of-state real estate journey in Indianapolis. Now, I have a portfolio of Short Term Rentals and Long Term Rentals. I've started looking at Columbus because my business partners have found success doing Mid Term Rentals there and the returns are solid.
I've also helped other investors with their DSCR loans and flip projects in Columbus. Happy to share my experiences and chat with you more if you're interested.