Student, Investor, Salesperson

[Dalton Tahy]

Hey everyone! As the title says I'm in the beginning stages of a my journey in real estate. I just moved to Phoenix/Tempe from Boston (learned about the price to live in that city the hard way haha) and I'll be finishing my finance degree at Arizona State. Also, I'm about to take the state exam in Arizona to become a licensed real estate salesperson. While I finish school I want to work, at some level, for a brokerage and continue to build the savings and connections needed to start investing in my own properties / making a career in real estate. I would like to purchase my property in the next 12-24 months, ideally before I graduate. My father is a real estate broker out east and is eager to partner with me on this journey as well.

I guess my question to you would be, what is the logical way to continue or what would you do if you were in these shoes? I have a pretty good framework for what I want to accomplish but the steps to get there are quite murky, as I'm pretty new to this whole other world. Any input would be greatly appreciated!

Thank you all so much!

Dalton

[Jaron Walling]

@Dalton Tahy I have a friend that lives in Boston and he has no plans buy RE because it's so expensive. He enjoys the outdoors, living close to work, and the public transit system. I could see him moving somewhere else. Great city none the less and I love visiting.

Everyone's journey starts different. The logical way to find success is by starting slowly. You could have $1,000,000 between you and your dad but money is only one piece of REI. You need market research and understanding of the numbers otherwise you build nothing. You need a budget and should give every dollar a purpose. You need a bucket of cash for reserves, emergency repairs, or leverage to find/buy/create a good deal. Doesn't matter the strategy, location, or unit count. Get any of this out-of-order and you're creating risk, over leveraged; neither of which you want to do in 2024.

Try define what strategy is more appealing to you (not anyone else). Gear the job hunt towards that and lean in. Maybe it helps you along the journey to buying your first property. 

Don't listen to people who have never owned income producing RE. You can't learn very much and it's usually fear based discussions about terrible tenants (my dad does this). Find people with like minded goals. Cheers.

[River Sava]

Hey Dalton, 

I am from Boston as well (Newburyport if you know the area). Sounds like you are on the right track. I suggest looking into house hacking right now. Happy to connect and chat further.  

[Patrick O'Sullivan]

Hi Dalton. I agree with looking into house hacking. There are duplexes, triplexes and fourplexes in Tempe/Scottsdale as well as houses that have guest houses in Tempe. If you need help, or just want to talk about the market, I'm available.

[Lien Vuong]

If you want to learn about the local market and plan on being there for some time I would join a RE team to understand the geographical nuances of the area and also introduce yourself to the community. RE is such a local game so knowing the streets and the neighborhoods are very important for your years ahead whether it is to Buy and Hold or to Flip. 

[Jake Kain]

@Dalton Tahy Welcome to BP and Arizona! I took a similar path when starting in RE, but I was born and raised here in AZ. I got licensed in Dec 2017 and went full time as an agent/investor in 2019. I am happy to share some experiences and perspectives with you.

The biggest thing I could suggest is to network. Go to as many meetups and events as you can and find the ones that resonate with you. There are so many out there and many of them will not be a good fit. However, the quicker you can start building a network, the quicker and easier you can start making the right moves in your journey!

Shoot me a message if you want some suggestions or just want to connect.