Seeking advice about starting

[Kenny Zheng]

Hi everyone, I am 24 years old and brand new to real estate. I've read all the books and watched all the videos I could to learn about real estate investing and it is 100% something that I want to pursue. At this point I feel like a know a good deal about real estate but just lack experience. I am super ambitions eager to get my first rental property but I am seeking guidance for the next steps. Currently in my free time I just look at listings of 3bed 2bath under 250k in my area and run the numbers of cash flow and coc return in a spreadsheet I made and it seems like good deals are rare to come by. Should I wait for a change in the market? Should I reach out and connect with RE agents to chat?

[Jeff Roth]

Hi Kenny-

Great question! You are 24yrs. old and new to real estate investing and have analyzed deals under $250K for 3 bed/2 bath houses near you and the numbers don't work. You wonder what to do next.

Since you say you have read the books and watched the videos but lack experience, I would find an experienced mentor to help you find your first deal.

You can find your mentor in another investor, a local property manager, or an investor friendly Realtor with a teacher's heart.

Ideally, you want a mentor who has investment experience and can recommend the rest of the team you need to be successful especially if you start looking out-of-state.

Try expanding your search area locally first but there are plenty of markets in Michigan that cashflow at or below your search criteria.

To Your Success!