Updated 28 days ago on . Most recent reply
If you could rewind time and give your old self real estate advice what would it be?
Hello! I am a 24 year old wanting to get into real estate investing. I am thinking going the FHA route but wanted to ask the question listed above. If you could go back in time when you first started in real estate investing what advice would you give yourself? Also what are your recommendations for market areas? I live in a college town so finding tenants I'm not necessarily worried about. Having the property destroyed is my worry. The local real estate management companies do a good job at preventing or getting money back if that's the case but having a management company taking a percentage I'm not sure is a good idea? Again I'm open to any tips/recommendations just trying to get my first property. Thank you in advance!
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Not in REI yet myself, but the lesson from my own side hustle: don't wait until you feel ready. The first deal will teach you what no podcast or course can. Start small enough that a mistake is survivable, then build from there. Also, talk to people who closed something in the last 12 months, not the ones who closed in 2015. Markets shift fast.