Where to Start

Question

I am a fresh college graduate looking to begin in real estate investing. From what I have researched so far, my plan is to get my head down and save for my first down payment on an FHA loan property and possibly house hack it. I’ve began by taking a course for my state real estate license. In hindsight sight this may have been an unnecessary first step but I figured it couldn’t hurt. I have lots to learn and have really just dipped my toes into the process so any experienced investors that can warn me about common beginners mistakes would be greatly appreciated.

Daniel Jantz · Answer

I majored and graduated in both marketing and business administration.

Aaron Zimmerman · Answer

@Daniel Jantz I would sign up for a credit card asap if you're concerned about credit history and/or being an authorized user on  a family members card as that will improve length of credit history

Aaron Zimmerman · Answer

House hack for sure is the best way to young investors.

I'd recommend learning the fundamentals of personal finance first, then start networking with local investors to increase the odds of your success.

Alyssa Porter · Answer

Those are good majors! I'm not a professional by any means and still learning, so you can take this with a grain.

If you want to become a real estate agent, that's a good path. Though if one day you want to sell your property, I'd say becoming a broker would be a good investment so you can avoid those broker fees and represent yourself as a buyer/seller. You should focus early on about setting up the proper accounts so your finances on the properties you invest in don't get mixed up.

Daniel Jantz · Answer

That’s where I am starting. My goal is to save around $40,000(I'm not positive that this is a good goal) and learn up on rehab and how to spot a good deal. I am debating on starting with a hard money lender to get around my lack of credit history. Regardless I have a lot of learning to do before considering a purchase.