Bothell, WA · Member since 2015 · 2 posts · 2 votes
I currently have around $10,000 saved up and looking to get into real estate but I am not sure where to begin. I've currently bought the audible version of how to get into real estate with no down and listening to it.
I'm more interest in flip properties. I'm extremely good at looking at houses and making it look better.
This is epic! hats off to you:)
I am in a similar situation in the sense that I am a student looking for my first purchase.
Although being in South Africa it's quite a bit harder to get a loan and such with "minimal" cash down. I know overseas the government helps a lot and you don't need to have a massive amount down.
My plan is to buy relatively cheap for my first time ($55k equivalent) with a 10% down.
Everyday I try to browse online listings to start getting an idea as to how much apartments are costing, and to get better ideas as to what units cost in the different areas.
All the best man, you are already better off than most people your age!
Welcome @Dael Cho! I'm an 18 year old as well who is already in real estate. I chose to venture down the path of a real estate agent because it requires less money to start-up... and it becomes very difficult to qualify for conventional loans without a solid employment or credit history. So working as an agent seems the right path for me, because I can learn about the industry without having to put large amounts of money in. The eventual goal for me though is to transition into investing in real estate myself and not just doing it for other people :).
Welcome aboard. It's great that you're getting start so young!
While there a lot of ways to get into real estate investing from a transaction standpoint, and I'm sure you'll get a lot of advise in these forums, there are also ways to get involved with real estate that don't necessarily involve buying something.
For example, I started a meetup out here in Korea and have helped connect investors and educate others. The experience was great for me because it forced me to learn a lot (so I could guide others) and provided me with a lot of access to investors. I invited some BP Bloggers (including Joshua Dorkin and Brandon Turner) to speak out our meetups virtually and in the process, was able to make some great connections.
I've also helped other investors by providing 'consulting.' Basically, I've talked to investors and in the process, have found out what some of their 'pain points' are and have offered to help them out. In some cases that was organizing business systems, and in other cases, helping to provide them strategic and planning advice. This has led to another partnership with investors. I have 15 years of business experience so I leveraged what I knew, even tho it was related directly to REI.
I've also studied online marketing because I know that is something that most investors don't have as much time to focus on. By being able to help out in this way, I'm able to build relationships that can possible lead to other opportunities.
I'm sure you'll find ways to invest that $10,000. I wish you the best of luck. But I'd like to let all investors or would-be investors out there know - there are more ways to get involved than just transactions! So that $10K can be one of your strategies, but if you get creative, you can find even more ways to get involved.
Our members are mostly overseas investors so if you ever want to talk about the process of finding properties while living abroad, feel free to reach out. I bought my first SFR in Jacksonville, FL last year and I did it all while living in Korea.