I am currently 21 years old and attend Texas A&M University. I am originally from the DFW area which is where I would like to work once I graduate. I currently work as an intern for a local real estate company here in the Bryan/College Station area so I am just getting started with real estate. However, I want to get into investing as soon as possible. I guess my question is what should I do to start?
Hi Jordan, you are already doing two things right, learning by being on Bigger Pockets and working for a real estate company, you will make some connections there that will help with your pursuit in acquiring and running real estate. Another thing you can do is join your local REIA and network with other investors in the area. If they offer classes and educational opportunities, I would make sure to attend those as well. Instructors are a wealth of knowledge and you can propel yourself forward when armed with the right education. I would also look for some realtors in the area who work with rental properties and let them know what you are looking for so you can get set up on an automatic search to see the inventory as it comes on the market so you can practice analyzing properties and eventually make offers. Also look into the different bank financing options that are available to you so that you can understand what you will need to get into your first property in terms of finances. Know what your goals are for the short and mid term and strive to hit those goals. Hope this gives you a bit of direction.
@Dorothy Butala This helps a lot I genuinely appreciate it. I will look into all the things you mentioned. I want to get started as soon as I can. Again, thank you.
Hello @Jordan Brown ,
Dorothy is absolutely right, you have already taken some huge first steps just by getting your foot in the door! There is a vast wealth of free information and training available to you on BiggerPockets, so definitely take advantage of it. The community here is very knowledgeable and supportive as well, so ask any questions you may come up with! There are other forum-based community websites as well, such as LandInvestors.
We are wholesalers of many types of properties, and we do it through direct mail acquisition. We pull assessor data (through a direct link that we have) of the type of properties in the areas we want and send ALL the property owners an offer.
We scrub the list to remove things like: properties with a mortgage, duplicates, etc. and spend a tremendous amount of time on pricing, because although these offers may be a lot less than retail, they are not out of the question. We explain in our offer letter to sellers that we are serious investors, we are not agents/brokers, we pay cash, and are prepared to close in as soon as x days. Then we sit back and wait for the motivated sellers to call us. You can of course edit this model to fit how exactly you plan on purchasing and what specific property type you are looking for.
I can confidently say that IT WORKS, and this is how we get there first. By the time a deal reaches the MLS, someone else has already beat you to it. Additionally, knocking on doors ("driving for dollars") is an outdated way of doing this and honestly isn't worth your time. We now have DATA and computers and direct mail. The data source really is the answer you're looking for.
Please feel free to reach out to me if you have any additional questions - I would love to help!
At your point I think you should read and learn as much as you can. Find out what your interested in;
Buy and Hold
This will come with research of what you want to do, as well as get a better idea of finances. If you are looking to do your own thing or partner with someone can give you an Idea on how much you might need for your first deal
Reach out anytime!
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