Where do I start! im lost on what to study specifically

13 Replies

Hi, my name is sharif hasan and im 18 years old and am going to school to get my real estate license next spring. My background is stock trading and investing since i was 16 years old. I was always focused on investing in real estate since i was already developing a investing mindset through stocks. Now that im at the age, im stuck, i do not know what to study. I like to be proactive when i'm into something. I picked up some books about LLCs and developing a business and ordered a real estate law for dummies book lately. But  i am still feeling like im not making the right moves. Like should i be analyzing properties in my area day in and day out or should i continue to focus on just the law side of everything? please help me out. Thank you. By the way, huge thanks to biggerpockets

Albuquerque new mexico

I would first ask your self what area of real estate investment am I looking to invest in.

I'm a newbie myself; started really looking into real estate since maybe July or August this year. Really interested in wholesaling. Read a lot on it; watch videos. Just attended a meeting last night about it. Recently I take addresses of vacant looking houses and look up who own's it, tax info, etc. 

Hey Sharif,

I hope all is well in New Mexico! Probably a lot warmer than it is up in RI.

Anyways, I would like to know more about your knowledge in finance? I feel as though that is the hardest part for most RE investors to grasp. You’re on the right track though by picking up and reading about every aspect of RE investing.

On a base level, RE and finance (stock trading) are similar. You’re trying to capitalize on inefficiencies of the market. Just be weary that RE is much more long term and I have found that many finance ideologies do not transfer directly to real estate.

My advice would be to hit the podcasts and maybe gain some technical knowledge. Read a book on how to build a house. You can see the best deal in the world and a guy who talks the talk AND walks it will get it over someone who just walks it. Does that make sense?

Anyway, good luck! Hope this helped!

Tom

@Sharif Hasan Greetings,

I think you nailed it......analyze properties day in and day out while learning the legal side of things. Learn your market frontwards and backwards. The benefit of doing this is that you will be able to easily identify a deal and put yourself in a position to pull the trigger quickly.

Happy investing! Peace!

Originally posted by @Sharif Hasan :

Hi, my name is sharif hasan and im 18 years old and am going to school to get my real estate license next spring. My background is stock trading and investing since i was 16 years old. I was always focused on investing in real estate since i was already developing a investing mindset through stocks. Now that im at the age, im stuck, i do not know what to study. I like to be proactive when i'm into something. I picked up some books about LLCs and developing a business and ordered a real estate law for dummies book lately. But  i am still feeling like im not making the right moves. Like should i be analyzing properties in my area day in and day out or should i continue to focus on just the law side of everything? please help me out. Thank you. By the way, huge thanks to biggerpockets

Albuquerque new mexico

Focus on analyzing deals, getting to know your market and defining your goals. Legal side is best handled by those experts, which also means developing a relationship with a REI attorney. Congrats and welcome!

You need to figure out your goals is it financial freedom through passive income?

Improving neighborhoods flipping?

Figure out what you’re good at or interested in getting good at. If you aren’t into sales or learning it or you don’t like people avoid wholesaling.

Read a lot your library will have a lot of these:
Rich Dad, secrets of the millionaire mind, set for life by Scott trench, 10x by Cardone, the psychology of selling by Tracy, smash your alarm clock by Jason Buzi. Listen to all the podcasts by bigger pockets and topics you find might be a fit for you.

It is easier to get loans with a w-2 job and nothing wrong with learning on someone else’s dime. Get a job doing for someone else what you want to do.

@tom Conant  thank you for the advice. My background is mostly focused on day trading/swing trading big and mis size companies such as amd, apple, Coca cola, CenturyLink, gw pharmaceuticals etc. I like to trade different sectors of the market. Whatever has volatility and good setups for me. I taught a class this past fall on investing and money management also. If you have questions please ask me. I'm not Warren buffet but I have stocks making me money when I sleep. 

I'm new as well. I'm currently really working on understanding how to evaluate and analyze properties correctly. After reading many posts on here, it seems all it takes is a miscalculation on something and it has the potential to turn a property's profit upside down.

I’m pretty new as well. I’ve been sitting on the sideline just learning for the last year or so, and I remember in the beginning it was very overwhelming to know which direction to go. I started just by listening to podcasts during my commutes to and from work, and the BP podcasts especially are pretty diverse in that you get a taste of several different strategies just by listening to the interviews. That can help you narrow it down to an area you’re interested in.

Also, another thing to consider is what strategies are available to you given your current circumstances? Do you have a lot of time but not a lot of money? Wholesaling or “bird-dogging” would be a good place to start your research. Do you have a lot of cash laying around but not much time to analyze deals? Then buy-and-hold and/or private lending is probably a better way to go. I’d start with taking a look at what you have right now in the way of capital, time, or other skills and see what strategy those seem to fit into best, then research the hell out of your chosen strategy. Good luck!

@Sean Walton i'm focused on  buying and renting out properties. Thank you for the list of books ill definitely look around for these.

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