Good evening BP fam!
I'm still fairly new to the world of Real Estate, although I've been researching investment strategies for the past couple of months, I still have a ton of gray areas and questions on where to kick start my investment career. A little background on myself, I'm 21 years old, still in undergrad and in the final stages of attaining my salesperson license. Once I get licensed, I plan to sign with one of the major brokerages, KW, due to their amazing training programs. Though I'm excited to start my new career as an agent, it's not where I want to stay. I want to build capital to begin an investment portfolio but I'm not sure where to start. Any suggestions on how to actively invest while being a salesperson? Short sales? Seller financing? Assignment of contracts? Anything helps,
Thanks in advance!
@Lauren Patrick Congrats on starting of your career! You should start by talking to a good lender who has dealt with investors before. If I were in your shoes, I would probably look to house hack, as that is the cheapest and easiest way to make two quick steps towards financial freedom.
Just be aware that lenders in general don't like real estate agents as we are considered risky. If you have a significant other with a W2, that would help tremendously. If not, you might need to find a co-signer at the front end.
Thanks John, I'll definitely look into House Hacking for sure. As for partnering with a lender, would you mind going in depth of why I'd need to partner with them and what the conversation would consist of? I apologize in advance for the obvious questions, I'm just very new to this business and I want to gain clarity in all aspects. Thanks!
Congrats on your future real estate career! I would suggest that you get a full time w-2 Job and do real estate on the side. Save every dime you get. Mortgage companies needs to see consistent income in order to lend funds. I’m a realtor/ investor and full time teacher.