New To Real Estate Investing and work on Rental Properties

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Hey I’m 24 years of age and have been thinking about real estate for the past 9 months now. All I want are rental properties. I could really use a mentor and advise me with my new trade and help me get to my goal. I’m in the Atlanta area and I’ve been to quite a lot of seminars but haven’t really connected with many investors. Or anyone who wants to pass down some knowledge to me. Overall I’m interested in investing in rental properties but need help with funding and just making the “right” decision during my deals. I’m totally not expecting anyone to do the work for me but hoping to build a long term business relationship.

Hello and welcome to this site Teaira!  Nothing I say is meant to hurt you personally.  Buying a piece of property that is considered a commercial property (5 plus units) is highly recommended.  If you have heard that you need experience before you get into apartments is a myth.  Work your way up in quantity that will ultimately allow other people budgeted and paid for Property Management Company running the daily operations and you are responsible to manage the management company without having to come out of your own pocket.

I have heard that it takes about 30 units before you can afford a management company as a regular expense that property will pay for.  Being able to add-value should help you increase the value.  Having positive cash flow including any debt service paid plus any other indirect expenses on day 1 of ownership is usually the way to go.

The more units, the better. A single family home with just 1 front door is very risky. I've been a member on this site for about 5 years and I have seen as many bad stories as good stories on SFH's. Most of the good stories have come from people that owned 20 to 30 houses at least and usually more.

I am 61 years old and I'm bedridden so I spend 7 days a week, full time learning about real estate learning including book reading which I can complete each book in about 2 weeks.  If you cannot own them by yourself , seek out a Partner(s) that want to do that but don't have the time.

It can help you to form a Partnership just have everything in writing and in detail.  Learn to hear "no" and don't take it personally.  Just realize that you do not get 90% of your offers and realize it's just a part of business.  It is a numbers game.  The more offers you do, the more opportunities you'll get.

I hope something helps you.  If you think I can help you in anyway, please contact me through this site because I am on it just about everyday.

Good luck to you!