First steps to start investing and planning for your first deal.

First steps to start investing and planning for your first deal.

Member since 2018 · 1 post · 0 votes

Hello BP community, 

I am a student in my early twenties in Canada with one year of school left in a Mining Engineering degree. I am currently working for an underground gold mine and I love the work; however, I am somehow always drawn to real estate investing and find myself browsing the web for beginner advice and how to get started. The amount of information available can be overwhelming but I try to learn something every day. I am looking to start investing as soon as I graduate but currently there is a lot of uncertainty and I feel somewhat uneducated. 

So my questions are: What are some first steps to overcoming the uncertainty and actually making my first deal happen? What is the best strategy to get started? What concepts do I absolutely need to know to feel confident to go out there and make it happen? 

On a side note: What is your favorite book for a beginner real estate investor? 

Thanks! 


Chris

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  • Rental Property Investor · Lodi, CA · Member since 2018 · 206 posts · 115 votes
    8y
    @Chris Fisher I’d start with the basics. If you don’t own real estate yet and are looking for your first deal look at small multi families. 2-4 units. Best way for anyone to get started. House hacking is a similar options but you’d have roommates. Depends on your preference. Then I’d learn about the different options real estate investing offers. Listening to all the podcasts is a great start. For books there’s always the basics; - Rich dad poor dad - landlording on autopilot I also recommend; - The Richest man in Babylon - The intelligent Investor Good luck! - Mike
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