How to start on investing in real estate

Question

With 20K for investing in real estate, where is a good place to start?

Anthony Katsonis · Answer

@Tarik Smith

There are some good suggestions here. Educate yourself. Listen to the BP Podcast. Follow the path that others have laid out and followed.

I personally think househacking is hands down one of the best ways to dip your toes into the water of this business IMO. If you don't know what that is, look it up. There's ton's of forums on here about it. Best of Luck!

Tarik Smith · Answer

@Rachel H.

Interesting! This is more my style! Thank you Rachel I’m definitely going to be coming to you guys with my questions!

Anthony Katsonis · Answer

@Tarik Smith

And as far as the RE License... Not necessary to do do business as an investor, but in my experience it has been extremely beneficial for lots of reasons. First off, exclusive access to the MLS 24/7, the ability to create other income streams in the RE Business, i.e. representing buyers and sellers, and the added benefit of knowing the ins and outs of a real estate contract and how to negotiate in my parties favor.

Jim Goebel · Answer

@Tarik Smith

Hi Tarik

I'm not really sure, to be honest.  Current market I am not sure you can buy something with cash for that amount, especially in the RDU market.  There may be markets around the country where you can get into something for that - but a lower risk and longer term thing that would make more sense for most people getting started is not a heavy work project type house, it's the house hack or simply buying a good long term asset and searching vigorously for ways to get good experience along the way.

Perhaps the experience you are getting in your career may help?  Will depend of course on what you have access to with regards to getting that experience.

Rachel H. · Answer

@Tarik Smith It's best to start with your education. Read as much as you can. Listen to podcasts about real estate investing. Then formulate a plan to get there. It's different for everyone. For me personally, I started with single-family homes then went into mobile home investing buying properties for all cash. It's been quite profitable. If you can start with a small deal, then you will see if it's right for you. If it works with you and your personality, then you can continue on to do bigger deals in the same asset class. If not, you can find something else to invest in. Good luck!

Tarik Smith · Answer

@Anthony Katsonis

Anthony, i appreciate you getting back to me so soon.

My over all objective is to own property! Homes, duplexes, land and if it’s not a super hassle maybe apartments. I’m just not sure where to start. Should i invest in an actual real estate license first?

Tarik Smith · Answer

@Josh Oaten

Sorry for the late response! I appreciate the feedback josh. I’m out here busting my butt to get this thing underway!

Josh Oaten · Answer

@Tarik Smith

Like others have said here, education is the first step you need to take. You will need to learn about the different real estate strategies there are and narrow it down to the one that you think best suits you. I am in multifamily apartments, but it took me a while looking through different avenues to get to what I wanted.

Once you do this you will find what you need to do with your money. That may be buying further education in the niche you want to pursue or use it to start doing deals.

Hope this helps!

Anthony Katsonis · Answer

@Karen Zhao

I'd give you the same advise that's been given to the OP. Best of luck!

Karen Zhao · Answer

Have 30K for investing. How should i start? Would anyone like to give some advice?

How to start on investing in real estate

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