New to this! I wana get my hands wet. How do I start?

Question

Just finished reading the book Rich dad poor dad and it made me want to invest into real estate. I have no experience in real estate whatsoever. I want to start investing into assets that will make cash flow. Even tho real estate scares me and i dont have no knolwedge whats soever. I wanted to kno whats the best way to get in for a rookie thats not goin to scare me out the water.

Dan Weber · Answer

One of the easiest ways to get started right now is with a owner-occupied house hack (live in one unit and rent out the other). I would try to read up on a few different real estate strategies and determine what the best strategy would be for you given your current life circumstances. There are several forums and articles on BiggerPockets that could introduce you to some different strategies. Also, here's a reading list that could help:

https://www.biggerpockets.com/blog/2015/11/13/7-real-estate-books-beginner-investors/

Taylor Roeling · Answer

@Raymond Olivera-Suarez you've come to the right place! It can be very overwhelming to even think where to start. Writing down goals along with your financial plan is a good place to start - sometimes this helps you see what is more realistic for your particular situation! There are lots of online tools available to help landlords as well. Best of luck!

Shawn Ackerman · Answer

@Raymond Olivera-Suarez I would suggest learning what constitutes a “deal” analyze as many properties as you can using metrics that make sense for your path.  For me price to rent ratio, cash flow, cost of entry and landlord tenant laws are what I use to analyze a markets and a deal.  All the best. Persist and you will win!!!

New to this! I wana get my hands wet. How do I start?

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