So I live in Miami and I am 18 just graduated high school and I would like to start investing in real state. I want to buy a house but I do not know where to start, because I am dead broke. I started watching videos on how to start of with no money and one video told me to come to you guys for help. So can anyone help or be a guid to me on how I can invest in real estate.
Hi @Isaac Compere listen to the BP podcasts on here and soak up game. They're invaluable tons of information and different ideas and strategies. It doesn't happen over night, stay persistent you'll find what works for you.
Best of luck!
Isaac -- congrats and welcome. I wish I had the nose for RE when I was your age. Too busy chasing tail and styling hair I no longer have. But I digress.
First thing you can do is educate yourself. Start reading books, blogs, attend webinars, meetup events, etc. -- just try and open your ears and eyes and see what's out there.
Next thing you want to do is figure out your goals and how you might get there. Some folks are great at rehab can flip their way to their goal. Some folks prefer the long game and buy rentals for appreciation. Some people are somewhere in the middle with BRRRR -- real estate wealth has a lot of investment vehicles to achieve the goal, so figure out the goal(s) and where you might want to act to achieve it. I personally want passive income at a certain level over time so I can supplement my job have more wealth. Not sure I ever want to leave my job, but goals can change over time.
I also like having my own financial house in order -- you're 18 so you probably have no debt. Keep it that way. I think education is important whether it be for knowledge, real estate, and/or trade, so invest there, but invest smartly. I've authored a few threads about college and how its a business, so choose the right business for you. Personally, I went to community college and all my credits transferred to a local state university, and I worked as a bartender all 4 years college = no student debt. Your home will eventually be your biggest cost, be it mortgage or rent, so save money to househack and learn the business (has its benefits, but also drawbacks).
Every dollar saved is an opportunity to reinvest in you or your finances. Every dollar earned is important to achieve the former. To me, its a cycle -- get as much money in, take care of what you need, and get as much money moving to things that can pay you back, e.g. investments, stocks, 401ks, etc.
TL;DR -- get your goals in order, set up your plan, and start executing. Save every dollar. Educate yourself smartly -- most knowledge these days shouldn't require you to pay 40k for a seminar or a course.