Where should I start?

2 Replies

I’m a recent BP Pro member. I’ve been educating myself intensely for the past 2 weeks. Reading, watching videos, podcasts, and webinars. I want to have my first multi-family property by February. Is it possible? How can I make the connections that will teach me legality, accounting, etc. I’m an 18 year old college student. I’m broke but extremely determined. All the money I have saved is either invested in small-cap stock or has been set aside for this. Where do I go next? Start running deals through the calculator and fix the bugs as I go? I just need a slight bit of guidance. Anyone that can help please do.

@Alex Dalton , welcome!  It sounds like you have the energy to try out real estate investing- I love it when people are so fired up and passionate about something.  It is absolutely possible- but does it makes sense at your stage?  You have to be the one to figure that out.  Taking action is incredibly important, but it's pretty important to know clearly what direction you're going to optimize your chances of success.

I'm in the learning stage myself and my advice is to keep listening to podcasts, keep reading, keep connecting.  Start with your WHY- why do you want to pursue real estate?  If you can answer the WHY, it'll help keep your fire alive when it falters and life happens.  It will help you to keep pushing. 

Secondly, I would highly recommend stepping through the steps and creating a business plan using the Ultimate Beginner's Guide.  I used it and it has done wonders for keeping myself focused on my mission, my why, and my beginning investing strategy (house hacking a multifamily).  

Additionally, consider finding a local real estate meetup to start making connections with experienced real estate investors who can help answer your questions and give you additional perspectives.  BP has a meetup finder you can utilize here.

Lastly, this website has SO MANY RESOURCES IT'S CRAZY.  Use that search function for questions you have- it can answer just about everything.  Start using the calculators to get comfortable with the different aspects of calculating real estate deals. Start building systems to get the information to populate the calculators accurately.  You can also listen to past webinars as a Pro member- so you search for ones on topics you are interested in.  

If you have any questions, feel free to ask and connect!  Good luck!

Cody I cannot thank you enough. Those links are so useful and I can't wait to utilize them ASAP. A very good friend of mine (20 years old, full time REI) inspired me, along with a life-long entrepreneurial mindset to join the path of REI. I want to live my life on my own terms. I'm in school studying Economics with a minor in Finance. I'd love to use this information and all that I gain here to provide a life of freedom for me and my family in the future. I'm not saying I want private jets and a butler, but coming from my background I am willingly to work extremely hard for a comfortable life on my own terms. That is my why. Thank you again so much!