New to real estate investing, any advice?

Question

I am currently wanting to get into real estate investing, and I am just wondering if anyone has any tips for me. I am only 22, but have grown up helping my dad with his rental properties, along with reading and learning as much as possible over the past 2 years. If there is ANY advice anyone could give me with getting started, I would greatly appreciate it!

Daniel Z Fang · Answer

@Trey Rittenhouse

Learn learn learn! Don’t jump to shelling out money early on no matter what folks promise you. Education is literally free and will save you thousands down the road. Be patient with others and with yourself. These concepts take time. Thankfully you’ve got time. Good for you for starting early.

Bill Goodland · Answer

@Trey Rittenhouse listen to every BP podcast episode and you’ll here more good advice from those than you can ever read on the forums or find in a book

Dan Sheeks · Answer

Hey @Trey Rittenhouse

Congrats
 to you for your ambition! I am willing to help you out with some advice
 or even chat on the phone if you wish. But I recommend you read this 
article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. It says "21" but it's got some great stuff for someone young who's looking to start investing soon. Once you've read it, let me know your thoughts and if you have any questions. Best of luck and hope to chat soon!https://www.biggerpockets.com/...

Trey Rittenhouse · Answer

Thank you @Alina Trigub and @Joshua Ferrari for the advice! I will definitely check out both of your resources. I'm excited to get started and learn as much as I can!

Alina Trigub · Answer

@Trey Rittenhouse

Congrats on deciding to start investing so early in life! You're in a great place to learn while you earn (aka save money for investing). Read up as much as possible and network with other RE investors.

Here's a guide that will help you navigate in the right direction.https://www.biggerpockets.com/member-blogs/10850/86621-six-steps-approach-to-getting-started-in-real-estate

Joshua Ferrari · Answer

@Trey Rittenhouse

Welcome to BP Trey! I started investing in real estate when I was 20. You're never too young to pursue financial freedom.

My advice is to find your niche & stick with it. Too often investors will flip-flop between niches and try to be okay at all of them. If you can focus on just one niche, for example buy & hold, then you can own that niche and be "the guy" to go to whenever someone is selling one or has any questions about them.

Read lots of books, listen to tons of podcasts, read blogs & forums, go to your local Real Estate Investor groups, network with other like-minded individuals, find a mentor, and don't over-analyze. Of course you want to make a safe, calculated decision when investing into anything, but if the numbers seems right, go after it! You can't ever hit a home run if you never step up to the plate.

You're welcome to check out all the resources we have on our website as well. You can find it on my personal page & learn everything there is to know about multifamily syndications! Get after it and never give up!