How long should I prepare before investing?

Question

I've only been learning about REI for 3 or 4 days now and I know I haven't even scratched the surface yet. How long should I learn about REI before I start getting my feet wet?

Or since I'm sure the length of time varies between people, how will I know when I'm ready to try out buying my first property?

So far I've been thinking of spending 6 months or so learning everything I can before trying out my first purchase, but I don't know how realistic this goal would be.

Ned Carey · Answer

I think it is typical to take 6 months to do a first deal. But that varies tremendously.

To answer the question in your subject line: As long as it takes to be ready.

True investing is not about guessing what a property is worth or hoping it will go up in value.  It is about knowing you have a good deal.  Keep learning until you are confident that you "know"you have a good deal.

Good luck - Ned

Karen M. · Answer

Justin, I am in the same boat, I'm reading and loving it and this is all so interesting and fun.  I have hundreds of questions, it is clear that there is a lot more to learn.   The learning is going to be an amazing experience.  I hope to be ready to acquire a first property in six months to a year or..... whenever it seems like we're adequately prepared to do it and be successful.

Have fun on the journey!  --Karen