How to start investing in real estate?

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How to start investing in real estate?

Isaiah Tucker
Rental Property Investor · Dallas, TX · Member since 2020 · 5 posts · 2 votes

Hello!

I’m a 21 year old who has always been interested in real estate investing. I decided to start my real estate portfolio even though I’ve been watching videos on it for months now. I literally only watch videos and listening to podcasts on investing for as long as I can remember. I feel like I know a decent amount on it but I’m no where near comfortable with starting investing on myself.

My goal is to have a few rentals by the time I graduate college. I plan on investing in the Dallas area by the end of 2021 or beginning of 2022, but if I’m being honest I’m quite scared. I asked my friends to go half with me but was turned down because it’s a risk.

I decided to start on my own so I’ve been looking at Zillow trying to learn what neighborhoods are good and also driving in them but I have no idea what to look for. I truly wish I had a mentor/guide that could help calm my nerves. If you have any advice for me I’d love to hear it because I’m very interested in learning more!

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  • Blaine Alger
    Investor · Waco TX / Conroe, TX · Member since 2017 · 376 posts · 228 votes
    5y

     Being uncomfortable and anxious about making the jump is part of the process. Real growth occurs when you step outside of your comfort zone and do things that most would not. 

    Sounds like you have a plan together but I would begin to focus more on the financing side. That is the biggest struggle for people your age. When you are young and have insufficient w-2 work history, banks don't like you that much. So you either need to seek out relationships with people who have access to capital, start working on maintaining a consistent income or look into owner financing opportunities that will allow you to by pass the banks (this will still require some cash, so continue to save). I don't know anything about your financial situation, so i would go talk to a lender and just see what you have to do in order for them to approve you for a loan. 

    If you have any questions, feel free to send me a message. I would love to help anyway I can and I am just down I-35 from Dallas in Wacko.

    -BA

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  • Isaiah Tucker
    OP
    Rental Property Investor · Dallas, TX · Member since 2020 · 5 posts · 2 votes
    5y
    Originally posted by @Blaine Alger:

     Being uncomfortable and anxious about making the jump is part of the process. Real growth occurs when you step outside of your comfort zone and do things that most would not. 

    Sounds like you have a plan together but I would begin to focus more on the financing side. That is the biggest struggle for people your age. When you are young and have insufficient w-2 work history, banks don't like you that much. So you either need to seek out relationships with people who have access to capital, start working on maintaining a consistent income or look into owner financing opportunities that will allow you to by pass the banks (this will still require some cash, so continue to save). I don't know anything about your financial situation, so i would go talk to a lender and just see what you have to do in order for them to approve you for a loan. 

    If you have any questions, feel free to send me a message. I would love to help anyway I can and I am just down I-35 from Dallas in Wacko.

    -BA

    I have a plan set in place to purchase a house by the end of next year. I took a break from college for the last 2 years to build my resume so my W2 history is really good. Ive also been focusing on credit for the last few years and my credit history is really good. If you're down to, I'd love to meet up and talk about real estate? 

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