Advice for first-time investor with big dreams in RE

Advice for first-time investor with big dreams in RE

Rental Property Investor · Atlanta, GA · Member since 2020 · 3 posts · 1 vote

Hi BiggerPockets Community,

I am so excited to write my first post in the forums and to start my career in real estate! Financial freedom, here I come!

A little backstory, I recently graduated from UGA (go dawgs!). During my senior year, I read Rich Dad Poor Dad and it completely changed my outlook on business, corporate life, and just life in general. Right after I finished the book, I immediately read The Book on Rental Property Investing by Brandon Turner and many other books on real estate and business.

I've been reading reading and reading and I feel like I am at a point where I need to take action! I am hoping to move back to the Atlanta market soon to buy my first home (hopefully multi family home) with my FHA loan and house hack it as my first investment. I dream goal is to start a real estate company that will dominate the ATL/GA market and have more than 100 units by the time I'm 30. Then I dream on having units all around the country and expanding everywhere! Dream big or go home!

This is my dream goal in life and I am so excited to get started! I am so thankful for BiggerPockets for the abundance of information and education and the BiggerPockets community for being so giving and open!

If anyone who is in the ATL market, or just a RE investor in general, that has any advice for a kid who has big dreams in real estate then please send them my way! Thanks for reading this and look out for my next post cause it’ll be when I buy my first investment! :)

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Realtor · PInellas County Largo, FL · Member since 2016 · 902 posts · 810 votes
5y

Congratulations!  If you don't want Real Estate to be your 1st career, then make sure you start out on a path to being a high earner.  Then live way below your means and save the excess!

A house hack / duplex / small multi-family is an amazing way to start out in your planned path.  It will not only eliminate / drastically reduce the average American's biggest expense (housing), but position you to save exponentially faster.  The first and second purchases are the hardest and slowest.  After that you will start to speed up if you choose to keep going!

Congratulations, and remember it feels slow as you are in it, but looking back it seems very fast!

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  • Rental Property Investor · Atlanta, GA · Member since 2020 · 3 posts · 1 vote
    5y

    @Brandon Kim

    Also if anyone has any connections or recommendations for agents, lawyers, CPAs, etc. in ATL then that would be greatly appreciated!!

  • Real Estate Agent · Atlanta, GA · Member since 2017 · 86 posts · 71 votes
    5y

    @Brandon Kim this is awesome that you have big goals for the next 5 - 10 years, it sounds like you're well on your way to accomplishing them. My advice to all new investors is to build a team ASAP (an agent, lender, contractors and a network of other investors) while simultaneously pursuing your first deal. It's not about timing the market, it's about time IN the market... so do what you can to get the first investment under your belt ASAP. If you align yourself with an investor friendly agent (who also invests) and a support system of a few other investors to bounce ideas off of, you should definitely be able to secure a "base hit" first deal.

    Let me know if you have any specific questions!

  • Rental Property Investor · Atlanta, GA · Member since 2020 · 3 posts · 1 vote
    5y

    @Anthony Fontana thanks for the advice Anthony! That’s definitely a top priority of mine right now as I read that a great team is what can make or break your career in RE. I see that you’re a real estate agent for investors in Atlanta. Would it be possible to connect and chat about your experience with the ATL market?

    Also, you talked about other investor friendly agents where you can bounce deals back and forth with. Do you know of any real estate investor groups or networks specifically in ATL that I can join to find people like this?

  • Realtor · PInellas County Largo, FL · Member since 2016 · 902 posts · 810 votes
    5y

    Congratulations!  If you don't want Real Estate to be your 1st career, then make sure you start out on a path to being a high earner.  Then live way below your means and save the excess!

    A house hack / duplex / small multi-family is an amazing way to start out in your planned path.  It will not only eliminate / drastically reduce the average American's biggest expense (housing), but position you to save exponentially faster.  The first and second purchases are the hardest and slowest.  After that you will start to speed up if you choose to keep going!

    Congratulations, and remember it feels slow as you are in it, but looking back it seems very fast!

  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    Welcome @Brandon Kim! Your enthusiasm is contagious. You're starting out on the right path with an eye on house hacking. The more creative you can get with your living situation while you're young and have tremendous flexibility, the better. Every single investor you talk to wishes they would have started sooner so you're on the right track. Best of luck to you!

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