Financial Advisor · Newport Beach, CA · Member since 2021 · 8 posts · 14 votes
I'm a 29 year old from Orange County, CA who recently became debt free by paying off over 6 figures of debt and student loans in full!
As a newbie real estate investor, how can I seek out good partnerships with other investors involved in commercial real estate so I can take the first step and jump into the game? I've found it to be especially difficult these days due to Covid and limited networking opportunities. I'm hoping to network through this forum!
I'd love to hear some advice and ideas for the budding investor!
Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
5y
Hi @Caitlyn Richardson, welcome to the BiggerPockets forums and way to go paying off all that debt!
I'd recommend something that I'm doing right now (imagine that!?) that I heard from someone who heard from . . . well you get it. Work up a Personal Financial Statement (these are the things that banks ask for from self-employed borrowers and nearly EVERY commercial lender asks for anytime you want to do business with them). The simpler the better for this.
Once you work up your Personal Financial Statement, study it. Then start from scratch and redo it every week or month and make goals around your Net Worth. Repetition with this will increase your awareness around what actually increases net worth (a stand-in for total wealth as it is not income and not simply a sum of all investments). This has been instrumental in training my thinking around assets at a deeper level and I would recommend it to you!