For the past year or so I've been really enjoying learning about real estate. I've been reading real estate books and even have gotten my license. I am wondering if you guys have any recommendations of what I can do to get further into real estate. For context, I'm a college student studying finance -- on a college student's budget. Understanding the limits on my time and budget, is there anything I can do to pursue my passion for real estate investing right now besides continue reading and learning? I've thought about flipping contracts, is that worth pursuing?
@Dylan Gates In my opinion, the first step would be to try to narrow your focus on what it is you want to do (doesn't need to be perfect, but a sense of direction helps).
For example, you mentioned you got your license. So if the goal is to be a a full time agent and a part time investor, then I would recommend to go shadow a top producing agent in your area. But if your goal is to be a flipper and to just have your license to use as leverage, then I would recommend finding a flipper in your area and finding a way to work on their job sites (even if it's for free).
Once you have a better idea of what you want to do, it makes the next steps a little easier to determine.
Hope this helps and best of luck!
Hi Dylan - I agree with Joe. You need to figure out what you enjoy and then focus on it. Since your time and cash are limited right now, wholesaling might be an option. I read and listened to podcasts for a year before I jumped in. But I fortunately had cash to buy a rehab that I did the BRRR method on. Creating passive income from Buy and Holds is my focus - not the quick money. But you are at a different stage in your life. I would focus on where you want to eventually end up and then plot your course there. Wishing you success!
@Dylan Gates are you actively using your RE license? If not, you could join a team and start transacting...Make $$$ and save all of it for your first investment. If your market isn't terribly pricey, you could use the money you've earned as a down payment on a house hack; should the market you're in be expensive, find something out of state.
@Grace Wang I'm actually not actively using my license right now. I initially thought the only way to use my license was by being a solo agent, but thank you for reminding me that many agents have teams. I will for sure start networking in my area!