Looking for community advice for all of us youngsters who have a desire to get into real estate investing. I'm sure my position is similar to a few out there so hopefully someone else can find this and get some help too.
Im 20 years old and have been reading and learning a lot about real estate investing. I get a lot of the late term end game strategies. The end goal would be value add apartment investing and long term cash flow apartments .
The big issue with all of us starting out is how to start. There are a million ways to start but almost anything requires at least a little bit of investing capital. For those of us that dont have any money right now, what job would you suggest that would allow us to get experience while being paid? Or find the best paying job in the short term to get into investing asap?
Would becoming a realtor be a viable income strategy to dump into properties? Or does property management give you a better picture of the back end tasks and more of the everyday operations of how a property makes you money? Or would it be home inspection and being able to identify investing potential when you search out deals?
Once we get the ball moving more things will open up and we will quickly make more and more investments, but whats a great step from nothing to investor?
Thanks a ton!
Bradley Griffin, UT
I think househacking and becoming a realtor are the best ways to get started. Hopefully others will chime in.
House hacking is an easy way to dip your toe in and subsidize your living expenses. Not house hacking is my personal biggest financial regret. You can get a low money down loan for a house pretty easily and rent out the other units.
Outside of that, just start finding deals. Drive for dollars, hunt down a deal, then assign it (wholesale) or keep it and get funding for it. Be your own boss, get educated, learn by doing, take action.
Local networking groups will have investors that might be hiring. Agent, bird dog, wholesaler, property management company are a few I can think of off the top of my head.
Becoming an agent only helps if your broker, or other office mentor, is involved in real estate investing. Otherwise, you just learn how to list & sell houses with owner-occupants.
Working at a PMC will show you more of the ropes of landlording and whatever else they do.
Hi @Bradley Griffin ,
I think the answer to your question depends on what goals you set for yourself and what area of RE you want to be in. Yes being a realtor is great and you get to help people get into homes, but it takes a lot of work and dedication to the craft. You have to be really committed to RE sales to make a dent in the market. The good thing is, like you said, there are many routes to start when it comes to Real Estate it just depends on what your goals are.
Personally, if I didn't go the Realtor route I would have probably got my Appraiser license/certification. Being an appraiser helps you determine the value of a home and you will get a ton of practice doing it. In addition to that you will be able to network with different people in the industry from agents, lenders, etc. The skills you will learn from being an appraiser translates very well to your investing career.
Keep educating yourself in Real Estate and in due time you'll find the path/route you will want to go in this industry. Also set your goals so that could help determine where you want to be in life. Good luck Bradley! Feel free to send reach out if you have any questions or want to connect.