Complete Beginner! Where to begin!

6 Replies

Hi guys! As I said, I am a complete beginner to real estate investing but I’m so ready to dive in! I am currently 20 years old and work full time in construction but know for a fact that I definitely don’t want to do that for the rest of my life. I want to invest in real estate Asap. The problem? With all the different information pooling around inside my head from the hours of YouTube, blog posts, and podcasts, I have no idea where to actually begin. Im unsure of what my first step should actually be. Any advice or suggestions would be greatly appreciated. If anyone who had invested in real estate and has reached financial freedom from it has any time to chat, I’d love an hour talk on zoom whenever it’s available! Thank you all and to all the best on your endeavors!

Good for you for having the initiative to do something at such a young age! I worked construction my entire life my body is a wreck now....but it was a blast, not sure I wouldn't do it again anyway....

So you need to get a property.....any property, anywhere. Beg, borrow or get creative to get a down payment...or get a property as a lease option....or whatever - just get 1 house! The you're in the game... use your skills to increase the value, then refi or sell. Get another and another. The new STR game is taking off and is a real deal.

I would start in your area so you can do the work and keep an eye on things, but eventually spread out and go for other hot areas you may hear about...

Remember the ultimate deal in RE (IMO) is to find a distressed SFR in the next up-and-coming area. Fix it up, rent it out and wait. Keep doing this.

Promotion
Marko Rubel
ATTENTION INVESTORS
Get Deals 100% Funded – No Credit, No Banks, No Job Verification
New Unlimited Funding® program for investors: low-interest, without banks or shark lenders.
Check availability

Hey, Brandon! One of the best strategies to get started in real estate investing is house hacking, which is essentially renting out part of the property you live in. It's a great way to get in the game while you are still building your liquid assets. I currently house hack in Denver, renting out the basement of my house as an Airbnb, and typically cashflow between $500 and $1,000 per month after expenses. Airbnb is one great option, but you can also rent by the room long term if that would work better for you. A great place to start is to pick up "The House Hacking Strategy" by Craig Curelop to learn more about the process. Happy to connect or answer any questions!

You have what many people don't have when they decide to invest - a verifiable skill used in the trade of real estate investing. So use that to make contacts on and off jobs and learn about it. If you do construction on flips, you have an entire live webinar available every day. Does your GC flip homes for themselves or for others? Have you gone to local REI meetups to meet people? Learn all you can on the job and it will benefit you greatly as you see which parts you like the most.

@Brandon Bucher  Wholesaling could be a great gateway for you to break into the industry. It's important for you to sit down and determine what your goals are. Do you want passive income? Quick cash? How much money do you have to invest? Where do you want to be in 1 year? 5? 10? how much income do you want by these dates? Passive cash flow? Doors? What kind of lifestyle do you want (working everyday or retire early)? These questions will guide you to the right sector of real estate. PM me if you have any questions about goal setting or finding the right real estate path.

Hey Brandon, as your name buddy Brandon Turner says often 'it's more important that you decide than what you decide'. I think house hacking is the best way to get started. I'm not FI yet but I'm on my second house hack and would be more than happy to chat.