First time investing

2 Replies

Hello, my name is Raul and i am 20 years old with no idea what i want to do with my life, i contemplate everyday about it. I just found out about real estate investing and am very interested and motivated to try out but don’t know where or how to start. I recently purchased the book How To Invest In Real Estate and so far i have gotten to chapter 2 but just from what i have read, it’s full of really good information and stresses so hard to be consistent which I already am because of my own personal hobbies like weight lifting and skateboarding. So if someone could please reach out to me and give me advice or any type of guidance i would appreciate it

Raul - Congratulations on want to become an investor! Whether you realize it or not you have taken the first and second steps: 1 - Have a desire and 2 - Education. I would recommend continuing with your education (read books, listen to podcasts, participate in BP forums, attend meet-ups, etc.). As you learn more it will help you establish a detailed goal to work towards as there are many facets of real estate investing and you can't do it all at once.

@Raul Sanchez Keep educating yourself. Read books and listen to the podcasts. I’ve started listening on YouTube to the BiggerPockets Podcasts in order. There have been a few that didn’t interest me like the one on wholesaling because I’m already investing and not interested in that. But I bought a kindle on sale on Black Friday last year and I mostly download business, real estate, and self help books onto that at half the price of hard copy books.

If you're interested in investing start saving in a bank account you don't use, not your debit card account, money towards a down payment for a mortgage. I put away at least 10% of each paycheck. Personally I'd also recommend you start a Roth IRA and contribute to that every year so your investments will be diversified. There's some great books about that. Dave Ramseys Total Money Makeover is also a good place to start if you have any debt or to start building up a budget and savings.

Best of luck and welcome to BiggerPockets!!