I wanna learn and start young but I work at restaurant and barely have enough money to pay my bills. I wanna work hard and get lead into the right direction and multiply my year to date income.
Rental Property Investor · Kalamazoo, MI · Member since 2018 · 12 posts · 28 votes
7y
Everyone has different learning preferences, but use the time while you currently have while you are saving to educate yourself like crazy. Listen to as many podcasts as you can, read every book you can find, start going to REI meetups, ask another investor if you can work for him for free, etc. I spent a solid 9 months reading 10+ books, and listening to over 100 podcasts, and built some good relationships before I started.
The best thing you can do right now outside of education is to get creative and disciplined enough to live off of 80% of your income. If you can save 20 percent per month, you'll find you'll have enough captial to land a deal, even if it's not the most amazing purchase, within a year of saving.
Multi-Family Syndicator · Abington, MA · Member since 2017 · 603 posts · 347 votes
7y
You're doing the first step by being a part of a great platform here at BP.
1. Educate yourself! This is going to be what you do for the rest of your life as you constantly tweak and insert what you learned into action.
2. Analyze as many deals as possible. Keep reviewing and learning how to spot a good deal from a bad deal.
3. Connect with like minded people.
4. Talk about real estate! Be vocal and intentional with your conversations. You never know who is interested and needs help. Since you have educated yourself and analyzed deals, great chance to partner with a money partner on that front.
5. Raise money for your own deals.
6. Find deals for others. Also known as bird dogging.
7. Invest in someone else's deal or syndication. Learn from the process and get involved someway, somehow.
8. Find a mentor and volunteer to help them for free. Add value to someone else for free education and building a friendship/relationship.
9. Write a blog, start a podcast, start a YouTube channel, or do all 3.
10. Be active on your social media platforms and create your own brand.
These are not step by step processes. Just guidelines to help you get to your end goal. 1, 2, and 3 are crucial but everything else tackle it in your own way and process. Just do it. Hope this helps, good luck, and God bless!
Coppell, TX · Member since 2015 · 485 posts · 310 votes
7y
Make more money, two jobs if you need to (for a short time). save up so you can put 3% down on a small duplex in a C+ area of town, and rent the other side. you live for free (almost), and save for the next one.
@Lateeka Mosley I applied for wholesaling I feel like my skill sets aren’t up to par and haven’t got a call back. HoW can improve my resume that have the needs employers In sales are looking for?
Joshua, Wholesaling is not a job you apply for. It's a method of real estate investing. If you watch some wholesaling videos on youtube. You can learn how to apply the methods to get started. I will message you a few of the youtubers I watch along with some of the podcasts I listen to learn how to wholesale real estate.
wholesaler rehabber . Bristol, Plymouth counties in MA · Member since 2017 · 1 post · 0 votes
7y
I would suggest starting out wholesaling. Cold call foreclosure, probate and abandoned houses. Get the property under contract for 60-70% of after repair value minus rehab cost and a $5000 wholesale fee. Then assign contract to a contractor or cash buyer. There are lots of tradesmen out there looking for their next rehab. You can do this!