I just turned 20 years old and my goal is to become financially independent by the age of 30 or so. I’m currently in college but it’s all paid for. What is the best way for me to get started in real estate investing and reach my goal?
I am assuming, based on this post, that you are plugged into the FIRE community. As such, the shortest way to financial freedom the way that I see it is to slim down absolutely all unnecessary expenses while also acquiring enough rental RE that cashflows in three steps;
1. Cash flow to cover all RE expenses as well as your own living expense. At this point, you are basically cheating FIRE, but if something catastrophic happens you start over, so we move on to;
2. Cash flow to fully fund (currently $25k) your annual retirement contributions as if you were working a normal job as well as 30-40% of step one cashflow towards VTSAX, and then;
3. Cash flow to acquire more property at a 10% increase, year over year, so that the business continues to grow and expand.
That's what I'm focusing on, any way.
What's your degree in? If it's anything liberal arts, change it to business, finance, or marketing.
The fastest way in is to consume everything you can about real estate, finance, business development, personal development, market strategy, marketing, etc while saving up as much capital as you can and networking with local investors/agents/contractors/lenders/etc with the hopes of making connections and finding a deal.
Are you working? If not, consider a PT job in a real estate office, or as a bird-dog, or as an assistant project manager. It's not a quick process, but develop a strategy and a plan. This is a BUSINESS. Develop and treat it as such.
Be sure to check up top under "Networking" for the "Event " page to see what's happening in your local market.
Go kill it. You're going to do great.