I'm 23. I'm from Columbus, OH. I've finally decided to pursue real estate. This is something that I've held off on because I thought it was too far fetched. Now that I'm educating myself on becoming a real estate investor, my husband is telling me that it's not a bad idea BUT... not right now and that I should focus on saving. Maybe find something else to invest in for the time being because he doesn't believe in our market. He believes that my success would come from luck. I tell him that educating myself on the matter is the best thing for me right now so that I can come to that conclusion if he's right.
He insists on continuing with his rant.
Any advice? Should I wait on this pursuit or should I continue to push forward?
Continue to educate yourself and try to bring him along. Maybe get a book on investing and have him read it.
I would strongly recommend avoiding you moving forward on something he's not comfortable with. This needs to be done as a team.
Continue to educate yourself and continue to save. And try to educate him too, maybe watch a podcast every week together. Hopefully by the time you have the $ saved to invest he will have come along.
@Cara Oden I would recommend looking at your whole financial picture and personal goals. If your goal is to generate wealth over a long term horizon then I would get into real estate. Investing in real estate takes two of the following: time, money, education. It sounds like you have an education but do you have time or money?
I would focus on one aspect of Real Estate. It's a very diverse industry and you'll see that as you continue to learn. I focus on value add multifamily here in Columbus. If someone asks me to help them lease an office building I refer them out, it's just not what I do! So I think finding a nitch to start with could be good. When I bought my first property I had the goal of living for free. Might be a good starting place for you too. And the goal of a free place to live is a pretty easy thing to get anyone behind.
@Cara Oden the longer you hold off, the harder it gets to jump. Could even be worth considering a lower risk option to jump into like a short-term rental to get your feet wet.
@Cara Oden Continue to learn and educate yourself. Learning and reading Is free!
Become an expert at numbers and/or a neighborhood. If you can convince your spouse to listen to a podcast with you, or strategically turn it on when you are in the car or living room together, try it! That’s what I did.
I searched and analyzed a lot of deals and one day, found one that made a lot of sense. Shared with my wife and she had seen all the work and time I had put it (BP calculator would have saved me a lot of time then!). Numbers don’t lie - which made the “sell” a lot easier.
Keep on down the path and you’ll get there! Best of luck.