How to start out in real estate

Question

As a young man (20 years old), what would be the best option to begin investing. I would like to start out either wholesaling or flipping. I have located several flips but not sure if I would be able to sell after flipping. Do you first find a buyer and then flip the property or play it safe and wholesale the deal. Need help and open to all advice. Thanks.

Derek Harris · Answer

Chance, I recommend learning as much as you can about REI first. This includes listening to BP's podcasts and reading some of their books. I also suggest joining your local REIA group and trying to surround yourself with like-minded individuals. What is our financial situation like? Do you have capital? As far as flipping is concerned, there is a lot that needs to be taken into account and this is completely dependent on your local market. I recommend finding a flipper in your area and providing value to them... for free. This could include giving them leads or helping them with their marketing campaign. The worst thing you could do is jump right in, purchase a property and attempt to flip it all by yourself. A mentor will help you avoid potential problems and guide you through the process.