Updated over 6 years ago on . Most recent reply
Multifamily Learning Advice (newbie)
I'm starting law school in the fall after working for a real estate lead gen company for two years. I've read the typical starter books on REI in general, as well as some ones on multifamily and am most excited by multifamily/commercial. I don't have any experience in this arena besides a short community outreach internship for a commercial investment company and am eager to learn more and get more involved. I have the strong urge to jump into investing after listening to all the stories on BPP and reading these books, but currently would only have about $20K savings to spend.
I am in Southern California, so I think I would have to look at an out of state market to get my feet wet. Instead of putting it into an out of state smaller property, I was thinking about attending some REI meetups around LA and starting a mass mailing campaign.
My short term goals: Develop skills in this specific type of lead development/management and find at least one good deal before graduation (law school is 3 years). My thinking would be to either assign the contract or take it to someone with experience and basically gift it to them in exchange for just allowing me to see under the hood of the deal and follow the process up close.
Longer goal: Use the system already in place to take advantage of deals with my own money after a few years of working and saving.
Even longer term goal: Syndication
Issues: Time dedication during 1st year-- career path and long term earnings are largely based on first year performance. I am told it's ill advised to do anything outside of school during this year.
Is this the best way to work towards my goals? Am I missing anything crucial or am I misguided? Any insight is appreciated-- thank you for your time in advance.