New to Real Estate
I Just finished the Biggerpockets book and I am looking for advice on starting in real estate investing. I am 25 with two children and a third on the way. I have a good job but a lot of bad debt. I am going to pay most of it off using the Dave Ramsey method and then I will start building my assets. My interest is in acquiring rental properties and hiring a management company to run them. I know i will likely have to build my credit to do this, as hard money lender seem to only be for flipping houses. Any advice from people around Connecticut is greatly appreciated. Thanks!
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Hey @Matthew Corrigan. Welcome to BiggerPockets. The best real estate investors are patient but pounce when the opportunity presents. You need to be ready, which it sounds like you are preparing to be, and the preparation should be for years not weeks or months.
I currently own a PM company, over 25 properties, a big office building, etc. I started preparing for my real estate journey in 2004 with learning and researching, moved back to CT in 2008 and didn't buy my first property until 2012. I got a great W2 job, read a bunch of books on landlording, educated myself on the market in CT, and only when the perfect opportunity of property price, interest rate, and my knowledge did I start buying. After that I was aggressively buying multiple properties a year and even bought 3 properties in a day.
At this point, I have 6 kids, a multi million dollar real estate portfolio, a business that serves me. I have traveled the country with my six kids and am going on a life changing adventure with my wife in June. Today is my 21st wedding anniversary!
I'd be happy to tell you or anyone else reading this more about my real estate journey. If interested, DM me.