I am newly interested in starting a career in real estate and it seems like real estate investing would be the way to go as far as how much money you could possibly make and the time/effort put into it. I don’t have any prior experience with real estate would would be the best way to get started that wouldn’t be too much of a financial risk here in the Las Vegas area
The best way to get started is to educate yourself, in-depth. Start with the BP Beginner's Guide, and then read everything else you can get your hands on (books, the forums, BP blogs, podcasts, etc). Do that for a few months, and you'll have a more defined opinion on what your next step will be - house hacking, getting a real estate license, trying to wholesale, partnering up with someone, etc.
Read some books that will give you a foundational understanding of investing:
- What constitutes a good investment?
- Where do I find good investments?
- How do I fund an investment?
- What's it like to be a Landlord?
- What are the common mistakes I can educate myself to avoid?
Those are just a few questions you should have answered before stepping in. Once you have a foundational understanding, you can refine your knowledge through blogs or forums that address specific topics.
You should also find a real estate investors group where you can network and learn from seasoned pros as well as newer investors. Learn from their mistakes. Find a mentor that will let you follow them through a couple deals so you can see how they analyze the deal, finance it, etc. Hands-on training is far more beneficial than a book.
There's a slow way to start and a fast way.
The slow way is to read books, attend events, listen to podcasts.
The fast way is to hire a coach who specializes in the strategy you are interested in pursuing.
I was doing everything myself for about 10 years and I acquired 5 properties. I hired a coach and did another 30 deals the next year.
If you want, direct message me and I can give you a free pdf version of my books.
Thanks everyone,very helpful! I will definitely do some research
Hi Asia....Welcome to BP and the investing game. There are a few books you SHOULD read for some base knowledge and you would also want to connect with some local investors so you can get context of whats going on in the Vegas market. I'm a Vegas native and I know this town like the back of my hand. If you like, feel free to reach out and I would be happy to sit down with you to help point you in the right direction. Just text me at my number below and we can schedule time. I look forward to meeting you soon!
@Asia Cyprien - If you find that you are very interested go work with a firm that has a lot of deal volume. It helps bring you up to speed quicker.
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