Beginner investor in real estate
What are your tips for beginners looking to invest in buy and hold properties? What should I be doing right now if I’m looking to invest within the next few years?
@Dan Chevreux have a strong "why" to keep you going when things get tough (and they will) and build a strong network of experienced investors you can leverage.
Those are the two most important things in my experience.
1. Read rich dad poor dad
2. Save
3. Start talking with providers and browsing what good deals look like in their markets. That way when the time comes you've seen hundreds of deals from different markets and might feel more comfortable making your first move!
Buy in the path of progress.
Figure out what type of property makes sense to YOU and your abilities and goals.
Attend your local real estate investor meet up groups and align yourself with seasoned investors and other real estate professionals who will take the time to guide you through your 1st deal or two. Especially if rehab is involved. This is where the wheels fall off for many new investors. You need a good, fast, reliable and reasonably priced contractor(s) to work with.
