Snowflake, AZ · Member since 2019 · 16 posts · 4 votes
Recently I’ve been turned on to the idea of real estate investing, i am looking for sound advice on getting started. This is all new and exciting to me so anything is helpful.
@Eli Jackson REI can be quite exciting! if you are just getting started education is paramount. Research the topic on the forums, scoured the podcasts for stories, and look into Brandon Turner's book Investing in Real Estate with No (and Low) Money Down. Link below
There are many strategies to enter the game with less money, but I would also add preparing your finances. Cut expenses and maximize savings as much as you can to gear up to take action.
@Eli Jackson REI can be quite exciting! if you are just getting started education is paramount. Research the topic on the forums, scoured the podcasts for stories, and look into Brandon Turner's book Investing in Real Estate with No (and Low) Money Down. Link below
There are many strategies to enter the game with less money, but I would also add preparing your finances. Cut expenses and maximize savings as much as you can to gear up to take action.
@Eli Jackson REI can be quite exciting! if you are just getting started education is paramount. Research the topic on the forums, scoured the podcasts for stories, and look into Brandon Turner's book Investing in Real Estate with No (and Low) Money Down. Link below
There are many strategies to enter the game with less money, but I would also add preparing your finances. Cut expenses and maximize savings as much as you can to gear up to take action.
Awesome book indeed. I just got done reading it. You'll learn a lot of good stuff, Bryan.
You really need 20 or 30k to get started. Cut expenses for a year or two until you have cash saved up. Real estate will give you a lot of random expenses that come out. Have a lot of $ in cash reserves. I’ve been crushed by expenses and didn’t have a big enough reserve to handle everything. Not smart. Good luck!
The best sound advice I can give you on getting started is to cool your jets a bit and get $25K on the side that you could put in a little pile on the sidewalk, douse it in gasoline, light it up, and still be all right with your finances and your family.
While you're busy getting your money straight you can learn more about real estate investing, make contacts, and refine your business plan.
If saving $25K in 2-3 years is an insurmountable target for you and your family, real estate investing might not be the best of ideas for you.