Where Do I Start? - 22 | Recent Grad | Want To Be A Full-Time REI

Where Do I Start? - 22 | Recent Grad | Want To Be A Full-Time REI

Rental Property Investor · Irvine · Member since 2017 · 1 post · 1 vote

Hello Bigger Pockets Community,

My name is Kyle Sheng and with my subject line I'm sure you can already understand a little about me. I joined BP less than a week ago, from listening to just a few of the BP podcasts. I have no prior experience in Real Estate Investing, however, I am very interested.  My objective with this post is to:

A. Be an catalyst for the younger BP members to gain knowledge and experience from more experience BP members.

B. Introduce myself and connect with BP members

C. Gain insight knowledge as to the first action steps one can take towards REI.

My questions are:

1. What are some key points to keep in mind as a REI in your early twenties?

2. What action steps would you have told yourself when you first started? 

3. What tools or steps can you take to accelerate your growth?

4. What action steps can be taken today to start the journey to Real Estate Investing?

A little bit about myself, I graduated from UC Riverside in 2016 with a Marketing degree. I have lived in Southern California my whole life. I goal is to become an aggressive real estate investor to create financial stability and passive income . I would love to stay connected with anyone in or out of California. Hope to speak to many of you soon

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Real Estate Agent · Naperville, IL · Member since 2013 · 402 posts · 177 votes
9y

@Kyle Sheng Welcome to BP! First and foremost, get a W2 job and hold it for 2 years. This will make life 100x easier starting out. Once you have done this, I would recommend house hacking with a 3-4 unit. Good luck!

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  • Real Estate Agent · Naperville, IL · Member since 2013 · 402 posts · 177 votes
    9y

    @Kyle Sheng Welcome to BP! First and foremost, get a W2 job and hold it for 2 years. This will make life 100x easier starting out. Once you have done this, I would recommend house hacking with a 3-4 unit. Good luck!

  • Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
    9y

    Eesh. I'd do the exact opposite of that advice! That is 100% committing yourself to working for "the man" (government regulated conventional banks) to fund your real estate investing. A process which will slow you down and burn you out. Go ahead and do a search on BP. More than one person reached their loan limit and then asked, "What do I do now?..." 

    Work on building your private money pool. Private money is the key to taking great strides in this business. Then, when you have a portfolio of rentals you can walk into a bank and do a blanket loan. 

    Fixing and flipping is a great way to get started. Lots of opportunity all along the San Bernardino corridor in which you live - (Follow the 10 and 215 freeways.) 

    Sourcing deals is a great way to get started as well.

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Kyle Sheng

    You have come to the right place to connect with the wide array of real estate professionals and investors. Make sure to view the Bigger Pockets book store: https://www.biggerpockets.com/store

  • Rental Property Investor · Carlisle, PA · Member since 2013 · 1k+ posts · 543 votes
    9y

    @Kyle Sheng, welcome to BP.  Just find a way to get started.  House hack maybe, but get into a property and keep investing.  I think if you asked every investor on this site 75% of them would say they wish they found a way to start sooner.  Good luck!

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