First Time Investment in Multi-Family Real Estate

[Walter Edington]

Hi all, 

I'm new to this website/forum. I recently(2weeks) began learning about real estate investing, I've been listening to the Biggerpockets podcasts and reading their posts. Anyways, I'm posting this to ask for guidance/opinions. I am currently a business student and I have always been kind of interested in real estate investing, but have always been told that it's to risky and therefore just began to realize that the people that think it's to risky are also people that don't own ANY real estate(with the exception of their own home) so.... I want to post this to hopefully learn more about this topic, that maybe the podcasts and pages don't cover entirely. My background is, I'm 20 I live in Ontario Canada, and I have the ability to save roughly $10,000/year as a student. My main question is should I begin investing as soon as possible, or wait and purchase more than one rental property to begin. I would like to make this my full-time job eventually, from what I've read that's a very attainable goal as many have already done.

Sorry if this post is a little unclear I'm new to this,

Thanks

[Andrew Kerr]

@Walter Edington - the advice you will get will vary based on goals and preference. If I was back in your place, I would save like crazy till you have an income, then buy a small multi-family property. Live in one unit (and get roomates), then rent the other units. This will let you get experience with owning property, managing tenants, along with keeping your living costs dirt cheap. Then save like crazy till you can buy another deal.