HUNGRY Newbie from Minneapolis, MN

3 Replies

Hello BP World! My name is Brett Staniforth and I currently live in the Minneapolis, MN metropolitan area. I have been a part of Bigger Pockets world for about half a year but am starting to get more involved. I am currently a Senior at Iowa State University studying Supply Chain Management & Marketing. I am a Business Development Intern in Aerospace Industry, specific to Military applications. Outside of work I take about 3 hours out of each day to study real estate/sales and aspire to become a real estate investor and realtor. I have a strong drive and am determined to learn and grow to become successful in real estate, to one day take my career to heights I can only dream of.

Currently, I am more focused on gaining knowledge and experience, so I will be better prepared to dive into real estate once I graduate from my undergraduate. I am actively developing a business plan for the future  I am trying to narrow down the route to go down within real estate, but currently am eyeing small multifamily properties such as duplexes, tris, and quads and from there, get into large complexes like apartments and condos once I am more experience and financially stable. I'm still a newbie and have quite a bit to learn, but I am targeting investment opportunities in the Minneapolis, MN and Dallas, TX areas. I look forward to connecting and contributing with you all!

-Brett

If it works for your situation I would house hack. My husband started in his first property In 1999 house hacking a duplex and making improvements. It is a great way to get started for a low entry cost and learn as you go. We would be happy to meet up with you to share our experience in this area and give some property management advice.

@Brett Staniforth I agree with @Amber Gonion .  I house hacked with a single family (before it was called that) but really wish I had purchased a multifamily instead.  

No amount of studying will beat experience.  If you've been studying real estate investing for 3 hours a day for a year you need to stop and use that time to learn what books cannot teach you.  Go get a job working at a local property manager.  Don't worry about the pay, you will be getting paid to learn so the more work you can do the better.  Even a few months will teach you a ton.  Good luck.

Originally posted by @Brett Staniforth :

Hello BP World! My name is Brett Staniforth and I currently live in the Minneapolis, MN metropolitan area. I have been a part of Bigger Pockets world for about half a year but am starting to get more involved. I am currently a Senior at Iowa State University studying Supply Chain Management & Marketing. I am a Business Development Intern in Aerospace Industry, specific to Military applications. Outside of work I take about 3 hours out of each day to study real estate/sales and aspire to become a real estate investor and realtor. I have a strong drive and am determined to learn and grow to become successful in real estate, to one day take my career to heights I can only dream of.

Currently, I am more focused on gaining knowledge and experience, so I will be better prepared to dive into real estate once I graduate from my undergraduate. I am actively developing a business plan for the future  I am trying to narrow down the route to go down within real estate, but currently am eyeing small multifamily properties such as duplexes, tris, and quads and from there, get into large complexes like apartments and condos once I am more experience and financially stable. I'm still a newbie and have quite a bit to learn, but I am targeting investment opportunities in the Minneapolis, MN and Dallas, TX areas. I look forward to connecting and contributing with you all!

-Brett

House hack.

Take your first job, find a duplex or quad and then buy it with minimal down, live in it, rent out the remaining units, and if you are really serious, rent out rooms in the unit you are living in.

That will get your foot in the door and it minimal risk to get started.  Then a year or two from now you can look at your next deal, buy the next property and rent the one behind you. 

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