Hello BiggerPockets! Just as the title suggests, I am a recent college graduate with a degree in Pharmacology who is still on the hunt for any sort of worthwhile laboratory job. But why should I wait around to build my future when I can do it right now. After browsing some youtube investors talking about their experiences, I managed to find this lil oasis of knowledge. Immediately I jumped on and quickly got an account (hence why my profile looks barren as of now.) Currently, I have little money to start investing and little expectations in this investing business. But I am optimistic that I can grow the mightiest of oaks from the tiniest of seeds.
Other than that, I am a huge fantasy and history nerd. I love to chill with my buddies around a table for Dungeons & Dragons or discuss various historical topics, or both. I also really do not like being cooped inside my house for long, and prefer doing things outside, especially hiking. Ironic, considering what I am about to do.
@Miesrah Abdelhafez Welcome to the family .
Little money is never little if you want to invest in yourself. Read some posts, get a few good books and try to wrap your head around all this. Never be harsh on yourself for not understanding some of the aspects of this business. Always remember that knowledge works like compound interest, nothing to see in the beginning and a lot to harvest in the end.
Good fortune to you.
Thank You @Vsevolod Chilinciuc! And Good Fortune to you as well.
If it isn't too much, I am a bit confused on how people manage to make money using little of their own hard funds. They instead take out loans to buy out properties and pull money out of a property like a magician pulls a rabbit out of a hat. How does that even work without going into debt while waiting to cash in?
@Miesrah Abdelhafez i will try to respond to this ample question and be as concise as possible.
Disclosure : I am not certified to give any Real Estate advices and my response is not a Real Estate investing plan.
There are many ways to play the RE market. Here are a few that are more or less good for a no money no job situation as yours.
To understand better my ideas you should read a few books on RE investing strategies. Hint : The Bigger Pockets Books are a blessing in term of Knowledge.
1. If you have a great deal, you need 0$ to make it happen.
Let's say you found somebody who is ready to sell you his property at a deep discount. ( Personally I would consider a deep discount something that you buy at 70% or lower than the current Market value. The deep discount perception is different for each investor though. ) Armed with that opportunity you go to any RE investors club from your area, and i am pretty certain that you can find an Investor who will bring the money and will get you a share of the profit.
2. If you find an owner who is ready to carry the Note with no or little money down.
Maybe you can find a decent property in an upcoming neighborhood and the owner is ready to be your BANK. In this situation the upcoming market will increase the price of your property and you will be able to resell that property in a number of years at a profit. Maybe you could get some roommates who will pay your mortgage and you will stay there for free.
3. Go to a local RE club, show up every week for meetings, connect with older investors and offer your services in return for experience. Also ask them for help to find proprieties.
It may happen that they have a property and would be happy to sell you that property and carry the note or in other words be your Bank. Got no money to pay the monthly note? Get roommates ( tenants in a multifamily property case) and let them pay it.
The possibilities are limitless just please invest in knowledge and NEVER underestimate the power of networking.
I think this is enough to jump start your brain .
Thank you for reading and let me know if i could be of more help .
@Miesrah Abdelhafez Congrats on graduating with degree in Pharmacology! I hope you land your lab job soon!
In terms of RE investing, you have to decide for yourself first as to whether you want to be active or passive investor. If your job is going to be very demanding, will it leave you enough time to be actively engaged in RE investing?! Do you have hobbies you're actively engaged in, etc... Once you figure out how much time you have on your hands, you can shift your focus to either passive or active investing and narrow down a specific strategy by continuing to do research on BP. If you have other questions feel free to PM.
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