Eager Nineteen Year Old Investor Seeking Knowledge!

1 Reply

Hello! I am a 19 year old aspiring investor and I have to say I have never felt so eager to hop into something as much as I have real estate investing. I know that with that strong of a desire needs just as strong of a preparation if not more before I can truly say I'm making a smart investment. One of my biggest questions I've had while learning through real estate through various books and podcasts is what is the best way to get a clear understanding of market values of a certain area and how to really pick up on the outliers which become good deals. Also, as part my journey I've made the decision to pursue real estate investing "full-time" I guess you could say, with the future goal of having my investments lead to financial freedom. What are the things that are good to focus on early in my investment career that could make things easier when trying to scale down the road? This post is to just stick my foot into the door of this community and welcome any and all knowledge!

@Braedon Kenney welcome to BP.

First you need to know the formulas on how to evaluate a deal. There are many hidden costs in real estate (soft costs) like closing costs and holding costs, that are easy to under estimate. You can find lots of posts and tools here on BP to learn that.

The other think you need to do is look at LOTS of deals. look at all kinds of deals; listed properties, open houses, wholesalers deals, FSBO, on site auctions, and any property you can get into owned by another investor. Ask him or here how they acquired it, what the numbers were or what they project, or any other question you can think of. Until you've looked at 100 deals you don't know what your marekt.

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