Updated over 3 years ago on . Most recent reply
How Do I Start Investing?
Hey! Newbie here,
My name is Andy and I am a 20 year old that attends Liberty University. My dream is to invest in rental properties and live off passive income. I do not know much about real estate investing, but I have been listening to the Bigger Pockets Podcast and the Real Estate Rookie Podcast. While listening to these episodes, there are two things that I should do. One being buying Bigger Pockets books and learning that way so I bought both The Book on Rental Property Investing and the The Book on Investing in Real Estate with No (and Low) Money Down, and I am currently reading them both. The second is to be active on the Bigger pockets forums.
Most Popular Reply
@Andy Anderson 3rd: Get creative.
The market we're all experiencing now lost it's mind. When you're ready to buy a property look in places outside of the norm. Be confident in what you're buying (market research) and stick to your numbers.
4th: Listen to experienced investors.
Your Mom, Dad, and friends who never bought rentals, flipped property, or did anything in this industry shouldn't be giving you advice. You won't learn much from them unless they did or actively invest in your market. Evansville, IN is not Los Angles, CA. The numbers, rental rates, and strategies are different.
5th: Networking is fun.
If you're like me and didn't come from money building relationships is everything. Every ounce of success I've had in my short amount of time with REI came from networking and relationships. It's difficult to be successful without professional help or offering value to other investors, sellers, or partners. You don't have to buy something to add value.