Updated 9 months ago on . Most recent reply
first deal advice
Hello. I am interested in getting into real estate investing . However I am in fear of buying a bad deal and losing all of my saving. I feel that I may need a mentor to guide me through my first few deal. Is there perhaps a real estate investing school that is available that I could attend to learn more about real estate investing? To learn more to find deals, and have more confidence in deal structure.
Most Popular Reply
#2 House Hacking Contributor
- Real Estate Agent
- Los Angeles, CA
Are you looking to invest locally or out of state?
Even with a mentor, there is risk, just like with any investment. So I will say how much of your savings are you willing to risk?
As others have said, house hacking is probably the safest way to go to get started. I started with a condo house hack and I have scaled from there.
If you can't house hack for whatever reason and you are truly concerned (which is valid), then maybe start with a small under $150K house out of state (Alabama, Ohio, etc.). Use up less of your savings but you are getting your foot in the door.
The reality is the best lessons are on the job training. I've learned more hands on than I could in any class.