24 Year Old - Looking to Start Investing

2 Replies | Charlotte, North Carolina

Hey guys, I am a 24 year old looking to invest in a duplex. I am currently living in Charlotte, NC. My plan is to invest in a duplex within 8 months, and live in one unit while renting the other out. I am a COMPLETE beginner, and I was hoping you all could point me in the right direction in regards to some questions I have:

  1. Why do YOU choose to invest in real estate vs passive investments (i.e. stock market / REITS)? I think I can manage doing the property management on my own (and it seems pretty exciting), so that along with the potential for higher ROI is why I'm interested in it.
  2. Is it possible to time the real-estate market? I know trying to time the stock market is a hopeless task, but what about the housing market? How do you determine if it’s the right time to buy?
  3. How can I determine which areas in Charlotte are the best areas to purchase property in? From what I understand, I need to be in a place that’s safe, with good schools, good neighborhood, etc.

a. Are there any other indicators I should look for when determining which areas to invest in?

4. What constitutes a good deal? Is it as simple as finding a property that is listed for a price that is cheaper than what it’s actually worth?

5. Are there any must read / must listen to / must watch resources that can help me with my goal? I’ve found a few good articles on Bigger Pockets – but honestly it seems like there is way too much information on this site to shift through

6. Are there any other pointers you can share with me? Like I said, I am an absolute beginner and I’d appreciate any insight at all!

Thanks in advance for the help!

@Syed Ali - Welcome to BiggerPockets

You are right there is a TON of great information on here and I suggest you start here:

Ultimate Beginners Guide

It will answer a lot of your basic questions.  After that, I suggest that you attend one of the many local Charlotte Real Estate Investing meetups.  Check the Events section under the Network tab and you will see a few there.  

Best of Luck!

Originally posted by @Chris T. :

@Syed Ali - Welcome to BiggerPockets

You are right there is a TON of great information on here and I suggest you start here:

Ultimate Beginners Guide

It will answer a lot of your basic questions.  After that, I suggest that you attend one of the many local Charlotte Real Estate Investing meetups.  Check the Events section under the Network tab and you will see a few there.  

Best of Luck!

Thanks Chris!