Hi, I’m new and just learning about investing and I am looking for someone near me who can teach me a little more about it. I’m not sure how this works but I’d like to get into a multiplex and rent the other side(s) but haven’t a clue where to start. I just want to learn how to live a little more free and develop a passive income stream to eventually get out of my 9-5. I just need a little guidance here 😁 Thanks!
@Chase Bowden - Glad to hear you are interested in getting into investing!. I would start off by finding your local Real Estate Investors Association and joining. They are great places to meet folks active in the market along with learn more about investing.
Free steps you can take to move in the right direction:
-Since you will be living there, I would first narrow it down to places you would want to live. Then try out the BP calculators or something similar to run the numbers so you can get your mind thinking in the right direction.
-Go get preapproved for a loan and figure out how much you need to save. The amount is much lower since you'll be living there.
-Go to a local REI meeting. Just be wary as they are frequently selling something.
-Talk to everyone you can about it. People will think you are taking a lot of risk and try to dissuade you with stories of their uncle losing everything. Listen, be polite, and explain to them why your approach is more thought out. If you can do this then you probably have a good grasp of what you're trying to do.