I am a 20 year old student currently at the University of New Hampshire who just recently sparked a large interest in real estate investing, especially in rental and multi-family homes. My question relates to how i might go about educating myself using resources other than a book or website(book recommendations would be greatly appreciated as well)? What are the best ways to get hands on learning in the real estate industry? Does it come from talking and networking with local realtors and other investors, shadowing or working in an investment firm? What were some of the ways you got started in the industry that involved hands on learning?
Easiest way to learn things like rehab and the costs of such is to volunteer with habitat for humanity, other than that you can just analyze properties to get a feel for your market after a while you will just know what a property should go for.
If you have time for a part time job, you could work with a property management company. You would learn the ins and outs of what ti takes to have properties- how to deal with tenants, manage repair requests, fill vacancies, do inspections, handles all the nitty gritty. THis is the part that boots people out so knowing this and being able to handle is the way to go in my opinion.
I had someone who freaked out that there was a scratch on the front door after someone had lived there for 2 years..They preferred to sell the house than deal with tenants and repairs...
@Charlie Lehoux Welcome to the wonderful world of real estate! The first book I recommend to everyone to open your mind is usually Rich Dad Poor Dad. It's life changing. Also, youtube is a huge asset, you can learn ANYTHING on there. I would follow Grant Cardone and Gary Vaynerchuck on youtube. Absorb as much as you can so that you'll be ready and armed with knowledge for your first deal. You can also attend free real estate meet up groups and listen in. There is one in Haverhill MA if you want I can send you the details.
Hey @Charlie Lehoux ,
Welcome! I am in the education phase of my real estate investing career as well. I'll agree with @Stefanie Willie-Bonglo that Rich Dad Poor Dad is a great first read. Really starts getting your mindset on track for success. I'd also suggest getting your hands on The Book on Rental Property Investing by Brandon Turner. I'm currently reading it, and must say he did a great job creating a comprehensive book with "straight to the point" detail.
As for hands on learning, I'd suggest starting with building your network. Go out and meet as many people as possible and begin learning what people do. Find ways to help and support others, in exchange for some invaluable OJT. For example, I met someone who agreed to mentor me and in exchange, I built him a website to help systematize his rental portfolio.
Good luck on your journey, and feel free to message me if you'd like to connect!
Hey @Charlie Lehoux , I️ graduated from UNH in May and have been investing in rental properties for a couple years now. I️ live over in Portsmouth and work as a commercial real estate agent now and am constantly looking for deals and opportunities in the seacoast area. I’d love to connect at some point, shoot me a colleague request
Hello Charlie, I was in your shoes not too long ago. I graduated from UNH in 2016 and now work for a property management company in the area. I would be happy to connect with you sometime about getting started. Feel free to message me with any questions.
Money management, financing and investing is all available in books and forums. For hands on experience/learning find work in the building trades, property management or a large corporate apartment property company.
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