Hello everyone! I am very happy and thankful to be joining the BiggerPockets group!
I just finished reading "How To Invest in Real Estate". After reading this book I figured out a plan that I will execute once I save enough money. Currently, I am a college student, I work part-time at a fast-food chain. I am planning to move to British Columbia once I graduate Civil Engineering (major:tbd).
My plan for my real estate journey is to first: house hack and save as much money as I can by living below my means. Second: I will buy a single family home or duplex to BRRRR. Third: Once I build enough equity I will buy an apartment or condos and take it from there.
Any advice on ways to save/earn money during my age? Books to read about Real Estate Investing/self-development? Any advice on my plan or other alternatives to reach the goal of financial freedom quicker? Any mistakes I should be wary of before starting my journey?
Thank you very much for taking the time to read my post. I appreciate all the advice I could get.
Invest in your knowledge at this point in your career and will figure when and how to invest for yourself after that.
@Stephen Keighery Thank you very much for taking your time to read and reply to my discussion post! I agree that I need to invest in myself and knowledge first.
Hi @Yllan Lalic,
If you want to make money and make it fast, then you need to provide massive value somewhere in the marketplace as quickly as you can. I would find someone who is where you want to be and offer to work with them for free to see what they are doing and to see if they'd be willing to partner with you on big deals after you provide a ton of value to them. This will give you connections and experience very quickly and the opportunity to get to your goal.
Also, I would suggest getting these books:
The number one book I would suggest to understand your business from the financial side would be to read Profit First. Without any financial literacy, it tells you how to manage the finances of your properties and business.
The second book is Gary Keller's The Millionaire Real Estate Investor because of the practical tips offered in the book.
The best experience will be doing a deal and actually getting your feet wet.
Make offers, talk to people!
Good luck on your journey!
@David Richter wow thank you very much for taking your time to read and reply to my post. I appreciate it very much! I will keep in mind that once I move out of Winnipeg I will find a mentor who I can work for and learn from them. I will also read the books you suggested! Thank you, this is very exciting for me.
Hi bro! I am from Winnipeg! Lets connect!
I'm also a young prospective investor in Winnipeg and currently looking for my first deal which will be a house hack. Just want to say all the best to you and if you ever want someone to talk RE with, i'm game.
@Andrew De Leon sure man! Im glad I found an investor in Winnipeg also!
@McCallum Ching goodluck to your real estate journey as well! Im also thinking of house hacking for my first deal
Good to see there are some people from Winnipeg on Bigger Pockets. I am also from Winnipeg and currently renovating my basement into an "attached secondary suite" to rent it out. The plan is to buy a duplex or something of the sort after this project is complete and see where things go from there. Like McCallum Ching noted if anyone ever wants to talk RE I would be interested as well.
Yllan Lalic, good for you for having a plan and doing the research! School is of course important, and as you progress with real estate you'll be surprised how much knowledge you gain.
As many of us on this thread, I'm also from Winnipeg. Still learning for my first personal deal, but I'm a commercial real estate agent as well, so it's nice to have that perspective I suppose. Would love to meetup with others once these restrictions have opened up and chat RE.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you