Newbie to Buy and Hold

2 Replies

Hello guys! I'm very excited to be here. I recently started listening to the BP podcast and after hearing to Josh plug the sight so much and all the praise people have to give I've decided to start studying and become an active part of the community here.  I am only 20 and decided a few weeks back that I am going to give my all to real estate. There are a few reasons I chose real estate. 

1. I enjoy working with people, my hands, and bettering the community. 

2. It's a great long term investment

3. After reading about multi millionaires I kept on coming back to real estate

4. I want to create a better lifestyle for my family, myself, and future kids.

5. I want to create a generational wealth

My plan is to mainly buy and hold. I am beginning this by saving up for a downpayment and light reno On my first property. In the meantime I plan on getting my real estate license and apprenticing under a local investor in order to further expand and strengthen my foundation. While in this process I want to outline my criteria for finding and creating cash flow positive properties. Eventually I would like to try my hand at flipping, however my goal is to gain a decent amount of passive income and invest in local communities first. I'm sure I might find myself doing a flip here and there when the deal makes sense, but my main goal is buying and holding.

Thank you guys for reading my post and hopefully investing in me! Also, if you guys have any great articles, books, or forums a link would be amazing! 

Hi @Ethan Allen ; Welcome to the BiggerPockets forums!  I want to applaud your work at digging into the "why" behind getting started in real estate investing, as well as your vision to apprentice under someone first.

You'll have a bright future ahead of you if you stay humble, stay hungry for growth, and stay focused.  Avoid the shiny objects that don't line up with your vision, values, and goals, and continually follow the rhythm of prep, do, and review.  (rapid reiteration).

Here are three books I would recommend starting out:

  • - The Millionaire Real Estate Investor 
  • - The Richest Man in Babylon
  • - The Speed of Trust