My name is Christopher, I live in Woodland Hills CA, and I am currently a student at UCLA. Ive always known I want to get started on my real estate journey early, but I am ready to completely jump in and grab my first properties in the next few years (before I start law school). As of now I am trying to soak as much knowledge from bigger pockets books, videos, podcasts, etc. I started a COVID disinfection business which allowed me to raise up some cash that I've been saving up to eventually put a downpayment on my first property. Curious to know if anyone has any advice for a college student who wants to dive in to this world. Thank you so much. Hope everyone has a great day!
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
4y
Don't "dive in". Law school will take up so much of your time, if it was me, I'd postpone starting. You don't need the "Cra$" you'll have to go through with your first property interfering with school. Don't worry, REI will be around, and waiting for you, when you graduate.
Real Estate Agent · Los Angeles, CA · Member since 2021 · 215 posts · 103 votes
4y
Hi @Christopher Sarkissian, I can feel the excitement in your message. Congrats on getting into Law School. Joe is right that "diving in" may be a distraction from what seems like a large obligation to school. However, if you get your team together and trust their guidance it could be a stepping stone into a larger investing career. Team being; agent(deal finder), property management, contractor, and lender. Best of luck!
Real Estate Agent · Austin, TX · Member since 2016 · 96 posts · 69 votes
4y
Hi @Christopher Sarkissian are you able to invest in your current market? If so I would recommend house hacking as it's how lots of investors get their first start. If you aren't in an area you can invest in then, perhaps look at out of state rentals. Find a good investment focused Realtor you can trust and a good Property Manager to be your boots on the ground. If you are considering out of state investments I would recommend Killeen TX as their purchase prices are still affordable. I help Investors buy there regularly (some of which are 1st time Investors).
Another great way to get into the game is wholesaling! This is how I got my start. If you can get really good at finding deals and getting them under contract (at a good price) there are tons of investors who would be happy to partner with you on the deal and provide the financing. I personally know lots of people who have the financing and the motivation, but with no deals on the horizon at all. I did this with very little out of pocket expenses and was able to make good money. It takes a person who can handle lots of rejection and confrontation.
My name is Christopher, I live in Woodland Hills CA, and I am currently a student at UCLA. Ive always known I want to get started on my real estate journey early, but I am ready to completely jump in and grab my first properties in the next few years (before I start law school). As of now I am trying to soak as much knowledge from bigger pockets books, videos, podcasts, etc. I started a COVID disinfection business which allowed me to raise up some cash that I've been saving up to eventually put a downpayment on my first property. Curious to know if anyone has any advice for a college student who wants to dive in to this world. Thank you so much. Hope everyone has a great day!
I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosak to anyone who is starting out. Start listening to the BiggerPockets podcast starting at the very beginning. Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor who is doing what you want to do, and get to know the local lenders/brokers.
Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
3y
House hacking is how most of my clients get in their first deal. It will be a bit harder with CA price points but maybe if rent one unit and then rent bedrooms in your unit can make numbers work. You can buy low down when do a house hack which is great for when first starting out.