New to Real Estate, any tips?

Question

Hi! I am 19 years old and currently attend college. I have recently gained interest in the real estate business and I don't know the best way to go about starting. I guess what I am asking is, for tips from experienced investors. How should I get started? Is it smart to save and gain as much knowledge as possible and once I graduate start finding properties? Anything helps, would love to hear opinions and how you guys or girls went about it.

Anibal Mijangos · Answer

Highly recommend starting off by reading and consuming as much REI content as possible. From Bigger Pockets, podcasts, and youtubers. Find a branch of real estate investing you'd like to focus on first (i.e. short/long term rentals, wholesaling, flipping, SFR house hack, etc) and get started there. You'd spread yourself too thin trying to go for all of them. Would be a good idea to connect with people in your local community so they can show you the ropes in a more detailed manner. Then by the time you're ready to do something on your own, you'll already be confident enough to do it.

Gregory Nelis · Answer

Real estate is expensive. You need to have deep enough pockets to purchase AND maintain the property. It is easy to get over your skis in this business. The best place to start investing is purchasing your own property to occupy. Be this a condo or a single family house, it will teach you what it takes to buy and maintain a property. You can try to rent out bedrooms at that point  to ofset the cost. Also, unless you are particlularly handy, you will need to develop a team of trusted plumbers, electricians and other maitnence personel. I havent had to replace a water heater (yet) but I know i dont want to try to figure it out myself when the hot water goes out in a tennant occupied property!

Build some financial security, then get a property.

Joshua Janus · Answer

One strategy with a huge payoff is the house hack. Spend as much time learning about it as possible and see it that is something you would be willing to do.

New to Real Estate, any tips?

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