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Updated about 3 years ago on . Most recent reply

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Eli Roeschley
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Where to start - real estate

Eli Roeschley
Posted

I am a 22 year old who is about to start his last semester of college, then will finally graduate. More recently I have been trying to think of ways that I can escape the "rat race" that Robert Kiyosaki writes about in Rich Dad Poor Dad. I know that I want to get into real estate as quickly as possible, but I do not know exactly where to start. My significant other and I have talked about house hacking for 1 year to get out first rental property, but that too seems like it will be difficult to find. 

Does anyone have any suggestions (where to start, books to read, BP podcasts to listen to) that would help with younger investors who are looking to start out? 

Any other suggestions will be greatly appreciated as well. I have been reading around the BP forum and it motivates me reading about everyone's success. 

Thank you in advance!

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

When you are 22 and already looking to avoid the rat race in favor of real estate, that can be a disappointing endeavor. It doesn't have to be, but you are basically saying you never want to have a 9-to-5 (you don't have to these days, but still) and just want to start making passive income out the box. What is going to pay for the investments if you don't have a 9-to-5 job, you need that to get a mortgage unless you have 2 years of tax returns as a freelancer, which you might not have since you've been in college. Don't get sucked into the no-money down you can do anything mentality, everyone needs a core skill to make money to use for their investments. What's your college major?

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