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Updated over 2 years ago on . Most recent reply
New to Real Estate Investing
I'm 26 and just recently started my real estate LLC as of April but work a full time 3rd shift job. I know the basics about investing but since I just started and don't even have the necessary capital to fund my first investment property I feel like there are millions of things to do. I'm basically on my own with this but really looking forward to the financial freedom that this field offers. The problem is that with my busy schedule, I don't have time to establish a solid team. Even looking on how to get financing for a potential property seems like a task. I started this LLC with legalzoom and have to pay fees every month and it's frustrating. I've already set up my business account at the bank so that's one more thing I can cross off my list. But this all leads me to think I just have to pick up the pace and do some more research, but not too much to the point where I'm just constantly sitting still. Again, I'm new to this and would just like some feedback on what would be the next best course of action to gain some type of momentum.
Most Popular Reply
I agree with both @Joe Villeneuve and @Cody Z. - Learn about as many strategies as you can, and then start to narrow down what you'll focus on. You could maybe set aside the next month to just read, attend BP Webinars (please do this, they're great!), listen to Podcasts, and ask questions in the forums. Start off trying to learn "a mile wide and an inch deep". Then, figure out which areas are the most interesting. Spend another month (or two weeks or whatever amount of time seems appropriate) learning "a mile deep" on those very few, narrowed-down topics. Then, dive in! :) If it's wholesaling, make/buy a list and start calling, walking neighborhoods, and chatting with folks. If it's BRRRR or Flipping, find some lenders that go on the value of the deal and then start making offers (after running numbers and knowing what makes sense).
Oh, and starting like yesterday, try to find some good meetups in your area! If you're around Augusta, GA, I can recommend several! :) Getting to network with like-minded folks in your area can be so, so helpful.
I hope your next year self looks back and appreciates how far your current self has come :)