Updated about 12 years ago on . Most recent reply
Beginner in Georgia
I signed up for the website when I graduated college--then life got in the way and I forgot about my dreams.
I am back, and as I sit at my desk.. realized.. I want to work for myself eventually.
Long story short.. I want to own rental property. Easier said than done, clearly. I just need to find my starting path, and was hoping that someone out there can help guide me along the way.
Notes:
I studied Housing and Consumer Economics in college. I have been in Property Management for 4 years now. I am currently getting my RE License.
I would like to own a small 3-4 unit property probably back in my college town--rent to sorority sisters to get my feet wet--then eventually expand.
As far as the PM portion goes, I feel extremely confident that I can navigate those waters. I have been doing it for a major company now for a while. No issue. I have made vendor connections along the way.. etc.
But--how do I go about actually getting a property?!? I am assuming it is a tad bit different than the "let go buy a home, honey" mentality I used in my home buying adventures.
Just.. where do I start?
(Do I sound scatter brained.. I feel scatter brained...)
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#2 New Member Introductions Contributor
- Specialist
- Rockland, MA
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#2 New Member Introductions Contributor
- Specialist
- Rockland, MA
Welcome.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 40 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.
Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook
Consider checking out HUD homes for small multi's owner occupied gets first crack.
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Good Luck
Paul