First Time Investor Advice

[Tyler Benotti]

Hello BP Community,

I would love to begin investing in real estate, but unfortunately do not have the capital to purchase any properties. I'm hoping to gain some insight and guidance as to how I should approach this venture. I currently work 3 jobs, one as a realtor, just to get by. I believe real estate investing can be the vehicle that ultimately lifts me from the daily rat race. Does anyone have any advice or would be willing to link together on a project? I work in the Boston area, but am also familiar with the Metro West, Worcester, South Shore, and Cape Cod areas as well. 

[Kai Kopsch]

@Tyler Benotti welcome to BP; you found the right place to start on your real estate investment carrier! What steps can one take to become a successful real estate investor?

-As a Realtor, you're already in a good position to work with/for investors in your area out of their transaction; you can build a small team, lenders, inspectors contractors and use your commission to fund deals with partners.

-Build up your financial foundation (Fico score). Get Credit Cards to pay off every month, never carry balances, and request every 6 month a CL increase. Open Business Bank accounts and later business lines of credit.

-Gain practical experience by securing a job within the real estate industry. Apprenticeship remains an excellent method for learning and growing in this field.

By following these steps, you can set yourself on the path toward becoming a successful real estate investor.