New Investor Looking for Advice and Tips Beginning

[Nathan Witte]

Hello, my name is Nate Witte. I am 23 years old and am eager to begin my real estate investing journey. I have been listening to podcasts and reading real estate investing books since high school. I know that when it comes to real estate investing you need to either have knowledge, money, or time. Currently, I am saving as much money as I can, so that I can eventually make a downpayment on a duplex, triplex, or quadriplex and house hack. In the meantime, what are some recommendations for what I can do while working towards saving for a down payment? Also, what is the best advice for building my network and adding value to the people around me. Thanks and looking forward to connecting with people!

[Amir Khan]

@Nathan Witte congratulations on starting early! While you are saving for down payment, keep reading REI books and absorb as much as you can from REI podcasts. Here are few things that will help you get to buying your first property:

1. Make a list of lenders, then approach them and tell them your plan. They will help you figure out how much you can afford based on your income. This will help you figure out how much down payment/closing costs you need.

2. Once you've done above, now you can start researching and looking at markets where you would like to purchase your first property. Even though you are not ready to buy now, this exercise will help you understand REI dynamics of the market and what type of inventory sells for how much..

3. Search for real good real estate broker/agent who works with investors. Someone who does not mind answering your questions. One great place to find one may be at your local REIA.

Hope this helps..