Where do I start?

Question

Hi! I am a 21 college student at UNC Chapel Hill trying to get a solid foundation on real estate investing so when I graduate, I can jump right in. I’ve read a lot of the Guides on this website and notice that there is just so much to learn and it is kind of overwhelming. When it comes to building a foundation, should I currently be networking, reading as much as I can, and asking questions? I’m also a bit worried that when I graduate (December 2024 or May 2025), the Real Estate Market will have changed a lot and so many investors will have already jumped on deals and that I have not. Anyone have any advice for me? Thank you so much!

Steven Wesolowski · Answer

The secret of getting ahead, is getting started.

It is vital you connect with a realtor anywhere in the United States, who will take the time to understand your desired type of property and areas of the market you have been looking in.

Learn about the good, bad, and ugly about distressed properties, whether due to condition or title.

Go talk to people. Network and connect with a realtor, trusted general contractor, mortgage officer, private money lender, banker, and attorney.

Jerome Morelos · Answer

Hello Maria, I would continue to invest in your Real Estate education by reading books, listening to podcasts, ect. Also, establish a solid "personal finance" foundation is key. I highly recommend reading "Set for Life" by Scott Trench.

Simon Ashbaugh · Answer

Hey Maria, welcome to BiggerPockets! Building a foundation as early as now is a great move. You're absolutely right that it's a vast and ever-evolving field. So, don't worry about feeling overwhelmed, that's just perfectly normal. As for your focus, those three are essential. Networking connects you with experienced investors and mentors, reading expands your knowledge base, and asking questions sparks critical thinking and clarifies what you need to know. Never hesitate to ask questions if you don't understand a thing as its a crucial part of your learning process. While it's good to explore different real estate aspects, choose one or two areas to delve deeper into initially. Mastering the fundamentals in a specific area is more valuable than having a shallow understanding of everything. Also, don't worry about missing out on current deals. There will always be new opportunities. Focusing solely on the present market can lead to impulsive decisions.Its also highly recommended for you identify a strategy, pick a market that matches that strategy, build your Core 4 specially when you're doing out of state investing https://www.biggerpockets.com/blog/core-four-real-estate-teamThe main challenge I observed is that individuals often lack a clear end goal or strategy, or they select a market that doesn't align with their chosen strategy.Lastly, find a mentor, one that aligns with your goals. You may seek advice from lenders and brokers, most will be able to provide one. Consider how you can add value to the mentor-mentee relationship by leveraging your strengths. Building your network takes time and consistency. Be real in your interactions, share your goals and don't be shy about giving back. Relationships are a two-way street and the more you invest in others, the more likely you'll get valuable insights and support in return. Hope this helps!

Christian Ehlers · Answer

Keep learning from the bigger pockets podcast and I'd recommend Set for Life by Scott Trench as Jerome did, as well as David Greenes new book Pillars of Wealth.

For now it's about learning as much as you can, making friends with people who have already done it, and getting a good financial base so that you have somewhere to grow from.

You're on the right track just thinking about these things at this age! I had the same fears when I was an agent at 21 but come to find out there will always be deals and always be business to be had.

Randa Dehaan · Answer

Hi Maria! So awesome that you want to get started as soon as possible. First of all, there will ALWAYS be deals out there so don’t worry about what people are able to get while you’re still beginning. The right deal is when the timing is right for YOU. Second, attending networking events now is a great way to learn from real people & make connections with people & mentors that are currently active in the real estate market. You can typically find these events on eventbrite or meetup.com. It’s a really good way to learn about different strategies & what seems interesting for you to apply in your RE journey. Would love to chat more if you have any questions around first time buyer/investor financing!

Jonah Hartsburg · Answer

Hi Maria! It's fantastic that you're starting at a young age. I'd encourage you to read through other Starting Out forums to get further input on where to begin.I wanted to address your last point, as I also had a similar concern when I started. I worried that if I didn't act quickly, the market might undergo significant changes, and I'd miss out on opportunities. While it's true that the market may evolve by the time you graduate or are ready to take action, it doesn't necessarily mean you'll miss out. Deals will always be available in some form; they just might look different. Keep up the learning process—you're on the right track!

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