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Updated 8 months ago on . Most recent reply
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Beginner Questions - Forum Etiquette, Research, Networking.
Hello,
My name is David. I am a 24 year old active duty sailor. Next year I will return to civilian life and make around 120K a year ( + or - 20K). I will be working remotely which means I have the opportunity to live at home with my parents and focus my income on building a real estate portfolio.
1. I would appreciate any advice or tips on forum etiquette when communicating with experienced investors or in general. I did read a post about questions which lead to no positive outcome. After reading that I'd rather do my due diligence than come off as unprepared.
2. My plan at the moment is to look for single family residences in or near my home city (Mobile, AL) in the price range of 50k - 75k to BRRRR. I have an area in mind that is currently undesirable but based on market trends seems to be primed for growth in the next 5 years.
Any advice on research I could conduct before diving in, or other avenues I could explore to start and build my portfolio would be greatly appreciated. I am concerned that I could be taking too much risk by investing in a currently undesirable area versus spending more to enter the market in a more expensive area nearby that is currently thriving.
3. How common is any form of apprenticeship under an experienced investor? If that is a common occurrence then what might your collective opinion be on diving in head first versus collaborating with an experienced investor?
As for networking in general, once again, any advice on communicating and building relationships that will accelerate my growth is very greatly appreciated. I currently have solid relationships with a real estate agent, as well as a quite a few tradesmen in the area. Any tips that might help me expand my contacts and find some form of mentor would be immensely beneficial.
4. THANK YOU! People who are willing to collaborate, and help others along the path truly make a difference in the world. If there is any value I can provide in return even as an amateur, please let me know!