New Investor Seeking Advice to Start My Real Estate Journey

[Cory Waldron]

Hi BiggerPockets Community,

My name is I am finishing my MBA program next May, but I have become extremely invested in learning everything i can on Real Estate. I have read a few introductory books on real estate investment, and I am now looking to take steps towards purchasing my first property as I love to greatly research anything I want to start doing. I would greatly appreciate any advice on how to get started, particularly:

1. Should my next step be finding a local mentor and how I could best do this?
2. Many books talk about selecting a great team around you, but do I really need one to start out and how would I create a team if I've never invested before?

Thank you all in advance for your help and support. I look forward to any advice or connections that can help me kickstart my real estate investing journey!

[Nicholas L.]

@Cory Waldron

start with a house hack.  there is no better beginning strategy.

no, you don't need a mentor, and you don't really "find" a mentor.  Just go to meetups and network.  make friends.

do you need a team?  yes.  do you need a whole team to get started?  no.  to get started with a house hack, you need a lender and an agent.  

[Cory Waldron]

Thank you for the advice, i will look into this

[Wale Lawal]

@Cory Waldron

Starting real estate investing requires finding a mentor, networking with professionals, building a team, and educating yourself through books, podcasts, and online courses. Conduct market research, get pre-approved for a mortgage, define property criteria, and use analysis tools. Take calculated risks, learn from experiences, and build a strong support network for success in the journey.

Good luck!

[Nathan Gesner]

Quote from @Cory Waldron:

You don't need a mentor, a coach, an investment training program, an LLC, or any of that nonsense people try to sell on YouTube videos. Think back to any time in history prior to 2010. People saved money, bought a house in a neighborhood they liked, rented it, and held onto it forever. That's all it takes and you'll learn along the way.

There are plenty of books and free information on this website to help you along the way. Listen to the podcasts, read the books and blogs, ask questions to fill in the gaps. Buy property. Learn how to manage it well. Hold forever, or at least until you are smart enough to know when to sell.