Future investor looking for advice

[Jaiden Alivera]

Hi, Im a recent high school graduate who has decided to take on realestate investing as a career. I find myself knowing that im in the perfect position to start off my career, but I'm a bit scared and confused on what route to take. I try to read books on different kinds of realestate investing and house fliping and I do think that they are useful but the information never seems to have a correct fit. With this kind of field its almost like all the info is out there but you dont know what to be looking at and in what order. I planned on starting off saving money for a year or so and using that for a downpayment too a property to then be able to flip in order to build capital. After doing that I wanted to get into multifamily rentals but I'm wondering if that's even the right way now. I know that it's not nearly as clear cut as that but that was my general plan. I also was hoping to be working fulltime during the start of this but im realizing that the job I have now isn't going to allow me to meet these finanical goals and now im wondering if I should take on a career in realestate, but the only one I really know of is realtor. 

Im really just looking for information of what i should be foucusing on right now and what subjects to be researching in what order. Also jobs that can get me a head start into the field and what kind of investment I should really start with. I want to learn all I can but it feels like I need to build a better foundation of the diffrent principles of real estate so any books or texts that you would recomend would be great. This is about the only time in my life where I will be able to save money without finantial burdens and I just dont want to screw it up.

[Nathan Gesner]

Quote from @Jaiden Alivera:

Property management is the best way to get your foot in the door. There's a lot of demand for hard-working, honest managers. You'll learn about all aspects of management and can learn more in one year than most managers learn in a decade, all while earning a decent paycheck. You can get your real estate license, enabling you to sell on the side for additional income. You will learn which properties make good investments, and which ones don't.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Prioritize your financial stability. Eliminate debt, establish a budget, and save. Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts. A prudent investor doesn't seek quick riches through shortcuts. To thrive in real estate investing, you must maintain a firm grip on your finances. Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. NETWORK!!! Get out of your comfort zone. Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away. Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area. You can also find real estate investing groups through meetup.com, Facebook, or a Google search. Birds of a feather flock together!

5. Now, you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum. A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, recognizing a good deal will be much easier when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

6. Study the market. You can learn to do this independently or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.

7. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. You could read 100 books and still need to learn more because certain things must be learned through trial and error. You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is forgiving; the average person can still make money even with some big mistakes.