Newbie, don't know how to start

[Account Closed]

Hello, I'm new to posting in these forums. I always go through these forums looking for any tips I can get but I think it would be better if I just post my situation. I'm really interested in real estate investing. I know very little but would love to learn a lot more. I live with my parents and have a minimum wage job. I was looking into buying a duplex as my first rental property. The problem is I don't know how I would get it financed or what to do. I currently only have 3k but my goal is to get to 10k before I start my real estate investing career. If I were to start now, how would I go about doing it? Any advice or tips would be appreciated, thanks!

[Karen Rittenhouse]

Hi Cristian:

Welcome to real estate investing! You're never too young or too broke to start - and in 10 years, I promise, you'll be so glad you did!

The best way to start out is to get some education - which doesn't have to cost much at all. Reading here is great. Another very important source of TONS of information is to search for any and all investment meetings in your area. ATTEND them! You can find REIA meetings (real estate investors association) in your area by going to this site: www.NationalREIA.com

Also, Google for meetings, check out meetup.com, and look for landlord association meetings.

From these groups, you will learn the vocabulary, areas around you that are best for investing, vendors to use (attorneys, title companies, etc.), local ordinances and laws, and who the players are in your area that may be willing to take you under their wing while you learn.

This is a people business and the more people you know in your area who are doing what you want to do, the shorter your learning curve will be. Don't get stopped, keep learning and go for it!

Here's wishing you tremendous real estate investing success!