Beginning / Research

[Jacob Paxton]

Hi there, I'm a civil engineering student that's graduating in winter of 2016, with plans of pursuing my civil engineering career while investing in real estate. I've been introduced to real estate investment through an older friend of mine -- and he got my attention. I have recently obtained a Co-Op job and want to take these months while I am working to put in the research needed to become effective at real estate investment. My short term goal right now is to become familiar enough with the business to buy my first duplex while I finish up my last two semesters at school. With long term goals being retirement from civil engineering within 20 years using the buy-and-keep method of real estate. I am constantly reading articles and discussions on bigger pockets (I have also read the books that biggerpockets gives you when you sign up), and becoming more eager to dive into the industry! A few of the things I am thinking about right now: Quick ways to analyze property without the relying on a realtor for MLS and comps. I've been messing around with getting averages of rents in different areas then dividing by 1.3%-1.6%(The rule of 2 seemed pretty harsh) and using the resultant number to estimate a worthy price. I am under the impression that renting prices usually are not negotiated and therefore would be good to use as estimates. The difference of analyzing single family homes vs multiple family homes. From what I've read so far, most people look at the value of a multi-family unit based on what income they provided for the previous owner. This did not make much sense to me since the reason for a low income could of been due to poor property management and not just the property itself. Also; Books! I already know I am going to buy Real Estate Investments and How to Make Them by Milt Tanzer. If anyone has a recommended book for anything for property management (landlord view point) to property analysis or maybe something else you believe I should look at, please let me know!