Need Advice - Where to start?

Question

Hello,

I am currently interested in getting into Real Estate as a career. I am 21. I have no experience or knowledge of anything. I feel it would be unwise to jump into this field with no knowledge of it. Where should I start? Real Estate School? What should I do when I get out to "learn the ropes?" Where can I learn how to appraise a property and rehab costs and how much it could be worth after the rehab? I am starting from scratch here. I don't even have a foundation to build anything on. So I have to build a strong foundation first. ANY advice will be much appreciated! Have a great day!

- Connor F.

Kyle Critchnau · Answer

Oh, and welcome to BP :)

Kyle Critchnau · Answer

Honestly, just hang out here. Find a niche that you're interested in (whether it's short sales, foreclosures, tax liens, etc) and a strategy (wholesaling, flipping, long-term rentals) and learn as much as you can, not just about the real estate investing side, but about the real world side as well. Find out what the limitations are on you as a real estate investor with whatever strategy and niche you decide on. And then, DO DEALS with whatever you decide on. Those of us on here (especially those of us in the Tulsa area) would be happy to help out. I learned more on my first deal than I had in years of reading and research. I've been interested in real estate since I was at TU, but I only just recently started taking action on it. I've learned more practical knowledge here on BP than I had in the previous 5 years of "free" webinars (which are really just sales pitches disguised as training sessions) and guru email blasts. How did you decide to get into real estate?

Chris Simmons · Answer

Welcome to BP.

There are two issues I see.  First, that class at tulsa tech is overpriced.  Second, it will teach you nothing about real estate investing.

The sole purpose of that class is to teach you what you need to know to pass the realtors exam.  You will not learn how to invest or even how to be a realtor.  It is simply an education of the rules and limitations of having your license.  Having recently taken a similar class and having passed the realtors exam a few months back, I know this first hand.

Start investing first and then determine if getting your license will be beneficial to you.  Otherwise, don't get your license unless you are confident you want to be a realtor that works with buyers and sellers in the traditional sense.

Read more on Bp and the amazing threads.  Listen to the podcasts.  Also, come to some REIA meetings in town.  @Jason Windholz is a good resource as the head of the tulsa reia.

Finally, message me and perhaps we can meet sometime.  I am in Owasso and should not be too far a drive for you.

Connor Francis · Answer

Thank you all for your responses and advice! I called Tulsa Tech college today on my lunch hour to inquire about classes. It's only $465 including books. From July to September. The nice lady I spoke with, however, was not able to tell me how much it costs to take the exam. She did refer me to the real estate coordinator and I am planning on calling her everyday on my lunch hour to get more details. Gad to know I have been acknowledged on here and am not alone in my troubles. Feels reassuring!

Bradford Myatt · Answer

Hey Connor. Welcome to BP. You have come to the right place. I was in your position about a year ago. I have learned so much from this site, especially the Podcasts. I listen to them in my car daily, and hearing from other investors is invaluable. Keep reading and use the resources at the top of the page. Also, SAVE MONEY! At some point you will need it. All the best.

Victoria Winters · Answer

Hi Connor,

Welcome to Bigger Pockets!  You have taken the first step by asking questions on this site. There is a lot of information, help and advice to be had from many of the investors here.

You can start just about anywhere in the real estate industry depending on what is of interest to you. Consider getting a real estate license. There are several options for the course of study required to take the state exam. You can attend community college, university or take the required courses from a real estate school. There are independent study courses available online if that suits your learning style. I can make recommendations if you are interested.

Starting a new career and/or business requires study and taking action on the things you learn. Real estate is such a large industry and the opportunities are enormous for everyone involved. You will continuously learn as you go along and it is always interesting.

Please tell us more about your plans and what actions you have taken so far. There is help everywhere and all you have to do is ask.  I am looking forward to following your career.

Tim Palecek · Answer

Welcome Connor, you've definitely come to the right place.  I haven't been here long and have already learned so much!

Your best bet is to really take your time and explore Bigger Pockets.  A good place to start is the beginners guide.  From there I'd hit the bigger pockets podcast, blog, and sift through and subscribe to the forum categories you are interested.

Good luck!