How to get started

[Dorian Redden]

Hi! My name is Dorian and I am new to real estate business and I have yet to make my first deal. I have been doing my research and trying to learn the ins and outs of the business before I actually get started, but I do not want to be reading and researching forever. I feel as though the only way for me to really get to know the business is through trial and error. However, I am not 100% sure which way would be the best way to go to get started.

I have read several books and articles that say that wholesaling is the best way to get started because you do not actually own the property, you just sell it (kind of like the middle man?). On the other hand I have read other books and articles that say that it is better to do the buy and hold strategy and rent out a home or apartment to bring in steady income from the property. 

I personally feel as thought I do not have enough experience to start out buying a property and renting it out, but I am just curious as to what some of you may have experienced and how you got started.

[Emily Lopez]

I can't speak to wholesaling as I have never done it and don't know much about it.  

If you feel you are not quite ready, I would recommend starting to save as much cash and set it aside as you can. If you don't have any to spare, get a part time job to start saving that extra cash flow.  I worked and saved and saved for a long time before I bought my first rental property.  The period while you are learning is a great time to be saving for when you are ready.