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Updated over 8 years ago,
Best low money & Best high money investments?
Goodmorning BP! Hope everyone is having a fantastic morning!!!
A little back ground: My name is Trey Brooks (19). I've been interested in real estate since I was 7 with the discovery of HGTV😂 (It's just something about houses that really cranks my gears (; )
Anyways, my father is a musician. A few years ago he decided to build my mothers dream home in Sugar Land, Texas. (By Houston). He bought a lot of land for $50,000 & built a house on that lot for $700,000 (Total investment of $750,000). A little over a year ago he sold that house for $2,200,000.
That is where his interest for real estate was born, but his passion is his music career & he is currently on tour (But due to him growing in age, he wants to get out of that lifestyle). He has assigned me to learn all that I can about real estate investing. So that when he gets back I can basically teach him the ropes then we can conquer the world of real estate investing together. Id be the brains & he'd be my cash source.
With that being said, he also wants to put his money in high Yeilding investments (seeking capital gains at the moment, then rentals for wealth building.) Kind of like a duplication of the accidental flip I mentioned above. Along with partnering with people developers.
I've spent the last 10 months reading text books (cover to cover), personal development books, meet ups, seminars, internships, etc. But I haven't been able to get the practical application that I believe I need to make things come full circle.
As a college freshman, in a cage with many distractions, I decided to visit my grandparents in Jackson Mississippi for the summer in order to get rid of all distractions & put all of my energy into my passion (real estate)... Learning/Doing all that I can before I go back to school in Texas (University of North Texas) and I definitely plan making this happen while attending school.
My questions are:
•How did y'all get started, with doing something actionable?
•What have y'all experienced that has yielded the most return on investment?
•Has anyone else done parent & child relations similar to my situation?
•If you were myself, how would you go about seeking practical application?
I've kinda started with wholesaling (since it teaches you a plethora of strategies / skills).
I've started putting letters on people's doors, talked to my first motivated seller last night/ meeting with her this afternoon. Still trying to get over my fear of door knocking, which I think will happen in an hour😂.
Sorry this is a long post, but I'd appreciate all feedback.
-Thanks in advance, Trey.