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Updated over 6 years ago on . Most recent reply
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New here, looking for advice
Hello! My name is Tailine and I am 22 years old. Currently working as a full time nanny but tired of working for other people. I am getting married in May of 2019 and have been trying to figure out what i want to do as a career. My ultimate goal is definitely to reach financial freedom and I am very interested in becoming an investor but have no idea where to start. This will probably be a long post but i appreciate those who can give me some advice.
My plan right now is to get as much information as a can through podcasts and books. I have purchased a few books on investing (recommendations would be great) and have been listening to all the Biggerpockets podcasts. I plan on taking the Real Estate Agent course to learn about the business and really know what i’m doing but i won’t be able to do that until after my wedding.
I would like to be able to purchase my first home by the end of next year but have no idea how realistic that really is, my fiancé and i currently have no money saved (what we have will be for our wedding). And also don’t know if it’s the best idea to jump right into it. I want to buy a multi family house and rent it out as my first investment.
A few questions:
Is it a good idea to become a Real Estate Agent first before becoming an investor? Or is simply taking the course enough? I’ve read a lot of mixed opinions on this.
Would it make sense to quit my job to fully invest my time into learning more?
What is the smartest strategy when it comes to purchasing my first home?
Most Popular Reply
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Welcome Tailine! BP is a great source of REI information and can provide many answers you may be looking for. Will was referring to Wholesaling which is basically finding properties off market and flipping them to another investor without ever owning the property. It is a great start to your REI journey because you learn how to market to homeowners and you begin to educate yourself on rehab costs. PM if you would like more information on this topic.
Exiquio