Questions From a Newbie

[Chris Allen]

Hey there everyone! So I am just now starting to learn about REI. I am currently a full time nurse but want to get involved in investing so that I can have a more secure future for myself and my future family. Some questions I have to start out would be

1) What are the first 3 books I should read?

2) Where is a good place to start? Wholesaling, rehabs, BRRRR, rental, etc... (I have looked to see if I could find a multi-family unit to house-hack, but haven't found one in my area yet).

3) At what point should I really look into doing my investing through a business entity?

4) What is some advice for someone starting out that has not yet had any experience with buying a house, working with realtors, title companies, attorneys, mortgages, or even real estate contracts of any kind?

I am only 23yo and have only been out of college for less than a year, so I don't really have any experience outside of college, work, and apartment renting.

[Alexander Wardell]

@Chris Allen

There are SO many books to read on the subject of REI and business but here are three that I really enjoyed reading.

1. Rich Dad Poor Dad

2. Richest Man in Babylon (Audio version because it had some unique names/words)

3. The Book on Rental Property Investing OR The Book on Investing in Real Estate with No (and Low) Money Down

I would have started out house hacking if I could, but I am not in the position for that to work. I would consider taking that approach. The first thing I did with my partner was form an LLC but we have a great deal of individual assets that we want to protect, but that may not be your case. I would reach out to someone who is an expert in that field and who can give you advice based on your specific situation.

Before I started this REI venture in July, I had already owned my primary residence but my experience was limited. Find yourself a good investor friendly realtor (might take more than one try) and they should be able to point you in the right directly regarding references. Obviously do your own due diligence but I have had good luck with professional references.

Keep digging on this site, read as many books that you can get your hands on, and keep your nursing job for obvious reasons. 

I wish you the best of luck! 

Also work on getting a profile picture so people are more willing to help a face rather than the deeded grey faceless avatar!