28 year old looking to invest but confused on the first step

28 year old looking to invest but confused on the first step

Member since 2019 · 1 post · 0 votes

Hey Everyone,

As the title says I am a 28 year old looking to get started on investing. I have seen numerous videos on Bigger Pockets yet I feel as though there is some information missing. I want to look for properties that would be good to invest in but not sure which is the best place. I searched though websites such as realtor or redfin.com but I hear that these websites are the ones you want to avoid. I also have gone to two meet ups about real estate and found some people to be helpful but also a little vague. I do plan on attending more events but they I was wondering what else I can do in the meantime. 

Something I hear often on the podcasts are how important to take that first step and how nerve wrecking it can be, I want to take the first step but I also want to do it right. I have around 85k which I feel is a decent amount to get started in investing but it took me some time to save this money so I want to make sure I don't make any mistakes I regret. I'm going to continue trying to learn and hopefully take some action soon but if there is any advice on which steps you recommend I would appreciate it.

Thank you!

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  • Investor · Fort Lauderdale, FL · Member since 2017 · 95 posts · 72 votes
    6y

    @Julian Alvarez Congratulations on taking the first steps of learning and getting out there. This is important. The next step is to create a system around it.

    Nothing happens from one-off execution. A single connection, sporadic REI meet-ups, and occasional MLS browsing won't get you where you want to go.

    DECIDE that you want to be a real estate investor, and then go all in.

    Create some routines around the following:

    • - Connecting with deal sources - brokers, owners, and influential third-parties
    • - Education - books, podcasts, blogs, news, etc.
    • - Underwrite a deal every day for the experience - it doesn't have to go anywhere, but you should look for patterns
    • - Building your team - financing sources, property management, attorney, accountant, etc. 

    This shouldn't take more than an hour each day, but consistency is essential. Little by little a little becomes a lot.

    Join the conversationCreate a free account to reply, vote on answers and follow this thread.