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Updated about 1 year ago on . Most recent reply

User Stats

20
Posts
14
Votes
Josh Bugbee
  • New to Real Estate
  • Apple Valley, MN
14
Votes |
20
Posts

Advice for a total novice?

Josh Bugbee
  • New to Real Estate
  • Apple Valley, MN
Posted

My name is Josh Bugbee, and I am 25 years old. I was born in Iowa but raised in Minnesota. I work in fabrication currently, but I have recently discovered that I have a huge passion for Real Estate. I have very little capital and no experience or knowledge behind me, but I have this incredible fire and energy to act on this newfound passion and get into it as quickly as I can.

I have recently been trying to do as much as I can to dive into learning as much as I can, and have been binge listening to the BiggerPockets podcast. I’ve also reached out to people I know personally to gain their knowledge or experience. Since I’ve been listening to the show I figured I would join the BiggerPockets community to try and get in touch with some like minded individuals, connect with, and learn as much as I possibly can from this community and those in it.

So with all that said, what are some pointers, tips, advice, on any and everything having to do with getting into real estate as someone in my position? I feel all I can do right now is save money and continue to learn. I hear about some aggressive funding strategies, but wonder if I have the ability to take these routes due to my lack of knowledge, experience, and reputation.

My girlfriend and I were thinking at first of starting with a duplex, triplex, or fourplex, and continuing to buy those in succession. I start thinking of starting with a multi unit, house-hack, and scaling up in units immediately on the second deal to grow. Yet, I’ve been wondering how feasible starting with a larger multi family complex would be, am I dreaming too big?

I hate to make such a long post that’s so all over the place, but I am just looking for any and all advice or knowledge that anyone can give me on any aspect of real estate investing.

Thank you for reading, have a nice day!

-Josh

Most Popular Reply

User Stats

5,036
Posts
5,091
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Scott Mac
  • Austin, TX
5,091
Votes |
5,036
Posts
Scott Mac
  • Austin, TX
Replied

Hi Josh,

Step one might be learning from the education link at the top of this site.

Concurrently, read Rich Dad Poor Dad, and save as much as you can as fast as you can.

A tip: Keep your credit score high, and your debt to income ratio inline with the type of loan you intend to get.

Good Luck!

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