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Updated over 4 years ago,
Where do I start in Real Estate Investing?
Hi everyone,
So I asked this type of question a few weeks ago but I just need some kind of clarification. Basically I am 20 years old and a licensed contractor in NY Metropolitan area. I am interested in learning about and getting into Real Estate. I want to become a Real Estate Investor and eventually a developer (maybe). The reason being the financial freedom that comes with it. I have my own construction company and have two more business goals, become a RE Investor and start my own trucking company (Yes, I have experience in trucking and I love driving so this is a good path for me). Obviously trucking is a whole different industry but I thought I'd mention it. My question is where do I start in Real Estate? I want to learn the terms and methods of being a Real Estate Investor. I know that BP is a good place to start, my question is what tools here would be good for me? The problem I will have when making my first RE purchase is money. The method that I have somewhat of an idea about is BRRRR. What method do YOU think would work for my situation? My goal is to start in residential and eventually get into commercial and build a portfolio of $100 Million+. Obviously this is a huge goal which I know I will accomplish. I am determined to learn and I will. I literally pray everyday for success physically, mentally and financially. Is it worth investing in Long Island and the 5 boroughs? I looked up properties in Ohio, Florida, North Carolina and Florida and it is significantly cheaper. What tools can I use to learn about Real Estate Investing and learn the fundamentals and running the numbers? What method would you recommend I start off with. I'm not looking for a get rich quick scheme but I AM looking to become financially free within the next few years and grow bigger and better as I go on. My inspiration for getting into Real Estate was Manny Khoshbin and seeing his collection of cars. What pretty much has me locked in is listening to Rich Dad Poor Dad (Audiobook). I just finished it a few days ago. Looking forward to your recommendations. Thank you!