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Updated over 4 years ago on . Most recent reply
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Any advice on approaching my first deal?
I'm 27 and currently have two jobs. My first job is an in-home support service provider taking care of my roommate which isn't too demanding. So far my healthcare job has allowed me to live with low expenses and high cash flow. My third job pertains to helping manage a small independent bookstore that I'd like to invest and own someday.
My life style has allowed me to save up $40k in capital to work with specifically for real estate among other assets I've diversified my investment portfolio like stocks and lending. I currently reside in Whittier of southern California and I'd love to get into real estate. Until I make my first deal, I'm just not sure what to do first.
I question constantly what I should focus on learning first. Should I earn a real estate agent license? Should I continue educating myself on accounting and taxes? Maybe finish some of my Biggerpockets real estate books and continue to save for a deal and find connections?
If you have a second to drop a line it would be most appreciated! Thank you for the read!
Best,
Jason
Most Popular Reply
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@Jason Brown I would 100% focus on "finish some of my Biggerpockets real estate books and continue to save for a deal and find connections".
You're going to gain more from reading, understanding how to run numbers, estimating rehab costs, and finding your niche. You DON'T need a license, and you DON'T need taxes and accounting skills. That will come once you get an investment! Develop a team that includes people with those skills. Taxes are incredibly complex. Marketing and selling houses takes time. As an investor you can't and don't want to do it all.