Im new to this, where should I start?

Question

Hello!

I'm (brand) new to this community. I actually was doing my due-diligence and doing some research on TheLandGeek and google led me to a rant thread that brought me to this site. I noticed a lot of informed and intelligent responses to the poster's complaint and I thought this community seemed like a well-informed and knowledgeable group.

I have just started taking my finances seriously, I'm 25 years old (wish I came to this realization earlier when I was... 12) and I have been trying to find the best ways to let my money grow. I have, from day one (let's say October 10th actually), aimed to make informed decisions and go about everything in a prepared and studied manner. My first move was to put money into the stock market. I have been reading books about stocks and investing, following people who I feel are pragmatic and honest in their evaluation of companies and the market in general, and followed up by reading the SEC filings of companies I invest in. I'm not investing to make a quick dollar, I am investing to maximize my returns and master the areas where I put my money.

That aim to master my respective areas of investment has led me here (accidentally). I have had an interest in someday buying property, I cannot afford it at this point in my life, but in the future when I have adequate money to make the move I will certainly consider it. Until then, I want to learn as much as I can so once the choice is made I can approach the market an expert in everything but actual hands-on practice.

I am here to learn and make connections.

So, where can I start?

Account Closed · Answer

It all depends on what you want to do, multi family, flips, wholesaling, mortgages, etc. when you think about these things first your next ideas will naturally come as well, like what would I do in a more specific way in that broad area, etc. but what I'm getting at is it all starts with a small plan and then that plan expands when you learn more about what you want to do and refine that to something very specific. On another note, I'm just 14 years old, I work for some investors with bird dogging and I am trying to get an internship (it's just very hard for somebody as young as I am). These are some steps I'm taking to help myself learn about real estate, hope this helps you out!

Kevin K. · Answer

Well, like the others said I certainly was anything but focused on finances when I was 14... Though, I had a good amount of money on World of Warcraft. Good stuff. I think right now, I just need to have an overall picture of the system. Understanding the legal parameters and grasping the big-picture pros and cons to each approach. Like anyone else, I want to have the largest gains with the least amount of risk. Obviously, if such a thing existed the market would be over-saturated. So perhaps having a strong reliable stream of passive income coming in and being an expert in that particular area to mitigate the risks is most appropriate.I'm at the very tail end of my military obligation, so the first and most immediate goal is to develop some human capital so I can have a good primary source of income and then grow from there. Real estate and stocks are my main areas of investment interest and this seems like a great hub for the former.

William Presley · Answer

You, sir, sound like a very rich man in the making. When I was 14 I was spending every dollar I got on Eminem and Kid Rock CDs, and not thinking beyond the next weekend. I wish I had been as sophisticated and forward-thinking at that age as you seem to be. Btw, there's no age requirement to buy real estate. Stay focused and set your goals insanely high. I'll bet you can accomplish more than you'd think.

Account Closed · Answer

Another great thing to watch are some podcasts, you can watch the biggerpockets one, Robert kiyosakis podcast, and the epic real estate podcast. There are a lot of podcasts and other resources out there to learn from. don't forget to read some books along with forums as well!

Account Closed · Answer

Kevin Krato I recommend them that you should go to some meetups, network with some investors and ask them if they would be willing to show you the ropes of real estate, that's what I'm doing. And for the law portion, if the investors can't help you as much ask them if they can give you some references to some good attorneys to talk to, that should help with learning about real estate and getting ready to invest.

Christi Hawkins · Answer

What an amazing you man you are!! I wish I had the focus you have at that age. Keep up the good work, I have a feeling you be successful in whichever area you to choose. I bet your parents are so proud of you!!

Account Closed · Answer

Thanks William Presley !

Account Closed · Answer

Kevin Krato