Want to do rental or house hacking! Limited cash to start!

[Simon Luo]

Hello everyone! I’m a Pastry Chef, have not much knowledge in real estate. But I want to start investing in real estate; I was only able to save about $40k, could save about 3k a month. I want to start investing some how, just don’t know where to start. I live in Brooklyn NY my whole life; from east New York to bay ridge to manhattan now. Any one can give me a pointer or two I would much appreciate it!

[Kevin Paulk]

@Simon Luo  Three things you want to do before you Invest your money

First thing you want to do is educate yourself on the real estate investing. Find as many books as you can and just read. Study it enough to where you can explain it to somebody else. There are so many strategies within real estate.

Second thing is figure out why you wanna invest. A lot of people are doing it because its cool and thats not a good enough reason and it won't keep you in the game long enough.So figure out that "Why"

Third thing is set a goal, something measurable and attainable, and make yourself accountable to somebody. Just one goal until you complete or master it and then tackle the next goal. Your goals will evolve over time but start with one. Here are a few examples.

-learn to analysis a deal 

- Learn real estate vocabulary 

- build i relationship with a real estate investor 

- Attend 1 REI meetup a month

 -learn one market inside out.

The worst feeling in the world is saving up your hard earned money only to lose it in a investment you know nothing about.