Advice Needed

[Matthew Conroy]

Hello,

I am currently a rising senior in college and live in Boston. I have had two internships, with my last one being  at liberty mutual. I have found that although the corporate world is safe, and I could most likely get a good job coming out of college, I am far more interested in real estate. I have read several books on different parts of real estate that really have got me motivated. I have about $50,000 saved up from entrepreneurial ventures. How do I best get started in investing in real estate. I am all up for taking classes, joining groups, etc. I guess I am just wondering if it is at all possible for someone in their early 20s to get a real good start in real estate investing and what is the best way to go about it.

Thanks

Matt

[Joe Villeneuve]

Matthew,

Aa far as starting in your 20's is concerned, my daughter just turned 15...and she'll be retired by the time she graduates college...through real estate investing.

With $50k in cash you don't realize it now, but you just bought yourself retirement...and no I don't want your money.  I can tell you that you do need to commit yourself to never stop learning though.  Every day there is a new way, or a better way, to do this.

As far as using your $50k, once you learn how to analyze properties correctly, and fill out your team (contractors for rehab, insurance for flipping and holding, lenders for refinancing, partners with good credit to refinance with, etc...) you are on your way.

Here is the way I did it (still doing it).  You first need a market that will allow you to have high cash flow.  Here where I am we can buy/rehab a house all cash for under $50k and cash flow it (with a refinance loan, taxes, insurance, and a property manager) at least at $400/month...or we move onto the next deal.  We can do this all day...and pay the Asking Price.

Once you rehab the house, put the tenant in it and refinance (I have sources that have no seasoning period, so I can do this within 30 days or so).  This way, the Cash I put into the house, I get right back out (sometimes more), and I use it again on the next one.  Then, just keep repeating these steps until you get old, or just tired of making money.

Joe Villeneuve
RecapSystem