General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 12 years ago on . Most recent reply
How to get started in rental property?
I am 24 years old, my monthly income is around $2,000 (after tax) , and currently have saved around $230.00. My question is where and how would I considering I really have no knowledge on real estate investing get started? My plan as of today is to work as much as I can in a year while saving as much also then get started investing. But I do not believe in beginners luck so I am hoping that with the knowledge I can learn here that I can have a clear understanding of what is going to take to get started. Any help or advice would be appreciated and I also accept criticism for as long as it is constructive. Thanks in advance to all that help me get started investing in real estate. (I think is important to note that I am interested in rental property/apartment buildings not family homes).
Most Popular Reply
They always say, if you're going to start a business, to work in the industry first. That way, you earn, learn and make someone else pay for some of your mistakes.
That being said, I would try and contact a bunch of small to mid size landlords and see if any of them would hire you to push papers and do light maintenance. I have always struggled to find and retain good reliable help in this area, regardless of how well I have paid them. You have the potential to add value, earn income, and learn a ton if you can find an arrangement like this. I'm sure you'll get some no's before you find someone smart enough to consider having someone do work for them, instead of grinding it all out on their own, but, like I said, if you can find the arrangement, it could be very worthwhile.
I'd also pick up some books and do a lot of reading. There's a lot of different philosphies and they don't all work in every market. There's an endless amount of good info on the boards here to soak up as well.