Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
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

User Stats

2
Posts
0
Votes
Daniel Gallegos
  • Cicero, IL
0
Votes |
2
Posts

How to get started in rental property?

Daniel Gallegos
  • Cicero, IL
Posted

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

User Stats

685
Posts
335
Votes
Ed O.
  • Investor
  • Statewide, MO
335
Votes |
685
Posts
Ed O.
  • Investor
  • Statewide, MO
Replied

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.

  • Ed O.
  • Loading replies...