New from Poughkeepsie, NY and in need of some advice!

[Dj Samson]

Hello!

My name is Darren and I am from NY. I am 22 years old just graduated college and my goal is to become a full-time real estate investor. My plan is to flip single family homes and eventually purchase large apartment complexes in order to create monthly cash flow.

After college I naively moved to Silicon Valley for a job at a tech startup. I always was intrigued by real estate investments but was intimidated because I never had alot of money needed to invest. I chose online companies as my path and now I am changing ships.

I have spent most of my $6k savings moving to and from Silicon Valley. I am pretty broke, so my plan is to get a job once I move home and save up $600 needed for my real estate license exam. I'm going to become an agent, get a job at a firm and then build some capital. I know being an agent is more difficult than people expect, but even if I have moderate success it will create a huge start for my portfolio (I will be living at home = 100% profit!).

Do you think my plan is viable? And do you recommend any books for beginning investors? I have read alot from Robert Kiyosaki and like I said earlier, I want to do this full-time so I intend on practicing both flipping and buy and hold in order to create equity and cash flow.

PS : If anyone is from Poughkeepsie, NY and would like an extra hand doing anything I would love to connect.

Thank You!!

[Elizabeth S.]

Welcome to the group! It sounds like you're getting your life back in shape and taking good steps to get there. Since you're asking for advice, here's mine:

• Get a real job and either don't get your real estate license or get it on the side. You can make money but it will be VERY difficult and take years to build up a good business. If you get a job making $30,000 a year (hopefully more!) and live at home you'll be able to save create a cushion in just a few years that real estate (which costs money) will not get you to in the same time frame.
• Network with local real estate investors who are doing what you want to do. Go to the local REIA and take offer to take people out to lunch one at a time. You'll learn SO much and make great contacts. Find ways to help these people for free and they will always have you on the mind when they have a great opportunity that you can help them with.
• Use the limited time with your parents to save as much money as you can and to learn skills for life. Living with parents is always temporary because they will either get sick of you or you will get sick of them or what to get married or something. Lots of people live with their parents and then spend there money because they have it, life frugally and use this time in your life to work 2 jobs and hustle.

This is a really exciting time in your life. The choices you make in the next 1-2 years are going to play a HUGE impact on the rest of you life.

May the force be with you :) haha