Young New Investor

[Michael Dallas]

Hey BP! I am a senior baseball player at the University of Memphis. I currently have one rental property in Alabama. I am extremely interested in learning everything that I can about real estate. I plan on getting my license after graduating and either staying in Memphis or possibly moving to Nashville. I'd love to make as many connections as I can, so I can hit the ground running when I get out of college. I know there is so much I will need to learn, but I am looking forward to the journey!

[Jordan Ray]

Quote from @Michael Dallas:

Hey BP! I am a senior baseball player at the University of Memphis. I currently have one rental property in Alabama. I am extremely interested in learning everything that I can about real estate. I plan on getting my license after graduating and either staying in Memphis or possibly moving to Nashville. I'd love to make as many connections as I can, so I can hit the ground running when I get out of college. I know there is so much I will need to learn, but I am looking forward to the journey!

I believe success can be found in any market, happy to jump on a call with you to chat about joining eXp Realty which is the most revolutionary brokerage in the world (Literally!) Your success in real estate will be determined by you ultimately. Mindset is key and just know that this is a business and you would be actively seeking clients and every day you wake up your working for the paycheck you receive in 30-60 days.

[Melissa Johnsen]

Hey @Michael Dallas,

That's wonderful that you already own an REI property right out of college! I am very impressed!

Real estate investing can be a great idea for several reasons:

1. Potential for Appreciation: Over time, properties often increase in value, allowing investors to build wealth through appreciation.
2. Passive Income: Rental properties can provide a steady stream of passive income, helping to cover expenses and generate cash flow.
3. Tax Benefits: Real estate investors may benefit from various tax deductions, such as mortgage interest, property taxes, and depreciation.
4. Inflation Hedge: Real estate tends to keep pace with or outpace inflation, making it a good hedge against rising costs.
5. Leverage Opportunities: Investors can use financing to purchase properties, allowing them to control larger assets with less capital upfront.
6. Portfolio Diversification: Real estate adds diversification to an investment portfolio, potentially reducing overall risk.
7. Tangible Asset: Unlike stocks or bonds, real estate is a physical asset that you can see and manage, providing a sense of security.
8. Control Over Investment: Investors can influence property value and income through renovations, management decisions, and property improvements.
9. Building Equity: As you pay down a mortgage, you build equity in the property, which can be accessed later through refinancing or selling.
10. Community Impact: Investing in real estate can contribute to community development and improvement, positively impacting neighborhoods.

These factors make real estate investing an appealing option for many people looking to grow their wealth and secure their financial future.

It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you. It can be a lot of time and work if doing it on your own. It's helpful to work with a reputable team. That is what our team at Rent to Retirement has been helping investors to do for a decade now with BP. I'm happy to answer any questions you have about analyzing markets or getting started. Most importantly, choose a market that aligns with your goals!

Wishing you the best of success!

Melissa Johnsen

Rent to Retirement Investment Strategist

[Luka Milicevic]

Quote from @Michael Dallas:

Hey BP! I am a senior baseball player at the University of Memphis. I currently have one rental property in Alabama. I am extremely interested in learning everything that I can about real estate. I plan on getting my license after graduating and either staying in Memphis or possibly moving to Nashville. I'd love to make as many connections as I can, so I can hit the ground running when I get out of college. I know there is so much I will need to learn, but I am looking forward to the journey!

 Welcome to the forums. I'm in the Nashville TN market and would be happy to answer any questions you have there. 

[Austin Cheatham]

Welcome to the journey! Remember, investing is a marathon, not a sprint. 

My only advice is be sure to sync up a real estate tax professional before you get too far in. This person can really help you build a foundation for your investment journey. Having someone who understands the ins and outs of real estate tax law can make or break your investments. Imagine costing yourself a $10,000 tax bill because you weren't working with the right professional. Being able to strategize and plan out each piece along the way can really help you save money and build up those investments faster.

Have fun along the way and best wishes to you!

[Preston Dean]

Hi @Michael Dallas

Enjoy the memories you are making as you enter your senior season!!

I would suggest using this website to get a general idea of the locations you are interested in. https://www.areavibes.com/

Its pretty cool because they give you a total livability score and you can just see the different data that they give you

[Bernice Retzloff]

Hi Michael! 

I would love to connect with you and answer all your questions about our market in Memphis TN!

[Julio Gonzalez]

Hi Michael, welcome to the community! There is a great group of members on here to connect with.

-Julio

[Michael Dallas]

Quote from @Preston Dean:

Hi @Michael Dallas

Enjoy the memories you are making as you enter your senior season!!

I would suggest using this website to get a general idea of the locations you are interested in. https://www.areavibes.com/

Its pretty cool because they give you a total livability score and you can just see the different data that they give you

Awesome!! That tool looks to be very useful; I will take it into consideration when choosing a market!

[Taz Zettergren]

@Michael Dallas congrats on being way ahead of the game! I had no clue what I wanted to do until well after I hung up my cleats, talk about being caught up in the moment. Memphis and Nashville are great markets, Memphis will come with a few more investors whereas Nashville will likely have more owner occupants with a higher price point. I'd be happy to talk shop with you, feel free to reach out and best of luck this season! 

[Andrew Syrios]

Welcome to BiggerPockets Michael and best of luck investing!

[Matthew Kwan]

HI Michael,

The best way is to attend local meetups and connect with people within the community. You can always start off in real estate by acquiring a property as a primary residence. You can put as low as 3.5%-5% down payment and rent out the vacant units to offset your mortgage. @Carlos Valencia @Albert Bui

[Michael Dallas]

Quote from @Taz Zettergren:

@Michael Dallas congrats on being way ahead of the game! I had no clue what I wanted to do until well after I hung up my cleats, talk about being caught up in the moment. Memphis and Nashville are great markets, Memphis will come with a few more investors whereas Nashville will likely have more owner occupants with a higher price point. I'd be happy to talk shop with you, feel free to reach out and best of luck this season! 

Thank you so much! Definitely would love to connect!