New to Real Estate, best way for me to get started?

Question

Hello Everyone, apologies for the longer post but I am interested in what someone would advise in my situation to be able to become a full time real estate investor as soon as I can. Some background I am 21 years old and in my Jr. year of college. I am a division one soccer player and have been blessed to be done with my last years with no debt. I am married young and am interested in starting my real estate journey as soon as I can. I am getting my degree in Organizational Communications. I am currently in Illinois however I can see myself moving to Colorado within the next few years. Thank you in advance to everyone who can provide some valuable advice and I am super stoked to getting started in my Real Estate journey!

Greg Kasmer · Answer

@Jaime Ponce - There are hundreds (maybe more) of ways to invest in real estate. My suggestion would be to start talking to 5-10 people in each segment of real estate and ask them a similar set of questions. (i.e. What do you like about your niche of real estate? What don't you like? What are opportunities that you see? If you had to start again, what would you do?) I think if you ask those same questions to 5-10 house flippers, single family investors, STR investors, multifamily investors, wholesalers, etc... you'll get a good flavor for the good, the bad, and the ugly in each segment of real estate. You'll then get an idea of what sparks your interest. I would like your interest drive your focus. Good Luck!

Jack Schwartz · Answer

Hi Jaime, if you’re new to real estate, here are some easy steps to get your feet wet and started:

Read a Real Estate Book: Grab a good book to learn the key terms and language. Knowing the jargon is essential.

Listen to Podcasts: Spend a few minutes each day on real estate podcasts. They offer great insights into the market and trends.

Read Blog Posts: Check out real estate blogs for valuable tips and insights.

These steps will help you build a solid foundation in real estate.

Ben Rhodin · Answer

Hey @Jaime Ponce! Welcome to the community, you are already light-years ahead of most people with getting into real estate at your age. As most people have mentioned there are numerous ways to invest, and get into the the real estate world. However, not all are well suited for the beginner route, especially if you don't have the lending ability or funds to get into them.

My personal recommendation after helping numerous investors in your situation is to begin right now by just surrounding yourself with other investors and learning as much as you can.

Then I would focus on either the active side of investing with finding deals and providing value to other investors, with the possibility of partnering with them on a deal. Or plan to get into a House Hack when you graduate and half a good-paying job. This will be the lowest barrier of entry into investing, as well as help minimize your living expenses.

We are located in the Denver Metro as well, so if you do want to chat and explore options or just start planning feel free to reach out!

George Skidis · Answer

Join your local Real Estate Investors Association (REIA). The easiest way to do that is the "Find a REIA" tab on the National REIA website. They are a .org organization.

Nick Belsky · Answer

@Jaime Ponce

Welcome to the community and be ready for a huge amount of information at your finger tips. Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights. Great tools that get updated regularly.

I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

We are all here to help you learn and grow. Feel free to ask anything, anytime.

Cheers!

Amy Falson · Answer

@Jaime Ponce Hi Jaime,

I’m new to REI as well. I’m in the same boat as you, trying to get my feet wet and build connections. Not sure where you’re located but I’m in South Elgin, IL and would be down to connect! I like that you’re driven and really want to surround myself with likeminded individuals.

Koren Lavi · Answer

@Jaime Ponce welcome to the BP community. This is a great place to start!

I’m based in the Denver metro area, and would be happy to chat and answer any questions you have. There is definitely A LOT of info out there, it is easy to get information overload. A great first step is to just talk to people that are doing what you are wanting to do (real estate investing).

New to Real Estate, best way for me to get started?

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