New member from California

[Tyler Gebert]

Hows it going, my name is Tyler. Im new to real estate and new to investing. I joined to get some insight on what it takes to become a real estate master. Im 20 and very motivated to make money, I fully understand that im not going to wake up in 2 days and be a millionare. Its going to take time and im fine with that. Im looking for help to be honest. I think in my head of all of these great ideas for a buisness or how to invest but I always seem to find a way to make it sound like a bad idea and dont go through with it. To be honest my biggest goal is to invest in real estate, Im very low on money that I could actually invest and I cant get a home loan since I havent been at my new job long. Im just lost and not sure where to start in the investment world. I already have a 401k and am starting to invest in stocks. Just looking to get some insight on where to begin in the real estate world. Thank you.

[Dan H.]

You indicate you have a 401K but did not indicate the value of the 401K.  Many 401K have a self investing option that you could potentially use to invest in properties but if you go this route discuss it with a accountant/financial advisor/tax adviser first.

without money you can look to partner if you find a really good deal.   Good deals are not easy to find so if you find one you deserve to be compensated as does the entity taking all the risk by providing the money.  With 0 track record and 0 capital you will be at a disadvantage when it comes to negotiating the partnership as not only would the partner be taking on the risk by investing the money but with 0 track record the risk is greater than if you had done this before (or better a dozen or two times before).

You could also find a deal and wholesale it.  Your reward for effort would be high but the reward would not be as high as sticking it through to end game.

As for you finding reasons to not get started I believe many of us have that issue.  For me it is the belief I do not have the time to take on anything additional and I have let some good opportunities go by even though I knew they were good opportunities.  Whatever the reason for not getting started you have to get by it at least once to get started (by definition).  BTW few RE are 0 risk.  Anything can happen.  It is easy to find reasons not to start (too busy, too risky, no money, no experience, etc.).  You have to jump in at some point even when there will be reasons not to.

Good luck.