Looking for a change in Minnesota

[Ryan Pederson]

Hello! My name is Ryan, and I'm a 28 year old IT consultant from the Twin Cities. I've been working in IT consulting since I graduated college nearly 5 years ago and I think I'm ready for a change. I travel 150+ days a year and work up to 60 hours a week depending on how crazy the project gets.

Frankly, I'm tired of climbing the corporate ladder, and I've been very interested in real estate investing for quite some time now. I find myself spending time on craigslist looking at properties, driving around local neighborhoods and grabbing flyers for houses that are for sale, or just spending time with my friends always talking about investing in real estate, because we believe it's likely the best way to build wealth and the current opportunities may be once in a lifetime. The problem is that so far all I've been is an observer from a distance. My biggest fear is that I don't do anything and then look back 20 years and say, "man, if only I had gone with my gut and taken the risk to start investing in real estate". Let's face it, I am about as green as it gets when it comes to real estate investing. I've read a couple of the Rich Dad/Poor Dad books, but my knowledge is limited, but that's why I am here. I am eager to learn! My initial thought is that I'd like to start investing in rental properties, but I'd also like to hear what other alternatives are out there. To be honest, it's also a little overwhelming to figure out where to start. Form an LLC or not? Find a group of friends to invest with or go it alone? What are the common pitfalls someone with my age and experience falls into?

I'm hoping to learn as much as I can from each of you here and I'm looking forward to see what's in store for my future.