Aspiring investor from Minnesota!

[Isaac Kuehn]

Hello everyone,

I'm a senior in highschool who is eager to learn and excited about investing in real estate. I found BiggerPockets while researching "how to get your first rental property". Since then, i've read a lot on this website and thought I should introduce myself to this great community. I know very little about the real estate industry as of right now but everyday I read and research my targeted niche in real estate. I would like to connect with anyone in Minnesota.

I currently work at All State as a marketing assistant and I also cook at a local restaurant. I'm also starting to work with agents to produce real estate marketing videos/listing vidoes. 

My goal for my real estate career is to acquire rental properties either commercial or retail to generate monthly cash flow. 

Thank you  

[Kiersten Vance]

Hi Isaac.

Welcome to BP. It sounds like you are off to a good start with two jobs. Make sure you are saving up so you have a downpayment for your first purchase. I would look at getting a duplex/triplex/quadplex first and live in it owner occupied. You could even rent out a room in your own apartment too if it was a 2 bedroom or more to generate extra income. This will give you the advantage of lower interest rates and a lower downpayment. You will also gain experience being a landlord while living in your own home/apartment. I found it a little easier to manage living on the property than living away from the property and am glad I started with that. 

Have you started analyzing deals in your nearby neighborhoods? If you have time (don't compromise school for this), start looking at different multifamily units in your area and see if the rents from the units add up to at least 1% of the purchase price every month. Also figure out what 3.5% of the purchase price is as this would be the minimum downpayment you would need to buy it. Set that as your goal to save, and put a little bit away every paycheck. 

Best of Luck!