New to Real Estate Investing

[Dylan Beckwith]

Hello all,

I'm Dylan from Minneapolis, MN. I am currently a student at the University of Minnesota and a marketing intern for the commercial real estate company Brisky Commercial. Through this position I have really fell in love with the real estate industry. I really enjoy the commercial aspect of real estate, but understand that is not a good place to start. That being said, I am looking to build capital at this point so I can invest in better properties. 

I have been listening to the Bigger Pockets Podcasts all day, every day at work and have really learned a lot. I think the two things I am still confused about (1) the best avenue for building capital and (2) how to find a good area for my selected avenue. 

(1) I have some limited savings and may be able to buy a house if its cheaper in cash. The issue I for see is costs to fix and flip it. I have been strongly looking at either flipping or wholesaling for my first deal. Again, I am really only looking to build capital at this time. I am unsure of what will be a better move with the cash I have. I am a student with little income, so getting a loan may not be an easy option. 

(2) I know there are many areas with better returns than Minneapolis, MN. Houses can be expensive here. I was wondering if it is better to do local or, since I am new, just start by learning an area with better returns and more land lord friendly laws (for when I start holding properties). 

If anyone has any insight that would be great! I am new and have a lot to learn still. I think the best way for me to get a hold is to do a deal, but I feel stuck on where to go from here and how to analyze my best options. 

Thanks in advance!