New Future Investor in Making

[Brandon Young]

Hello kind people of the BiggerPockets Network! I'm Brandon.

I just joined today and am at the very beginning of my Real Estate career. In fact, it hasn't even begun yet. I'm not here because I expect to make thousands overnight. I'm here to learn about living the Real Estate life.

About me:

I'm in a serious relationship and together we bring in $3200 a month, we have $1600 in all debts each month, leaving us with $1600/mo to save. We are starting this savings plan next month (Jan'18) since I just got employed and we are now able to do so. 

I have so much passion in the "why" for becoming a Real Estate investor and I am here in need of some help. I am reading about Real Estate most of the day just about everyday (lot of downtime in call center work.)

I'm 25 years old, my household income is $3200 a month with $1600 in debts, I have a credit score that scares me, and I don't know what I'm doing. I am determined to figure it out either way; the hard way or the easy way. I will do whatever it takes to make this happen. 

So comes to the point of my post I suppose,

I'm looking for people who may be willing to provide general advice in the forums, who have experience- Maybe given my situation you would know what your first move would be and you can advise me. I am gathering lots of information, but still don't have the know how to: construct a deal (let alone find one!,) find buyers, whether or not I need financing or not, or more importantly- what my first property should be or what type of property and how to construct it I should say.

Thanks for the time in reading, even if you cannot reply.

I appreciate it all very much.

Enjoy your day!

-Brandon Young.

[Nathan Platter]

Hi Brandon,

You're right in that REI is not a "thousands overnight" business.

My advice to someone in shoes like yours would be to start out Wholesaling. That basically means find people that need to sell a house in rough shape. Search for "Wholesaling strategies" and things like "Yellow letters" and "bandit signs" should pop up.

As a rule of thumb, you'll have to find motivated sellers willing to sell the house for roughly 50% of the value (at the beginning, just use the Zestimate)

When you can find a deal such as that, put that deal here on Bigger Pockets as well as call the Bandit Signs you see around town (the "we buy houses" signs) and tell them you want to partner on a deal.

Continue living as inexpensively as possible, as long as possible, and always ALWAYS look to add value to someone else. If you can add more value to others, they'll keep you under their wing.

You'll do great!