Newbie to the real estate game

[Matt Lewin]

Hello, my name is Matt and I'm still new to the real estate game. I start learning about real estate about 2 years ago when I started a new job which led me to my mentor. I started with Rich Dad Poor Dad, Think and Grow Rich, The Richest Man in Babylon, Brandon Turner's The book on No (and Low) Money Down, etc. I listen to the BP podcasts in my car and watch them at home with my notebook with every chance I get. I'm submerging myself with the information of real estate. I'm in the Philadelphia area. I do work under the table doing construction. It's nice but I have no proof of income if I want to get a loan. I am paying back my student loans to build up my credit and i just got a gas card to build it up a little bit quicker. I am in the process of trying to get in the carpenter's union to have that proof of income and of course to learn more skills. At this moment I've been frugal with my money and saving up. Writing down everything I am spending so I can have an idea of what I spend a month plus bills. I do drive around the areas I work in to see any houses that look in distress. So my questions are: Should I do a live in flip so I wouldn't have to pay the capital gains tax? Should I househack so I can get my feet wet with being a landlord while learning the ropes of rental properties?  Should I get my real estate's license? 

I love the feedback and opinions of experienced investors.

Thank you. 

[Yuriy Skripnichenko]

@Matt Lewin

It's great that you are thinking about real estate. 

I think you should answer your question yourself. You need to understand what do you want to do and how you're going to achieve it. It seems that you are not bankable now. If you have enough money saved for househack go for it! That's a great place to start. Or if you are up to fix and flip you can do it as well. However I would not recommend to get agents license until you know what you're going to do with it. Have at least your first deal done with an agent who can lead you through the process and teach you. After you have better understanding of how things work you can get your license if you feel that you need it or would use it. I got my license after buying a few properties with agents help and still had a lot to learn after. 

Hope this helps.