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Updated almost 7 years ago,
Starting full time, various questions
First some quick background information. Currently, I am finishing my 3rd year of chemical engineering. I have one year left but only 2 classes. I am very interested in making real estate investing my full time career. My girlfriend is also a chemical engineer and graduating this may. She has a very good job lined up in Belpre Ohio/Parkersburg wv. We are both moving there June 1st. Obviously not a very hot area for investing, but is about 1.5 hours from Columbus Ohio. We both plan on working on real estate investing together. I can put in 80+ hrs per week, probably only 20-30 for her.
So anyway let’s start with some questions. #1 should we buy or rent a house? We don’t plan to stay very long. Maybe 1-5 years. We both hate the idea of throwing money away renting, but also don’t want to lose money in a market where I assume that it is hard to sell. We plan on living as cheaply as possible. From this we should be able to save ~40k per year after taxes and expenses.
#2 where should I/we start. I have been listening to many podcasts, trying to get an overview. I have learned a decent amount but understand that I have a LONG way to go. Wholesaling seems like a decent option. I would like to find investors to work with. I can offer tons of energy and labor among other things. Ideally this would allow me to further understand the industry and become a partner on a few deals, also building my network. I am also willing to work to raise funds for an approved SEC investor.
So basically my question can be summed up into, what can I do RIGHT NOW. I could read all day but I really think experience is much more important. Action is key. What action can I take right now to start my career.
Thank you very much.