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Updated over 6 years ago on . Most recent reply
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How to start investing in my 20's
Hello! I graduated in 2016 with a degree in Healthcare. I'm a 25 year old living in Oklahoma who spoke with a friend about real estate investing and I wanted to learn everything I could. I know in some of the forums I read and videos/podcasts I've listened to state that it doesn't take a lot of your own money to begin this journey. My question is, could 5-6 grand start me off in right direction? I know it's not a lot, but I just would like some tips or places to look into over other things to help push me. I've been looking into the single homes/duplex side of things. Should I seek a different avenue or pursue that? Thanks for the help!!
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Honestly, you can spend a lot of time trying to find the right deal to make work with a little bit of money or you can spend that time on finding a way to have access to cash and go from there. I would work on solving the underlying problems in this equation, because compounding $5k doesn't get you very far.
Find a real estate investor or broker and offer to work for them in your off time. If they don't want to hire you, offer to work for free and bust your *** for a month then revisit the compensation. Find out if they will give you a small equity piece in deals you bring to them or pay you some amount of cash. This is something you should be able to do after your regular job.
I started 3 years ago with $10k and through hard work and a lot of good mentors am now flipping commercial buildings as my main source of income and own a commercial real estate brokerage. You can do it, just make sure you tackle the right problem.