Newbie from Virginia trying to get started

[Samantha Gibson]

My name is Samantha Gibson and I’m from Virginia. I have been interested in RE Investing for awhile, I’ve just never felt I could do it. I’m more than ready to put in the work and learn! I’m not sure how to even get started. It will be myself and two others coming together to start this business venture. None of us have a RE background. Myself and one partner are hairstylist and the other is in college at the moment. Our annual salary is not an extreme amount and we’re just trying to get our foot in the door to be able to go farther. The podcasts and articles I have read are usually from individuals with more income. Wondering if anyone has started from almost nothing and how did you go about it? Thank you and look forward to networking with you all!

[Ika Sargeant]

I would suggest while you are putting things together with your partners start learning to analyze properties and learn the basics.

Pick a house/duplex you might be interested in and learn about what price you could offer and why, getting financing and costs associated with buying and lending. If you are buying to hold; learn the rentals in that market, learn about costs that are going to come with owning, determine if you will be making money or losing money, learn about the basic ratios used in real estate such as return on investment, cash on cash and why they are used. So go ahead and soak up all the information shared here but try applying it even if is just practice.