Understanding Real Estate and Building Knowledge

[Mason Adelman]

Hello Everyone!

My name is Mason Adelman and I am from Chicago, IL. I live in the city of Chicago in the River North district.

At the moment I am a Freshman in college attending Indiana University under the Kelley School of Business. I am a huge fan of passive income and was actually referred to the Bigger Pockets Podcast from a Tiktok. After listening to a few episodes, I was hooked. I am familiar with the idea of passive income when it comes to investing in stocks as well as financial independence and having a good credit score, but real estate is something I am not as familiar with but would love to jump in as I love the idea of being financially free when I am older.

My goal in real estate is to learn as much as I can about how to rent out a property or even house hacking strategies that I can use in the next few years. I have already started reading a few real estate investing books and would just like to continue the process of learning. A mentor would be great so I can refer to someone else during this journey. I plan to own at least five properties in the next 5 years. A lofty goal for someone not knowing everything about real estate but I believe in the power of knowledge. 

I am also thinking about getting my real estate license over the summer. I hope this is a good synopsis of my goals, I appreciate it.

[David Richter]

Hi @Mason Adelman
Congratulations on your first steps! 

I would recommend you getting the Profit First - Learn how to keep the money you will make in real estate investing now. 

Reading this book will literally add zeros to your bank account if you start out with this system.

I'd also recommend Gary Keller's The Millionaire Real Estate Investor because of the practical tips offered in the book. 

Then get to work!

The best experience will be doing a deal and actually getting your feet wet. 

You want to be educated but make sure to dive in as soon as you can. 

Make offers, talk to people, tell everyone you know you're looking to take a problem property off of their hands. 

Good luck to you on your journey!