New Investor need advice on starting my business

[Parker Doyle]

Hello BP,

My name is Parker and I’m a 21 year old investor and in the next few months I will be starting a real estate investment company. I have 60k that I plan on using to jump start the business. I’m currently in contracting school and ultimately, my goal is to sell new builds. My question, however, is if buying single family homes to “get my feet wet” and to add to my portfolio would be a good idea as opposed to buying a multiplex or waiting until I’m ready to start building. I planned on doing lease options so that I can get the passive income and eventually be able to hopefully sell the homes to tenants around the time that the home building starts to take off. Any advice on the best way to model my company or any advice in getting started?

[Ben Sears]

@Parker Doyle start with the single family rehabs and leverage your contracting education to get your feet wet. Make some connections with contractors, lenders, realtors, etc. then go for the multi-plex. You might have an easier time convincing a private lender or loan officer to give you some money with some experience in the SFR market.