How to get started!

Question

Hello everyone!

My name is Ammon, I am 21 years old and live in Utah. I love Real Estate and I want to own properties and apartments. More like a duplex and multi family units. I just don't know how to get started.. I have talked to lots of Mentors and Agents, but can't find the right material on how to take the first step. I have read good books like Rich dad Poor dad and others.. is there books that you have read that helped you on your way to become a great real estate investor? Also I am thinking about going to Stringham school here in Utah to get my License and learn more. It has good reviews and looks great. I just thought I'd ask for some help on how to get started and take the right steps.

Hope to hear from yall soon!

Brian Gibbons · Answer

I'd contact @William Hochstedler a great Rei and agent in UT

Aaron Smith · Answer

Hi @Ammon Gutierrez and welcome to BP!!

As a somewhat new investor myself, the best thing I've read, and read consistently, is pick an area to focus on, and stick with that. Either SFH (single family homes) or MFH (multi-family). There's even trailer parks, trailers, RV Parks, campgrounds, you name it. The key is to find that one area that piques your interest, and GO FOR IT! And once you've found your ideal "sweet spot", if you will, then locate literature pertaining to that area, and get to reading. I've read 9 books in the last three months pertaining to MFH and REI in general.

Secondly, if you haven't found the right mentor or coach, keep looking. Hit up REI clubs. They're good places to start.

Me, and this is personal opinion, I wouldn't worry about your RE license unless you're going to go into real estate as a career, at least not yet. It's one more thing you're going to have to focus on. Eventually, go for it. But for now, worry about focusing on finding your niche, and then getting your first property.

Hopefully that gives you some idea of where to start. Again, welcome to BP, and feel to reach out to us at any time! We're all here to learn and grow our pockets! All the best, Aaron

Stacey Mollinet · Answer

Hi @Ammon Gutierrez!  Bigger pockets is a great place to start.  There is so much good information here.  Once you decide your area of focus, and it sounds like multi family maybe an area you're interested in, then you may also want to look for podcasts that talk about finding and managing multi families.   There are lots of good podcasts out there. You can search for topics that interest you. I put them on double-speed and listen while I am cleaning and driving. You can get through a lot that way. The bigger pockets books on finding real estate deals and managing multi families are also very good.

It's true what people say, you just need to find your first deal. It's not easy to find one on the MLS right now. Still, keep your eyes open and have a real estate agent send you alerts when new properties are listed. Other sites such as a estately.com  also let you set alerts. Having an agent working for you is good because if you see a deal that may work, the agent can give you more information about previous rents, utility payments, and other numbers that are not available publicly.  Get yourself on some wholesaling email lists, too.  I'm on one called Salt Lake wholesale properties. They send out email alerts whenever there is a property available.  Other people on here could help you find other wholesale lists.  Some deals are better than others.  You will have to look at many properties before you can find a good deal right now that fits the specifications.   Make a goal to run the numbers on a certain number of properties each week.  Even if none of them work, it's still great education.

Doing the first deal though is the best education. You learn to overcome each obstacle as you encounter it. Read, listen, and learn as much as you can while you are looking so you will know what to do. If you don't know what to do, research it  or ask on a forum.   Someone else has encountered the same thing and their experience can help you. When you find a deal that fits your numbers, move on it right away.

Don't worry about getting your real estate license right now. Get your first deal and maybe your second. By then you'll know if you want to get your license or not.

Good luck with everything!

Becca Summers · Answer

@ammon welcome to the group!! There are a ton of great blog posts and content on this website to start reading.

Stringham is a good school if you decide to go that route. Then getting on with a good brokerage with training will help your career. You should read all of Gary Keller's books on real estate and investing.

Colton Goodrich · Answer

Welcome ammon!

Umar Javaid · Answer

Welcome to BiggerPockets @Ammon Gutierrez We've got plenty of resources here! You may start by exploring the "education" tab up there. See you around...

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