26, $1000, no real estate experience- where to start?

Question

Hi, I just turned 26 and I realized that I'm still broke and living in my car. Hoping that i the next couple years that I will own a couple condos in Colorado and California. If you have any suggestions for where to begin or who to talk to then please contact me!

Account Closed · Answer

Kudos for getting on here and beginning the journey to financial freedom. I'd suggest you begin by hustling your face off until you have your personal life in order and atleast 6 months of living expenses set aside.. then start putting money away to start investing. In the mean time, if you haven't read them already:Rich Dad, Poor DadThe Millionaire Next DoorSet For LifeWelcome and good luck!

Anthony Aviles · Answer

$1,000 is close to enough to get your real estate license in most places. If you get your license you will both educate yourself, gain experience in doing deals for others, and increase your income provided that you are hard working and open to learning.

Aside from getting licensed, network with successful investors and offer to assist them in any way possible.

Kory Denny · Answer

Invest in yourself. Listen to the podcasts and pick up the popular books that are mentioned a bunch in subject you want to learn about. If you read all the books mentioned they will take you as far as you want to go. The first step is mental not monetary  .

Alex Young · Answer

What do I need to do if I wanted to get a license in California, Colorado, Texas? Is it different for each state?

Alex Young · Answer

Okay, so where do I start as far as learning about trading/investing. Right now, I'm working part time making just a bit of money to get by. But what are some things that I could tangibly do right now with about $1000 to snowball?

Mateusz Prawdzik · Answer

@Alex Young First thing I would do is gauge your risk tolerance and your need for money. If you think that you can handle lots of risk, take the risk and try to run with it. But remember, you can lose your shirt because of risk. What i did when I was in a position like you are, (but it took a little bit of time), is learn to invest or trade in the market. I can't say it was good but I can't say it was bad, I lost a lot of money but I also made a lot of money. There is no such thing as get rich quick, if you want to play that game, go to casino and go all in and try to double every time (that's the only get rich quick scheme).

I wouldn't focus on real estate right now because you aren't a comfortable position where this should be a priority in your life. I would get a job, save, invest in the next correction in the market and take a year to pool some money. Learn , read, and then take action and pull the trigger.

Alex Young · Answer

Also interested in learning about Portugal/Spain markets

26, $1000, no real estate experience- where to start?

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