All Forum Posts by: Andrey Zohrabyan

@Andrey Zohrabyan

hi Andrey, I would get my real estate licence and join an investor oriented agency. This would give you access to a lot of properties ( on and off market), will also get to network with plenty of RE professionals and if determined enough, you could make a few sales and safe some money.

I agree with @Mac Elaina

The more people you know, the better. Never burn any bridges

@Andrey Zohrabyan net work your a** off. It goes alongggggg way.

Nice Work @Andrey Zohrabyan! 

Love the hustle! You're off to an awesome start. 

I'd recommend looking at your first 2-3 years in real estate as an apprenticeship. What worked well for me getting into real estate at 19 was working for another larger/well-established investor in acquisitions. Focus on learning the skills/habits that will make you successful before you go out on your own! It will shorten your learning curve. 

Learn how to source and qualify what makes a good deal, the rest will come with time. 

Andrey, this is very exciting a lot of people have been in your shoes before and some succeed and some die out. I think the difference is daily consistent action towards your goals. In my experience in today's world, the deal is the bottleneck for 95% of people. So if you can become a deal finder you do not need money right away. Drive for dollars, connect with others in the community, go to events of all kinds and tell people you want to invest in real estate. Go to real estate meetups, call every owner of a duplex/triplex/4plex in your area. You do not have to do all these in one day but do something everyday. 

I would probably advice against getting your real estate license right now but do agree with others to find something tangential to your love of real estate like property management, construction, etc. This will give you a competitive advantage in real estate as you make money and become bankable. Also seller financing, subject-to, wholesaling all have ethical implications once you have the fiduciary responsibility of being a real estate agent. Not impossible but something to think through. 

Start working in property management or a contractor firm. This will give you a nice salary to build up wealth to use towards your future purchases and will give you the experience needed to deal with issues that arise at your own properties.

Next most important thing is to network. Finding the right deals are more difficult than finding the money

Good luck!

I wish I was asking these great questions when was a young buck like you.

I say do a killer job at your current profession.  If your so good they can’t deny you, the capital will come.  Do this while networking.  Then buy the biggest house that you could afford and fill that bad boy up with roommates.

Good luck!  You got this!

as counter productive as it sounds, get a job. Traditional lenders love employment history, and you need resources to get off the ground.  If you are sales orientated, that can be a great stepping stone into marketing. Don't short change yourself though. A parallel career can easily work in unison.

 What I would suggest is making the connections in another state (if you plan to move states to start investing) and taking frequent but longer trips to visit properties (if that state is far). Only move if you closed that deal already so you can house-hack. That allows you to have more money in your pockets at the end of the day and start looking for that next deal.

Also, I understand you are 18. Try focusing on building up to get the type of loan that works best for you. For example, I am looking to go the conventional loan route on a single-family duplex home. I need to work my way up to get qualified so by the time I go to buy, that is not an issue.

@Andrey Zohrabyan 

Hi Andrey, 

The biggest thing I have noticed with first time investors and in my self is not taking action and being stuck in analysis paralysis for quite sometime. I got my first deal with zero down by becoming a 50/50 partner with a family member. Was it the best deal ever? Not really. But it got me started and now I know what I'm looking for one the next one and will have saved up enough to use my FHA.

Seller finance is always a good idea, first time investor or not. If you can find one go for it! FHA on a multi-family is definitely the best first move like what @Nick Travali mentioned previously. Networking is also key for when you have your license to find buyers and sellers.