All Forum Posts by: JD Randall

Little about me: I am still in High School but am working on graduating with my Associates. I want to be an acquisition manager (For private equity, real estate based) after college. I hope to invest in real estate on my own while holding this job. I don't feel that I ~need~ a degree for this career choice but would love to receive the education from college. Additionally, I would have something to fall back on. I am working on getting scholarships and will likely get my real estate license to carry me through college without getting into debt.

I have found that the two best majors for this career choice would be finance or business. These would both include basics in accounting and economics courses.

Which one would be more beneficial for a job as an acquisition manager? Is there something else I should look into? Is there anything else I need to prepare for?

Thanks for helping me out!

@Derrick E.

This is definitly something more people should consider to help keep vacancy and your turnover rate as low as possible! Amazing idea!

@Ken Swearengen

I am looking to buy a single home on a plot of land.

I forgot to mention that I will also be graduating with a General Associates Degree.

To start out I'm actually still in High School. I'm currently saving for my first investment property which I will hopefully acquire soon after school which I have a other post about.

Should I get a job under someone in real estate after school or should I look for another job?

I originally planned to become a Real Estate Agent to see what other people are doing with deals before I hop into the game.

One of the hosts in the BP RE podcast was a construction contractor so is that a good way to go? I currently have decent experience as an electrician and a little bit as a plumber so I know something of construction.

I know there is a lot of ways to get into RE but if you could do it again what would you do?

Thanks for the help!

Is a mobile home property a good first investment?

About me: I plan on investing in central Arizona (the pheonix suburbs) on a $50,000 budget for the mobile home (which I know is the low end in my market) I've listened to some of the BP REI podcasts on mobile homes where I've heard a lot of good tips and plan on listening to them again. I want to hear a few more opinions on the matter of investing in mobile homes in general and if it's a decent way to start for someone with a low budget like me.

I'm also hoping to get around $400 a month cashflow on the house. Is that reasonable or should I restructure my expectations?

I like the idea of just owning the land and having the tenant pay rent for the land which seems like it would cut a lot of fees out but I feel it would be harder to work out a deal where I wouldn't be buying both the mobile home and the land.

Thanks for reading my post and helping me out!

Thanks for the tips! I go to a school that doesn't have Fridays so I work then and occasional Saturdays when my schedule allows. I talked to my dad and it sounds like right now is not a good time to buy a property so I am going to put that on the shelf while I earn more money for it, continue researching and let the market change. 

My dad became a commercial real estate broker a year or so ago but he is still relatively new to the RE world. He is the one who introduced me to BP and the podcasts. I've already passed my ideas past him and what I posted is what we came up with together. He would be the person who would look after my rental since he has already owned residential rentals in the past and well... hes my dad. I'll definitely try to figure out a more detailed plan and system when I actually own the property but I don't want to get ahead of myself.

How do I get started with such limited time from schooling and next to no money? Is an LLC with my dad the answer?

What can I actively contribute if I make an LLC with my dad and start investing now? I don't have any experience and the only knowledge I have right now is what I've heard from podcasts, my dad or (starting soon) read in books.

Is owning rentals the way to go for me right now? I reasoned that flipping houses has too much risk along with a lot more time and money invested which I currently don't have. 

Thanks for the tips you have given me so far!

I already have a job and I am saving as much money as I can from it. I listen to both BiggerPocket Podcasts during one of my jobs (im an electrician doing plugs and switches) I am also trying to have a rental game business but it has yet to pick up.

I want to put 20% down on a residential house (possibly a duplex) as an investment as soon as I get out of High School. I will then be leaving for 2 years for a mission for my church. The house will hopefully pay for itself and my mission while its being rented out.

Is this a good plan or do I need to rethink a few things? Any tips?