Hello fellow BiggerPockets members I hope all is well! Over the last month I have had a love for real estate surge through me and motivate me to learn as much as I can about real estate investing. I have read over a dozen books and listened to hours and hours of podcasts referring to real estate/investing. I am a 20 year old Rowan University student who wishes to gain a head start in my financial livelihood through investing in real estate early on. I am now going to state my Plan for Success (which for me is financial independence):
1) Identify and fully understand my short-term and long-term goals for real estate investing.
2) TAKE ACTION ASAP!
3) Find a local mentor who I can serve with my free time and motivation, so that I can receive knowledge and experience
4) Obtain resources for financing my 1st investment, which I plan on being a Flip (right now I have $4,000 saved up to invest with)
5) Search for deals & analyze the targeted market
6) Flip 1st property
7) Improve and repeat Flipping process
8) Save up enough for a solid cash reserve to begin my next venture in investing
9) Begin the process to buy, improve, and rent out some form of residential homes
10) After my first two successful rentals, hire a property manager
11) Advance to renting out residential complexes
12) Hire a property managing company after first successful rental complex
13) Reap the rewards of the established Passive income
I am planning on accomplishing this by the year 2037. The only obstacle I can see hindering my plan could be that I am a current student at Rowan University, which is two hours away from my home market. If it does become a major issue, I was planning on changing my market to my college town market. If ANYONE has any advice, or sees any flaws in my plan, please don't hesitate to help out and guide me in a better direction. Thank you for your time!
