All Forum Posts by: Michael Kosztur

Alright, Firstly I am new to BP and I am reading up on tons of useful information which is great! However, I have never invested before so I am at a lack of knowledge. A little background info, 19 Years old, living with my parents, working full-time and going to community college full time while also saving big portions of my paycheck for future goals and endeavors. I don't plan to invest anytime soon, perhaps in 2-3 years but in the mean-time I would like to figure out the best strategies and familiarize my self with real estate investing as much as I can. So when is "the right time" to invest? When did you begin? How much money should I have saved up beforehand before I purchase a property? How long should I hold onto a property before buying another? I intend on buying foreclosed/section 8 housing with minor work needing to be done and then renting it out to people and building my residential portfolio like that. I have so many questions but I have no one to talk to since I don't know any real estate investors personally. I just don't know where, when or how to get started! I hear that "wholesaling" properties is a good beginners tactic but I'm not sure what people mean when they say to get a property under contract. I would appreciate any help and this is only a slight percentage of the questions I have regarding REI so if anyone could recommend any beginner guides/books that would be great! I'm excited about investing in real estate and I'm not in any rush to take action for a few years but I would love to educate myself as much as possible so when I am able to take action I will know how to do so. Also, I have been thinking about becoming a real estate agent as well just to familiarize myself with inside personality of real estate and terminology however I'm not sure if that's a great idea. Fill me in on your ideas and opinions! Thanks for your time if you made it to the end of this post.

So in new to this whole shabang and people say that to be an investor you don't need a real estate license, however people also say that it has its perks. I do not wish to sell houses to people as a realtor but I would like to buy property and lease it to people in that fashion. Possibly going into business and leasing commercial property as well, so what are the pro of a real estate license and what are the cons? Also, how long would it take to obtain one and from where and at what price? I am fresh to this whole thing, hence my novice questions but I would appreciate any advice!

Thanks!!

@James Vermillion Thanks for the tip! I read on the forums about lots of people doing that and it seems like a good way to go. I also feel that a degree in real estate isn't something that I would feel comfortable with because I also agree that a business/economics degree is very versatile and I look to open a business if not many businesses of my own and my degree goal would better prepare me for that. I'm taking your advice critically so thanks!

@Account Closed Thanks! Yes, I understand what you mean because I had an idea of getting a home and paying it off as much as possible and then in a few years lease it out to someone and that would be the beginning of my portfolio. Thanks for the reply!!

Hello, I am new to the forums and I have an interest in real estate. To fill you in on some details, I am 18 years old, living with my parents and working a part time job as well. I am going to a junior college in the summer to work towards a degree in business/economic. Now what I real want is to be successful, and typically to do that it is going to take lots of work and the proper know-how. Back to the point, I would like to start investing at a young age and begin building a real estate portfolio. However, as you can imaging I don't exactly have deep pockets or mommy and daddy to look to financial help so I would like some tips on getting started.

If you read this then thanks for taking the time! I really hope to hear back from some of you!

(Also, I am aware there are numerous forum posts about the topic of "starting out", and I have been reading as much as I can. I just felt a little more comfortable making a post of my own.)