All Forum Posts by: Ronan Donnelly

Hi @CL Ziegler, I would flip the question round and ask if it is practical to not invest in rental property at age 50+. You likely have more cash, more time and potentially IRA funds that can all be deployed in order to give you increasing amounts passive cashflow and equity buildup, in addition to some significant tax advantages. Good luck!

Hi @A. Maldonado, If you want to invest in addition to having a full time job then it's really just a case of mapping out the best strategy for you in light of your constraints. If you spend enough time up front figuring out specifically what you want to achieve by investing in real estate that can help guide you to the best decision. Good luck!

@Dylan Wells, congratulations on showing such initiative, I wish that I had started as early as college. Others on this post have recommended house hacking and I agree that this is probably one of the best strategies. Here are a few other ideas:

1) Partner with a local investor that needs your skills. Your accounting and finance courses make it likely that you could help with deal analysis for example

2) Start a local REI meetup. This will give you connections, access to deals and education

3) Wholesaling - go out and look for a deal. If you are unable to close on it yourself you could always wholesale it or find a money partner

4) Focus on education, especially if you can relate it to your university course. Focus on a specific niche and go deep on that. There are so many ways to succeed in real estate but better to focus on one

5) Look for an internship with a real estate CPA, this will give you experience in addition to possible connections to investors

Good luck!

@Eric Popp, welcome to BP!

@Joshua Thibeaux, I agree with the sentiment of others on this thread that these courses can be long on marketing and short on value. I think you can access all of the information you need from this site as well as a number of excellent podcasts. Once you have educated yourself you should get out there and do a deal. This will give you more learning than any seminar or course. Good luck!

If you do decide to go the passive route you could invest in about 4 different deals, with different sponsors, in different geographies and different asset classes. Diversifying this way would allow you to significantly reduce your risk whilst allowing full time professionals to make your money work hard for you.

Buying an asset on your own is essentially creating a new job for yourself.

I was wondering how long rates could stay so low. Still wondering.....

@Jamie Turbyne, what we saw during the last recession was that prices compressed, rather than dropped uniformly. What this meant was that lower cost rentals were less impacted than higher prices rentals. You are on the right track to look into mobile home parks (prices were not really impacted and there are real restrictions on any new supply, self storage is more of a discretionary item so may be more impacted in a downturn, retirement / assisted living certainly has growing demand but you should also check on supply. Class B/C multi family also did very well during the last recession as people downgraded from class A apartments and also needed somewhere to live when they lost their SFH's.

Also bear in mind that recessions don’t impact all areas equally so you might want to consider economic factors into your decision process like population growth, wage growth etc. Good luck!

@Jonathan Greene, I’m all about the opportunity, you should be celebrating the Bro investor, he could be the perfect exit strategy for you, or the perfect buyer if you are very skilled at sourcing the right deals. Take a positive view of everything, it will help you to see the opportunity! Good luck!

Hi @Austin Jacobus, getting good at anything in life requires deliberate practice and repetition so congratulations on planning to get started investing at such an early age, you won’t regret it. You are doing exactly the right thing to focus on education as a first step. I see a couple of elements that might be in your favor right now:

1) Time - you potentially have more time available to dedicate to real estate investing than some other investors. This has real value because there are ways that you could monetize this e.g. by searching for deals that others ultimately buy or by writing content

2) Alignment with education - if you practice underwriting deals for example you will be employing math, analytic skills, use of Microsoft excel etc. If you start out by writing content you will be developing your written language skills, by researching markets you will be developing a better understanding of our country, you engaging on forums you will be developing your engagement and collaboration skills etc.

Think big and don’t let anyone tell you that your age has to be a barrier. Good luck!