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Help getting started on first real estate investment? |
does anyone have any good advice for a young person who has no experience and not sure how to go about investing in real estate fixing up property the best way to go about that and to learn how to do it as cheap and effectively as possible and where i can find information on how to do that? No matter what business you decide to go into, make sure you have the proper experience. Invest in a low cost no load real estate fund like vanguard REIT. Imagine being able to jump in the real estate market for just $3000!! Also these funds invest in a range of RE companies ranging from houses, apartments to malls and office property. This spreads out the risk of a real estate slump rather than buying your own house and suffering a loss. Have you considered real estate investing mentorship? If you're looking for cheap, go to the library and borrow some real estate books and learn. See which way is right for you. First things first, learn how to get capital then decide whether you want to do rehabs, foreclosures, duplexes, condos, tax liens, etc. If you are starting out, I suggest taking a safer route of 12-18%/year return using tax liens. That will get your feet wet as your getting money from properties but you're not technically owning it (hence, no liabilities). See the book below for more info. |
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