OfflineHey guys.
I'm 20 years old, wasn't laid off but my hours are maybe 20 hours a month. I really am sick and tired of living at home with my parents and would love to marry my amazing girlfriend and give her and I the best life possible. I have 1k saved up and was thinking about starting in Real Estate.
I would love your advice on what are some of the basic essentials you need to have to make investing in Real Estate successful? Do you have to drive around all day to find houses? Do you even have to be able to drive or can you do all your transactions over the phone? Do you have to hire a lawyer and accountant and set up a business bank account and get an EIN? Any and all advice would be greatly appreciated! Thanks!
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Kudos to you on wanting to create a new life for yourself. Getting into real estate, like any field, is going to take time, effort and... money.
If you want to get started, I highly recommend getting your real estate license and begin by working with a real estate company. This will give you the education and the experience. It will also help you earn some more cash so you can begin to invest.
Before you rush into buying real estate, you need to get yourself in a financial position where it is not too risky. If you take on too much financial risk, you run the risk of losing everything - including your reputation and having to start all over.
Start by reading all of Dean's books in chronolgy of publication because they build off of each other. Don't have a lot of money? Have your library order them all for you!
Read each book cover-to-cover and them come back here to the forums and all the lights will start going on for you!
And yes, you'll want to take title of your properties in the name of a LLC and no one does it better than legal . . .
Seriously, read Dean's books! Invest in yourself so you can invest in real estate! Good luck!
for looking at such a young age and for starting a savings account. You don't have to have a license to invest and you are also obligated under different rules if you do have a license.
I would recommend the 30 days to fast cash book and start learning all you can. Putting up a profile and visiting this site daily. Also start reading all the post and anything related to REI and you will soon be on your way. You just have to do the work. Build upon your knowledge each day, and start to put things into practice that you read about.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
I've been looking at deans' website and buying his products since I was 19. I'm 21 now and It's hard getting people to take you seriously. Read deans books, listen to his videos, and get adive from the successful students and members of DG. Heck I wouldn't mind being your parenter!