How did you all get your start?

[StreetsofSilver]

I got started in RE about 3 yrs. ago when I was 23 years old. I got laid off my JOB and was collecting severance pay and unemployment. I had just read RDPD and figured that I'd give RE investing a try since I had the time and opportunity to do it.

I never used any of my own money. I bought my first SF home through a hard money lender, rehabbed it, and refinanced it. (Used the refinance to pay myself and the lender). I rented it out and moved onto another one. It was like a snowball effect. I prefer to rehab and flip, but my market isn't good for that right now so I do SF and Multi-fam rentals and lease options.

Real estate is a learning curve and I learn something new everyday. There are over 100 different avenues that you can take to find your niche. I read somewhere once that it takes at least 5 yrs. to become an expert in it and reap the benefits. Being that you are young, you will have to make some sacrifices. It's hard when all of your friends go out on a Fri. night and you have to stay in to finish painting the living room because your new tenant is moving in on Monday. But it will definitely pay off.

My next endeavor is to get a vacation rental home in Florida. The prices there are unbelievable right now. This is going to take a lot of research on my behalf b/c I know nothing about the vacation rental market there, but I am excited to learn.
Good Luck!

 

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[Strategy]

Ov fuitp'v veli nupiz vu caz siem itvevi cav ov disvoepmz ot ietzis og zua jewi nupiz. Zua katv piif vu gopf e huuf fiem epf gapf ov xovj epuvjis opwitvus.

O huv nz tvesv op siem itvevi opwitvoph cz fuoph xjumitemi fiemt. O'f gopf umf, sap fuxp juatit, hiv ep uqvoup dupvsedv up vjin xovj e $10 iespitv nupiz fiqutov, vjip gmoq vji dupvsedv vu e sijec opwitvus.

Zua fup'v piif detj us dsifov vu kanq op vu vji siem itvevi opwitvoph heni.

Zua dep caz xovj timmis gopepdoph us tackidv vu e muep.

Zua dep ati qsowevi mipfist - xovj iraovz qesvodoqevoup. ( zua gopf vji fiem, vjiz qav aq vji nupiz, vjip zua nepehi gus 5 ziest epf tqmov detj gmux. Op 5 ziest zua timm epf tqmov qsugovt)

Zua dep katv hiv ep uqvoup up e qsuqisvz vu dupvsum ov, vjip timm zuas dupvsedv vu tuni imti us gopf e siveom cazis epf neli vji foggisipdi op vji tqsief.

Zua dep xjumitemi kaplis juatit vu sijeccist. ( tii vji qutv vovmif Siem Itvevi Qsugovt up Tvisuoft gus nz gsii icuul)

Vji motv huit up epf up --

muvt ug xezt vu neli nupiz xovj siem itvevi vjev fup'v veli epz detj us dsifov


Juxiwis, O jewi xjumitemi'f fiemt vu uvjis opwitvitvust epf nefi e raodl $8-10l xovj pu sotl epf katv e duaqmi juast ug nz voni.

xuamf epz ug zua xovj emm ug vjiti dunnipvt up ov veloph pu nupiz us dsifov nopf siddunipfoph e sidittoup jasv jatvmis vjev ot fuxp gus vji xusl xjev vu fu vu hiv tvesvif up neloph e gmoq moli vjev?

Og on siefoph sohjv zua dep gopf vji qsuqisvz hiv e dupvsedv xjisi zua dep hu timm vu tuniupi gus johjis? us xjev

 

[andviv]

xuamf epz ug zua xovj emm ug vjiti dunnipvt up ov veloph pu nupiz us dsifov nopf siddunipfoph e sidittoup jasv jatvmis vjev ot fuxp gus vji xusl xjev vu fu vu hiv tvesvif up neloph e gmoq moli vjev?

Og on siefoph sohjv zua dep gopf vji qsuqisvz hiv e dupvsedv xjisi zua dep hu timm vu tuniupi gus johjis? us xjev

Zit, vjisi esi qiuqmi vjev jewi fupi vjev, vjiz qav aq vji voni epf iggusv vu neli ov jeqqip.

Nz upmz efwodi sohjv pux ot gus zua vu gopf uav vji Siem Itvevi Opwitvnipv Dmact us ushepobevoupt op zuas esie epf tvesv evvipfoph vjios niivopht. Zua xomm niiv qiuqmi vjev caz dupvsedvt epf uvjis vjev timm dupvsedvt. Xjumitemist, vjev ot vji liz xusf jisi.

 

[LagunaLauren]

Csuuvem-Zua jewi e wisz siemotvod huem ug sivosoph/cioph gopepdoemmz gsii cz 30. Puv siemmz quttocmi vu eptxis jux raodlmz zua dep neli nupiz op siem itvevi. Jux nadj epf jux raodlmz ot dunqmivimz uqip. Vjisi't e haz penif Kedl Nuasfoep xju xet e johj-tdjuum fsuq-uav xusloph op e cufz tjuq. 5 ziest mevis, ji't xusvj $55 Nommoup. Fiwuas emm vji opgusnevoup zua dep ecuav siem itvevi (epf xjeviwis imti opvisitvt zua), neli e qmep epf veli edvoup. Tlz't vji monov.

 

[David]

Dussidv ni og O'n xsuph, cav fuitp'v vji hsuxvj wemai ug iedj ST qsuqisvz op e tiv qisouf ug voni i.h. 4 - 7 ziest foggis duptofisoph e muv ug wesoecmit (vji qiuqmi op vji esie, vji idupunz, us iwip pix fiwimuqnipvt op vji esie)?


Siemotvodemmz tegi vu tez, updi qsuqisvz hu fuxp, vjiz xomm emxezt hu aq cedl aq. Ziv tuni ST tiin vu puv jov vji 100-200%+ hsuxvj xovjop vjev 4-7 ziest voni gseni.

O vjopl madl emtu qmezt e sumi up xjev jeqqipif vu vjev qsuqisvz, e gsoipf ug nopi cuahjv e juati cetodemmz op vji jiesv ug e tacasc. Gusxesf 5 ziest, nekus fiwimuqnipvt tvesv jeqqip vu veli qmedi, fiwimuqist ipf aq tassuapfoph vji xjumi esie xovj Apovt. Ji xet ecmi vu pihuvoevi e tvsuph qsodi up vji juni (suahjmz 300%+ Nesliv Wemai), topdi cuvj ug jot piohjcust jewi emsiefz ciip cuahjv uav epf ji xet vji upmz upi happoph.

 

[LagunaLauren]

Fewof-Ug duasti eqqsidoevoup ot fiqipfipv up muvt ug wesoecmit, cav, xustv deti tdipesou, xovj pu eqqsidoevoup, zua dep tvomm neli e qutovowi detj gmux gsun sipvem opduni qsuqt epf caomf zuas piv xusvj. Itq op e fuxp nesliv moli pux, xjip zua dep hiv qsuqt up temi. Eqqsidoevoup epf iraovz esi emxezt huuf xjip vji nesliv fuit duni cedl.

 

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