I’ve been self educating myself on this real estate investing thing for over a year now. I feel that I have satisfactory knowledge to take the “big plunge” and start making investments. Here is my problem… I am currently a student at Johnson and Wales in Providence RI. After College, in two years or so, I want to move and therefore live in FL. Do I start investing here only to learn the market and then leave in two years OR do I wait until I move to FL and then start investing in a new market I will have to learn. I feel this is a “delema” but may just be an excuse due to the big plunge effect. ALL and ANY feedback is appreciated. Thanks! Christopher
It depends what you are going to do. If you are going to start out wholesaling, then why not start now. If you want to buy and hold, you probably don’t want to have rentals in an area that you will be leaving.
I’d get my feet wet - either with wholesaling or birddogging - now. There is a big learning curve from the theoretical to actually putting a deal together. So continue your education by doing some quick turn-arounds where you can learn on a new level.
Christopher, two years is a long, long time to sit on your hands and wait out your future.
Start now, but tailor your approach to your future plans. If you’re moving in two years you probably don’t want to be tied to anything long term. What about some assignments, Cooperative Assignments, and options as a safe, short term approach?
“Advice” and “dilemma”.
I think that as a person learns more, and internalizes the possibilities of making money in real estate, their goals will form naturally. Since you are asking such a broad question, I think it might be best to continually study and develop the approach you want to take. Once you have decided what is best for YOU, then you should ask questions for details/tips/opinions on that strategy. Good luck.
Thank all of you for the advice/ideas. I think that now I will start to become knowledgeable on general real estate in FL even thought I am unsure where I am going to move to. My plan is to study for my masters in FL and I have not looked at schools in a particular region seriously yet. I will start birddoging and wholesaling now in Providence and hopefully find a successful seasoned investor to apprentice with. I do apologize for my spelling in the original post, I am very ill and my brain isn’t functioning at 100%. I just cant get enough real estate in me, so no matter how sick I get I’m in front of this forum! Thanks everyone.