Im 18 and will be a senior in high school and planning on going to college for communications and business and getting an mba. I want to get into real estate investing when i get out of college with my friend josh(hoosier4life2005). I would like any and all advice on preparing and planning to get into investing into real estate.
I bought my first property the summer I got out of high school, with that said I also had parents heavily into real estate to mentor and guide me.
Read everything you can see for free, spend some time and attend REI meetings in your area to learn. There are a bunch of publications and free internet sites where you can learn things you do not know yet.
If the opportunity presents it’s self while in college look at the idea of buying a place (Something Small & inexpensive) maybe with mom and dad as partners that you could live in and rent a few rooms and sit on for 4 or 5 years? This also very much depends on what area of the country you go to school?
You are young and have your mind going in the right direction. There is nothing like creating your own cash flow. Words of advice: You wanting to get into real estate investing with your friend is great, but make sure that he is just as motivated and ambitious as you are or it will never work. He will just ride your coat tail and that will cause problems. (I’ve seen this happen many times with partners.)
I would start by knowing what method of real estate you are willing to take. What type of cash flow are you working with, what type of marketing are you plan on doing, etc…
Establish a plan my friend. :bobble