First step before investing in real estate: go to an appointment

Tomorrow, Caleb and Chuck Sotelo knew little about real estate before investing in their first real estate. After all, they were only teens.

“We had no experience,” Sotelo told Business Insider. “We had no credit, we didn't have the money and we didn't really have any connections.”

Friends who met on the first day of high school when they were sitting in a ceramic class next to each other began to discuss real estate during the pandemic. They were registered in two different Junior colleges, but learning distant meant that they both took classes at home, five doors below each other.

Without money or inexperienced, they began to participate in local real estate investments. In one of these events, someone they directed a mentor program called Multipety strategy – a paid program to which they finally signed up and would help them Build a 28-unit real estate portfolio Using other people's money.

Avery Heilbron found himself in the same way as the college was graduated in 2018, similar to that of the college. He wanted to have real estate but had no capital – or a strong enough credit score.

“I didn't even realize I needed credit,” said Heilbron, who received his first credit card, Bi a few months after graduating from college. “So when I first searched with my agent, I was not yet allowed to confirm the previous confirmation because I didn't have a credit score.”

Like tomorrow and Sotelo, he started with local real estate network events. It allowed him to learn the sides of his market, Boston and better understand the purchase process, so if he was financially ready to buy, he would have tools to wet and jump on the transaction.

As happens, it was an agent he met at a network event who helped facilitate his first deal. The agent gave him a Duplex head to go back to the market after the cash supply went through, and asked Heilbron if he wanted it before he called it. Heilbron jumped on the offer, which had a strong credit and enough savings to contribute.

This first transaction would lead to 14-unit portfolio And enough rental income to walk away from work in your business.

The power of self-surrounding with like-minded people-and how to do it

A couple of Jeff White and Suleyka Bolaños in Denver, who retired in their 30s If the cash flow of these rents exceeded their daily income was used Honeyup.com Find real estate network events in your area.

For some reasons, staying in a room with other investors was helpful. It was a room for a strategy, for example to “discuss”hacking” – Living in one part of the real estate to cover a mortgage while hiring other units – so the couple have managed to live free in their home since 2017, and 1031 shifts – the tax strategy they eventually exchanged one investment asset into two and side capital growth tax.

It was also useful to communicate with people who understood their goals and could be related to their challenges.

“You don't feel that this single person is just doing things there,” Bolaños said. “It can be truly stressful if you feel you have to do everything yourself, but when you join these meetings, you can get to know, compare people, you have some problem, you know who to turn to. You just have more community to help.”

If your city or city has no comfortable meetings, consider starting it or exploring web collections.

Ludomir Wanot who Built -in wealth that makes wholesale in Seattlejoined a Facebook group called WA Real Estate Investing (Warei) to meet local investors when he first started.

He also took advantage of local meetings. There he found mentors and asked the investors founded exactly how they started and how they expanded.

“Surround yourself with people who feel more than you ask questions and build relationships with all the different people you meet, because you never know when you can work with them on the road,” Wanot said.

You could shake hands with your future business partner, lender or wholesaler-or Heilbron, your future real estate agent who will keep the keys to your first deal.