All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Buying & Selling Real Estate Followed Forums Landlord Forums & Rental Property Questions New Member Intros Newest Posts Trending Discussions See All
  • Education

    Read

    Guides Member Blog BiggerPockets Blog

    Watch

    Webinars Video Library Free Courses

    Listen

    BiggerPockets Podcast The Money Show Podcast BiggerPockets Business Podcast

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Companies Real Estate Agents Hard Money Lenders Investment Companies Mortgage Lenders Contractors

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    Landlord Resources
  • Marketplace
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    The Intention Journal Buy, Rehab, Rent, Refinance, Repeat The Book On Rental Property Investing See all books

    Real Estate Forms

    Lease Agreement Package

    Featured Book

    The House Hacking Strategy book cover
    The House Hacking Strategy

    Discover why so many successful investors support their investment careers with house hacking—and learn from a frugality expert who has “hacked” his way toward financial freedom!

    Get the book now
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books New York
BlogArrowReal Estate Investing BasicsArrow4 Steps to Get Started in Real Estate Investing
Real Estate Investing Basics Aug 14, 2019

4 Steps to Get Started in Real Estate Investing

Tarl Yarber
Expertise:
7 Articles Written

This post is going to be simple and to the point. These are the first four steps a new investor should do when they’re getting into real estate, based on my personal experience.

Want more articles like this?

Create an account today to get BiggerPocket's best blog articles delivered to your inbox

Sign up for free

How to Get Started in Real Estate Investing

  1. Network with experienced investors.

The No. 1 thing I would tell anybody is to go network with other investors. Whether you do it on BiggerPockets, attend local meetups, whatever—go do this.

Related: 12 Simple Tips For Beginner Real Estate Investors

  1. Find a mentor.

The second thing is definitely find some sort of mentor, somebody who might be able to help you out in some way. If you don’t know how to do something yourself, there are plenty of people who do. And just because one of them turns you down doesn’t mean that other ones will. So keep fighting until you find one.

  1. Offer something in return.

Third, when you’re going to find that mentor, don’t be “that guy” or “that girl,” who’s super annoying and asking for so much but not giving any help in return.

Related: The 3 Most Common Real Estate Myths Beginning Investors Believe

  1. Know your strategy.

The No. 4 thing is strategy. Know what you want to do in real estate investing. If you do not know what you want to do, then go do little tests and figure stuff out until you find what you’re attracted to.

My success did not start until I actually focused on one thing. There are so many areas of real estate. People say, “I’m going to flip a house, I’m going to BRRRR, I’m going to buy rentals, I’m going to buy multifamily, and I’m going to do a syndicate.”

They start because it all sounds great; they’ll make lots of money. But they suck at all of them. They never really take off.

So, in 2014, when I decided I was just going to flip houses, I had my largest financial success. I was able to get better margins, better focus. Now I can add other things to it since I have a strategy in place and a focus.

That’s it! Those are the four steps I’d recommend.

ad-ultimate-beginners-guide

What tips would you add to this list? What’s your best advice for newbies?

Share in a comment below. 

By Tarl Yarber

Tarl Yarber is the CEO and Founder of Fixated Real Estate LLC, a Pacific Northwest leading investment company with over $45MM in single family residential properties purchased, rehabbed, and re-sold over the last four years. With over 600 real estate transactions under his belt in his career since 2011, Tarl and his team are considered experts in the investment industry and specialize in real estate systems for success. Tarl has been a guest on episode 189 of the BiggerPockets Podcast, along with numerous others. After creating Fixated On Real Estate, the #1 Pacific Northwest real estate meetup for investors, and the PNW Big Bad Ass Real Estate Wealth Expo, the largest real estate conference in the PNW, he has become passionate about helping others scale their businesses to the next level. Today, Tarl focuses on his new passion, BRRRR (buy, rehab, rent, refinance, repeat) investing. Since he started working on BRRRR, Tarl and his team have accumulated 22 single family rentals in the Seattle market (in addition to their usual fix/flip volume).

5 Replies
    Jerry Maze Flipper/Rehabber from Portage, MI
    Replied 4 months ago
    To the point... good advice! Thanks!

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Mark Knowlden from Tacoma, WA
    Replied 4 months ago
    BRRRR in the Seattle market? Wow. With such high real estate values, how do you find properties with enough margin/profit at the end? Do you have a target profit $$ amount, or a target profit % that makes sense in these high cost areas (and that you'd be willing to share)? Thank you.

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Solomon Jackson from Chattanooga, TN
    Replied 4 months ago
    As a beginner investor, this article has been very informative! I find that it’s been so important to network and find any bit of info I can. Whether it pertains to residential or commercial property, LTR’s or STR’s just gaining general knowledge pertaining to real estate has helped boost my morale and confidence in investing. Still on the hunt for finding a solid mentor, but like the article stated, “just because one turns you down that other ones will”. All in all great article, thanks!

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Scott Provost from Olympia, WA
    Replied 4 months ago
    Great stuff! Thanks from Olympia WA.

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Koronda Davis
    Replied 4 months ago
    I've been trying to do real estate investing mostly wholesaling and I'm having a really hard time finding buyers a really hard time in Arkansas

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
Rotate Log in or sign up to comment

Related Blog Posts

Real Estate Investing Basics Dec 09, 2019

Investing in Real Estate Is Pretty Much the Worst—But THIS Makes It Worth It (Hint: It’s Not Money)

By Ben Leybovich

Real estate investing is a dirty business that all too often exposes us to the side of humanity best left in the dark. Tenants who skip out, contractors who don’t show up, bankers who want to give you a prostate exam… All of it is why I don’t like real estate. Yet I love what I do. Here’s why.

Read more →

Real Estate Investing Basics Dec 09, 2019

What Would Warren Buffett Do? 12 Quotes for Smarter Investing

By Ali Boone

If you feel like you’re losing motivation in your real estate investing career, it may be time to turn to the timeless wisdom of the legendary Warren Buffett. Look to the guy who has done what you are trying to do, and follow in his footsteps.

Read more →

Real Estate Investing Basics Dec 04, 2019

How Much Should You Budget for Reserves and CapEx?

By Nathaniel Hovsepian

If you haven’t experienced it firsthand, you’ve likely heard horror stories from real estate investors about a rental property that is cash flowing well, then suddenly the HVAC goes out. It’s going to be $4,500. Oh, no! This is when reserves and CapEx come into play. Learn more here.

Read more →

Real Estate Investing Basics Dec 04, 2019

How to Start Thinking Like a Big-Time Real Estate Investor

By Tarl Yarber

In this brief interview with investor Thach Nguyen, he reveals how he has successfully made a career of investing in real estate. What’s the key to generating big profits—enough passive income to retire from your 9 to 5? Thach says it’s having the correct mindset. Here’s what he means.

Read more →
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2019 BiggerPockets, LLC. All Rights Reserved.