Looking to get into Real Estate, which area should I focus on?

Question

Hey everyone,

I'm interested in getting started in Real Estate, and was just curious which area people suggest to start in? (Flipping, Rentals, etc.) Thanks in advance.

Lexey Vezzoso · Answer

Hey Brenton!

If you are just starting out, wholesaling is a good way to start to get some money so that you can invest into more buy and hold/flips. Listen to the Wholesaling Inc podcast or watch some of Pace Morby's videos on YouTube to learn more about it. I think it would be a great way for you to get you feet wet in real estate.

Good Luck!

-Lexey

Michael Sassone · Answer

I would research some of the different methods: Househacking, BRRRR, Fix N Flip, STR etc and see which one appeals to you most and pursue that method.

Once you’ve picked a method, search the forums to see what people are talking about in regards to that method. A lot of times there will be posts about cities and states that are predicted to be up and coming, already doing well, etc this will give you an idea of the types of things people look for where they are investing.

Contrary to the above, I would start looking in your immediate area and get an idea of what houses are going for. I’d also pick 4 other areas (maybe in the same state or out of state) and see if any of those markets appeal to you. This will help you establish your budget and give you a goal to work towards.

Write down everything you learn along the way and come up with a big goal. Your end picture. Then break that down into smaller steps and continue breaking down the process into even smaller steps until you have a solid plan. Then the last thing to do is take action.

This is OVERLY simplified and one important thing I should mention is analysis paralysis. Don’t get too caught up in the processes I mentioned and let the information consume you. At some point you need to pull the trigger and make a decision.

Good luck!

Marcus Auerbach · Answer

What's your unfair advantage @Brenton Vineyard?

Wholesaling is tough, but if you are a marketing machine go for it. House hacking is a no-brainier, if you currently rent. Buy and hold is the only real investing - flipping is a job in nature and it can be a great one. There are 100 right ways to get started, if you want to know which one is right for you, look at your skills, talents and your interests - that's your unfair advantage.

Chris Winslow · Answer

@Brenton Vineyard househack for sure, it's training wheels for real estate investing. It gets you a general understanding for a lot of aspects of real estate investing without a lot of risk

Nathan Gesner · Answer

Welcome to the BiggerPockets forums!

I agree that house hacking is your best option. You can read all about it in the blogs, talk about it in the forums, or even read the House hacking book in the bookstore.

Nicholas L. · Answer

@Brenton Vineyard

House hack

Looking to get into Real Estate, which area should I focus on?

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