Starting Out

User Stats

2
Posts
0
Votes
Richard Trevino
  • New to Real Estate
  • Nashville
0
Votes |
2
Posts

NEED HELP ASAP! Seeking help preferably from a senior investor!

Richard Trevino
  • New to Real Estate
  • Nashville
Posted Nov 4 2022, 08:54


If there is a senior Investor that is willing to help me buy my first muti-family property. My name is Rick, I am 24 years old new to the cash flow game, I currently work at Bob Cat of Nashville, as a rental manager. 

thank you for your help

User Stats

2,100
Posts
1,675
Votes
Luka Milicevic
  • Real Estate Agent
  • Nashville, TN
1,675
Votes |
2,100
Posts
Luka Milicevic
  • Real Estate Agent
  • Nashville, TN
Replied Nov 4 2022, 12:52

@Richard Trevino

What are you looking for? 

Budget, area, are you pre qualified? 

  • Real Estate Agent Tennessee (#358883)

User Stats

13
Posts
8
Votes
Amber Arwine
  • Lender
  • Chicago, IL
8
Votes |
13
Posts
Amber Arwine
  • Lender
  • Chicago, IL
Replied Nov 4 2022, 13:38

I'm licensed in TN and can walk you through the lending requirements on your first multiunit, if you have questions on that part of the transaction.

User Stats

21,001
Posts
31,851
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
31,851
Votes |
21,001
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Nov 5 2022, 05:07
Quote from @Richard Trevino:

Welcome to the BiggerPockets forums!

Everything you need to know is available for free on BiggerPockets. You have to put the effort in and learn.

Be careful asking strangers to help you spend your money. There are a lot of unscrupulous people out there, even on this website.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

5. Study the market. You can learn to do this on your own or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR that works with investors and knows how to best help you.

6. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error. You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.


  • Property Manager Wyoming (#12599)

User Stats

13
Posts
7
Votes
Blake Johnson
  • Real Estate Consultant
  • Franklin, TN
7
Votes |
13
Posts
Blake Johnson
  • Real Estate Consultant
  • Franklin, TN
Replied Nov 5 2022, 12:48
Quote from @Richard Trevino:


If there is a senior Investor that is willing to help me buy my first muti-family property. My name is Rick, I am 24 years old new to the cash flow game, I currently work at Bob Cat of Nashville, as a rental manager. 

thank you for your help


 Hey Rick, multi-family investments are my favorite for a myriad of reasons. I am a real estate broker and own a property management company, I would be honored to assist you! 

User Stats

2
Posts
0
Votes
Richard Trevino
  • New to Real Estate
  • Nashville
0
Votes |
2
Posts
Richard Trevino
  • New to Real Estate
  • Nashville
Replied Nov 5 2022, 16:46
Quote from @Nathan Gesner:
Quote from @Richard Trevino:

Welcome to the BiggerPockets forums!

Everything you need to know is available for free on BiggerPockets. You have to put the effort in and learn.

Be careful asking strangers to help you spend your money. There are a lot of unscrupulous people out there, even on this website.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

5. Study the market. You can learn to do this on your own or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR that works with investors and knows how to best help you.

6. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error. You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.


 Thank you to @Nathan Gesner for the warm welcome I will do more research and start asking for more than just a general scream for help. Thank also to all the realtors who seek to work with me I will be contacting you all here shortly. 
thank you for your time and attention 

User Stats

6,212
Posts
3,227
Votes
Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
3,227
Votes |
6,212
Posts
Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
Replied Nov 6 2022, 06:25

@Richard Trevino wow, such a well thought out post that you makes us want to sign up right away.

You know, Robert Kiyosaki has an actual Cash Flow game you might want to buy and play:)

User Stats

5,881
Posts
2,926
Votes
Eliott Elias#2 All Forums Contributor
  • Investor
  • Austin, TX
2,926
Votes |
5,881
Posts
Eliott Elias#2 All Forums Contributor
  • Investor
  • Austin, TX
Replied Nov 6 2022, 07:10

Why would a senior real estate investor help you? What value do you bring? How are you going to help them?