Looking to begin my investing journey

[Nicholas Ramirez]

Hello all. I'm starting on an investment journey, but don't really know where to begin. The only thing I've thought to do myself is listen to podcasta and start readings some books; I'm currently reading David Greene's BRRRR Book. I need a mentor who's willing to share their knowledge with me. I don't have anything but my time and work to offer. I'm willing to work after 5pm weekdays and anytime on weekends.

[Robert Reynolds]

Those are great places to start, that’s where I also started. You can learn so much with books and podcast. I would recommend also going to local real estate meetups and find ways to provide value to local investors there. I’d love to connect soon and get to know how I can help you on your real estate investing journey. 

[Andrew Syrios]

Welcome to BiggerPockets Nicholas and best of luck investing!

[River Sava]

Hi Nicholas - welcome to BP! Curious if you looking to invest in CA or out of state 

[Nathan Gesner]

Quote from @Nicholas Ramirez:

Hello all. I'm starting on an investment journey, but don't really know where to begin. The only thing I've thought to do myself is listen to podcasta and start readings some books; I'm currently reading David Greene's BRRRR Book. I need a mentor who's willing to share their knowledge with me. I don't have anything but my time and work to offer. I'm willing to work after 5pm weekdays and anytime on weekends.

Welcome to the BiggerPockets forums!

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.

[Richard Loniewski]

Feel free to reach out with any questions, keep learning and put together your plan of action.

[Nicholas Ramirez]

Quote from @River Sava:

Hi Nicholas - welcome to BP! Curious if you looking to invest in CA or out of state 

 Hi River! Thanks for the question! I'm open to investing anywhere. One thing I've learned so far is that "investing in your own backyard" doesn't much apply in today's world with the technology we have available. Sure it may be a bit more work, but the key thing is that it's doable, and that's enough for me to bite.

[Nate Sanow]

Welcome. Best wishes and good luck to you!

[Nicholas L.]

@Nicholas Ramirez

for your first investment, I'd strongly recommend investing locally.  yes, it's possible to invest anywhere.  but when you're just getting started, you have 'home court advantage' if you stay local.  there are actually lots of threads on BP from people who bought random long distance properties that didn't work out.

and by 'local' i mean up to 2-4 hours away.  go to REIAs.  build a network.  talk to agents, lenders, property managers and other investors.  and save, save, save.

[Leona Usaty]

Quote from @Nicholas Ramirez:

Hello all. I'm starting on an investment journey, but don't really know where to begin. The only thing I've thought to do myself is listen to podcasta and start readings some books; I'm currently reading David Greene's BRRRR Book. I need a mentor who's willing to share their knowledge with me. I don't have anything but my time and work to offer. I'm willing to work after 5pm weekdays and anytime on weekends.

Hey Nicholas,My name is Leona; I am a Realtor and CEO of Leona Estates. My team is working for investors; I will be happy to be your source; feel free to contact me.
Leona