New to Real Estate · Suffolk County, Long Island · Member since 2023 · 5 posts · 0 votes
It's nice to finally speak on here after lurking for about a year. I wanted to be educated enough before I made an account and contributed, so I waited while reading several books on REI I am currently finishing college for an engineering degree (no debt). And am currently working 2 jobs, saving about 50% of what I make. My hope is to learn enough in the next 2 years on this site while continuing to read books, analyze deals, built credit, and save money. This is in hopes that when I graduate in 2 years, I can invest in my first property. I am a little torn that the housing market on Long island is so expensive, and would hate to move out of state to invest because my family's here, I also am not too keen on investing out of state.
Thank you all for being such a great community, I appreciate any advice that can be given on what else I should be doing in this learning phase of my RE career.
Im from Brooklyn NY so I'm very familiar with the expense barrier. I actually did exactly what youre doing now. Got my degree and stable job while gaining knowledge on investing, then realized that action was needed in order to truly learn (analysis paralysis is real). Feel free to PM me, I can recommend the books that I've read to gain knowledge and why/how I chose to invest out of state.
Hi @Nicholas Neto congrats on already taking some positive steps to move forward. While you are saving and learning, try to network with other local investors. You can attend REIA meetings and use this platform to connect with other Long Island investors. That should help while you are preparing to purchase anything.
Hey @Nicholas Neto - your head's already in the right place, keep learning and reading.
I recommend attending 1-2 meetups every few months to get familiar with the movers and shakers in your local real estate market.
A few of the larger investors host their own meetups every quarter that would be worth you looking into. A simple Google search for REI meetups on Long Island should be helpful.
Im from Brooklyn NY so I'm very familiar with the expense barrier. I actually did exactly what youre doing now. Got my degree and stable job while gaining knowledge on investing, then realized that action was needed in order to truly learn (analysis paralysis is real). Feel free to PM me, I can recommend the books that I've read to gain knowledge and why/how I chose to invest out of state.
Hey Nicholas. It sounds like you're way further ahead than most given your pursuit of knowledge and leg up on saving $$$. You've already started familiarizing yourself with your market so even though Long Island is a pricier area, you should be able to spot a good deal whenever it comes to you. I agree with everyone else here, as well, that going to investor meetups is a fantastic way to begin to make connection and build a team. Networking and then eventually finding an agent and lender that you trust is a crucial step.
Hey @Nicholas Neto - your head's already in the right place, keep learning and reading.
I recommend attending 1-2 meetups every few months to get familiar with the movers and shakers in your local real estate market.
A few of the larger investors host their own meetups every quarter that would be worth you looking into. A simple Google search for REI meetups on Long Island should be helpful.
Feel free to reach out, happy to connect offline.
Hey Mohammed thanks for commenting and nice to meet you. I took you up on your advice and already have my first REI meetup planned this weekend. Have tons of notes and questions prepared I want to ask investors.
Hey Nicholas. It sounds like you're way further ahead than most given your pursuit of knowledge and leg up on saving $$$. You've already started familiarizing yourself with your market so even though Long Island is a pricier area, you should be able to spot a good deal whenever it comes to you. I agree with everyone else here, as well, that going to investor meetups is a fantastic way to begin to make connection and build a team. Networking and then eventually finding an agent and lender that you trust is a crucial step.
Hey Abbey thanks for commenting and nice to meet you. I currently browse the market through websites to try my best to spot good deals and identify the lemons. I look forward to sharpening my skills by networking through REI meetups and dms. Cheers!