New to Real Estate · Houston, TX · Member since 2024 · 6 posts · 1 vote
Hello everyone, I am new here and I have no real estate experience, but I am very interested. I welcome any tips or suggestions that will help me get started.
Investor · Member since 2022 · 21 posts · 19 votes
2y
Hello! Welcome to the real estate world! It's great that you're interested in getting started. One important tip for you is that if you decide to hire a property manager, make sure to check if they are licensed. This is crucial for ensuring that you are working with a professional who meets industry standards and requirements. Best of luck on your real estate journey!
Investor · Smyrna, DE · Member since 2024 · 15 posts · 10 votes
2y
Hi Gabriel!
Welcome, I am a beginner, too. Read the BP forums, try to get the BP books from your library, watch the BP podcasts, you will learn so much! I use the search tool as like a Google for whatever real estate question I have and it delivers. The community is awesome, welcome again!
Welcome, I am a beginner, too. Read the BP forums, try to get the BP books from your library, watch the BP podcasts, you will learn so much! I use the search tool as like a Google for whatever real estate question I have and it delivers. The community is awesome, welcome again!
Thanks for the information and thanks for the welcome greeting.
First of all, welcome and great decision wanting to get into RE investing. The 2 biggest things that helped me jump in RE investing were:
1- Consume as much information and knowledge as possible. Listen to pod casts, read books/forums, go to meet ups and chat with current investors.
2- Take action. Buying my first rental house and going through the entire process of renting it out was the single most impactful step to propel forward into this journey. It helped me learn, build confidence and really light a fire in me to keep pushing.
I am a real estate agent, investor and developer in central Houston. Good luck on your journey and reach out if you have any questions.
Investor · Member since 2022 · 21 posts · 19 votes
2y
Hello! Welcome to the real estate world! It's great that you're interested in getting started. One important tip for you is that if you decide to hire a property manager, make sure to check if they are licensed. This is crucial for ensuring that you are working with a professional who meets industry standards and requirements. Best of luck on your real estate journey!
Hello everyone, I am new here and I have no real estate experience, but I am very interested. I welcome any tips or suggestions that will help me get started.
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. NETWORK!!! Get out of your comfort zone. Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away. Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area. You can also find real estate investing groups through meetup.com, facebook, or a Google search. Birds of a feather flock together!
5. 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. A handy search bar in the upper right 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, recognizing a good deal will be much easier 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.
6. Study the market. You can learn to do this independently or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.
7. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. You could read 100 books and still not know enough because certain things must be learned through trial and error. You don't need to know everything to get started; you 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 forgiving world; the average person can still make money even with some big mistakes.
New to Real Estate · Houston, TX · Member since 2024 · 6 posts · 1 vote
2y
Thank you Morgan for the welcome greeting. I have some questions about starting on real estate investing. Do you prefer if I ask the questions on this messenger or do you prefer a phone call?
Thank you Morgan for the welcome greeting. I have some questions about starting on real estate investing. Do you prefer if I ask the questions on this messenger or do you prefer a phone call?
Gabriel, I'll message you to setup a phone call! Check your PM!
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