Where to begin?

16 Replies

I have read several forums and the beginners guide which is helpful but still kind of confused as to where to begin. I been trying to get into real estate investing for the last eight years. I started out buying into the Armando's stuff and got no where and recently renatus has been trying to get me to sign up with them. I have wasted thousands of dollars just to get no where. I use to live in Ohio but recently moved to Martinsburg, WV to be with my fiancé and her family. I am trying to learn this diverse market but its not as simple as Ohio was. I was told to start my own llc and I did in Ohio but not sure if I did it correctly. I have no money since I been out of work for the last year and a half due to a work injury but when I get my settlement I would like to get into fix and flip and rent and hold. I been to a REI club in Ohio but no one there was willing to help even when I offered services and not sure to see if there's one here since there was a fee to get in and I'm almost out of money. What is the best way to get started now or do I have to wait till I get my settlement?

Originally posted by @Ronald Heppner :
I have read several forums and the beginners guide which is helpful but still kind of confused as to where to begin. I been trying to get into real estate investing for the last eight years. I started out buying into the Armando's stuff and got no where and recently renatus has been trying to get me to sign up with them. I have wasted thousands of dollars just to get no where. I use to live in Ohio but recently moved to Martinsburg, WV to be with my fiancé and her family. I am trying to learn this diverse market but its not as simple as Ohio was. I was told to start my own llc and I did in Ohio but not sure if I did it correctly. I have no money since I been out of work for the last year and a half due to a work injury but when I get my settlement I would like to get into fix and flip and rent and hold. I been to a REI club in Ohio but no one there was willing to help even when I offered services and not sure to see if there's one here since there was a fee to get in and I'm almost out of money. What is the best way to get started now or do I have to wait till I get my settlement?

Hi Ronald,

Sorry to hear about your injury. Something similar happened to me 4 years ago and it actually gave me time to re-asses my life and move down a different route.

Ohio is a great market and I am actually moving there in 7 days to continue growing my portfolio.

I love the saying "make a passion an obsession and you will never work a day in your life"

If you live and breathe real estate all day and everyday you will find that things start to open. Doors start opening and you start excelling in field.

Leave no stone unturned. Its just a numbers game. Connect with as many people as you possible can on daily basis. Ask questions of investors who already are where you want to be.

Spend a fortune on lunches and coffees and pick their brains haha

You will find that most professionals will happily assist. The ones that won't, well they aren't even worth talking to.

Thanks for reading and I hope my post helps.

Have a great day.

In addition to what @Engelo Rumora said...don't invest thousands into guru programs. Read the many posts here on BP. Network online by providing value to people and being engaged. Things don't happen overnight. Spend 1 hour a day on BP. Get to know people. Ask questions. Comment. Research stuff for people if you can. Provide value. You'll be amazed...people will come in to help out.

I agree, don't spend money on learning the business except for lunches. You can learn so much from those who are in the business. It's going to take cash to get started though so to some extent you're on hold but there is a lot of information to learn in between. Good luck!

@Ronald Heppner

Well you are in the right place now. Start listening to the podcast on this site. Start reading various post. You will learn a lot........ A Lot! Good luck to you. You can do it. Also start assessing your personal situation to make sure can invest wisely.

I agree with Jarrett, acquire as much possible and grow your experiences. Good place to start absolutely without doubt..Biggerpockets

Thank you, Everyone for your comments. I have been looking around the forums in here and been reading the beginners guide and have learned a lot so far. I'm glad that when I was doing some research on renatus so I don't get into another place that takes all your money and leads you no where, I came across a blog about them and it led me to here. I will be on here and ask questions. Ohio is a great market right now and I was upset that a couple deals slipped through my hands due to no finances available. I would love to buy someone coffee or buy lunch for someone around this area. I will keep learning while I'm looking. Thank you so much for the help.

Originally posted by @Ronald Heppner :
Thank you, Everyone for your comments. I have been looking around the forums in here and been reading the beginners guide and have learned a lot so far. I'm glad that when I was doing some research on renatus so I don't get into another place that takes all your money and leads you no where, I came across a blog about them and it led me to here. I will be on here and ask questions. Ohio is a great market right now and I was upset that a couple deals slipped through my hands due to no finances available. I would love to buy someone coffee or buy lunch for someone around this area. I will keep learning while I'm looking. Thank you so much for the help.

I will never ever understand why people give these idiot guru's money. You have been on the sidelines for 8 years. So for 8 years you have missed so many good deals there for you to take.

Sometimes you need to stop all the planning and thinking and just get going.

All the money you spent on all those idiots you could have bought a few properties

Well Ronald I am sort of in the same boat minus the settlement lol. I read the beginners guide and now Im exploring all the links attached to it. I have a little money from flipping cars. I signed up for real estate school because it is only around $500 with everything to get ur licence with testing. I bought the domain smoothsalehomes.com for $10 off of godaddy , got the google voice # (405)459-SALE for free. Ordered 1500 bizz cards from vista print for $70 and then I looked into Than Merrils fortunebuilder back office software realeflow and purchased that for $99/mo which is very comprehensive and provides wholesaling training courses, leads pipes(bankrupsy,foreclosures,private lenders, cash buyers, tax liens, etc..) for your county and surrounding area, real estate website templates ( http:www.smoothsalehomes.com ) it gives automated tools for direct mail, mobile marketing, bandit signs, rehab estimates, 8 free squeeze pages. Set up a facebook bizz page and twitter. Started researching and studying contracts. I made an appointment with a real estate attorney to discuss legistics and develop a tailored contract, which I got the referral from the 1st meeting of the REIA I just joined and plan to interview a title company or 2 tomorrow and then I should almost be ready to start handling leads and solidifying deals, right after I meet with the REIA for lunch tmrw and build my buyers list:) . Hope this might help you in taking steps to getting off on the right foot. WHOLESALE -WHOLESALE- FLIP-RENTAL. Blessings to all and I am looking for as many colleages as I can acquire on here.

I agree w/ most of what is said above. I am a new investor as well and I will say that you do NOT NEED a "guru" to teach you what you need to know about this business. However, none of us will get very far without being dedicated to our education. There are a ton of great youtube channels out there that have taught me soooo much and I haven't even scratched the surface I'm sure. At some point though you just have to take the plunge and try something. The worst that happens is you learn something! I have been studying and learning, writing out business models, and daydreaming for about six weeks along with completing my real estate school at night, it has become an obsession. Then I finally decided to just dive in after putting a plan together. I pulled my absentee list from listsource and using click2mail got my letters out in a hurry. I then set up my google voicemail account and spent every extra hour I had looking at house after house after house while not at my full time job, or with my wife and son. Wow, I did not know busy until now! I bought my first flip yesterday at a foreclosure auction and my phone has been ringing off the hook. 30+ calls in two days from my letters. It is overwhelming but now I am in position to get rolling! Here is the formula that will work for everyone. 1. Be serious about education. 2. Dive in and work your butt off!! 4. Network (this site, local investors, etc.. that can encourage and advise) 5. Expect success! I would add though that while a "guru" is not necessary and in some cases can be detrimental to one's development and finances, there are many experts out there that have lots of free content and all you need to do is search it out. They have been a key component of me wrapping my head around this thing and getting a plan in order. I hope you are able to get started soon and feel some sense of direction. Best of luck!!

Well Scott K., When you don't know where to go or what to do unfortunately people take advantage and they know how to play your emotions against you. Robert Lunt, it seems like your on the right road and I'm looking forward to be where you are and I see your in Florida maybe during the cold months up here I'll come down there to do some projects with you. I worry about making a website and getting a landline right now since I'm just about on my last dollar and not sure when I'm going get paid again and I'm tired of this kind of lifestyle and really need to get something going.

@Ronald Heppner ,

Click on the learn tab, at the top of this page, and you could be spending many hours with the Information that is available.

Raymond

One of the safest ways is to start out being a deal partner for a reputable wholesaler. This way you can locate properties, learn the process, and work together with them until you are comfortable doing it on your own. Many wholesalers realize you may be a competitor to them once you get it down, but in the meantime everyone wins, and who knows you may just build strong enough relationships where you never need to do it alone... It is a tough business if you are involved in every step of the process by yourself!

@Ronald Heppner Here is thing about getting started in real estate investing. It will cost some money so having none is a problem. What you can do until your settlement comes and you have a few bucks is to get out there and meet as many investors as possible. Build relationships make friends.

When trying to build the relationship don't be asking for them to help you out in the beginning. Just try and make a friend. Friends will help you out when you need it. You have to build up a relationship before you can really benefit from it. I forget who I heard this from but the saying went...

"You must build equity before you can start pulling money from it"

In other words, you must start building your relationships and trust before you can start to ask for help and get true help.

Otherwise you get stuck spending 1000's of dollars on people who are only looking out for their best interests.

@Ronald Heppner , definitely listen to the podcasts and go through their previous casts too. They are full of information and real life situations.

Good Luck!

I would agree " podcasts "

Welcome to biggerpockets

Quote for the month: Wealth is a team sport

Thanks everyone you all have been real helpful. I been and will continue to check out the forums available to learn as much as I can while I wait for things to take place.

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