When the time is right?

Question

Hello BiggerPockets Community,

New to the BP community and thinking about Real Estate investing. For the past 6 months i've been listening to podcasts, reading through the forum topics and conversations, jumping into real estate books and just trying to familiarize myself and learn all I can about next steps I can take with real estate. I'm a career Special Education teacher, 18 years in, and also work full time as a Direct Support Professional serving adults with disabilities in my community. My wife works part time which gives us flexibility with our three kids with school and life activities.

My questions are:

- When did you know the time was write to start investing?

- Did you have that magic number saved up for your first property? Did you just go for it?

I'm definitely not in a position currently to purchase, we are Dave Ramsey family and almost debt free outside of our mortgage. Looking for advice on next steps to get someone out of "Analysis Paralysis" and motivation to go for it. I've enjoyed learning from all of you in these forums.

God bless, appreciate all the insights!

E.J. McCaffrey · Answer

Welcome, and take a deep breath. You’re not alone in this!

Feeling overwhelmed at the start of your real estate investing journey is completely normal. There’s a lot to learn, and it can be tough to figure out where to begin. The good news is, you don’t have to have it all figured out from day one. What matters most is taking things step by step and starting with the foundations that will protect and empower you as you grow.

A lot of people ask the same questions you have about when the right time is to start investing. Honestly, there is not a perfect moment or a flashing sign. Every individual reaches a point where they have learned enough to feel confident taking action, even if everything isn’t perfectly in place.

I’m not sure if there is a “magic number” to save for your first property. The “ideal” situation may never come.  Most of my clients just took the leap when the opportunity aligned with their goals and risk tolerance. Of course, they did their homework and made sure the basics were in order, but at some point, you have to stop analyzing and start doing.

That’s why I always recommend focusing early on two key areas: tax planning and asset protection. They may not be as exciting as touring properties or closing your first deal, but they’re critical to building a strong, sustainable investing business. A solid tax strategy helps you keep more of your earnings and structure your investments wisely. Legal protections help shield your personal assets, reduce your exposure, and give you peace of mind.

You don’t have to become an expert overnight. One of the smartest things you can do early on is build a reliable team, like a tax advisor who understands real estate and an attorney who specializes in asset protection. They’ll help you navigate the more complex stuff so you can move forward with confidence.

Just by being here and asking questions, you’ve already taken a huge step in the right direction.

Disclaimer: This message is for educational purposes only and does not constitute legal, tax, or financial advice. No professional relationship is established through this communication. Please consult qualified professionals for guidance specific to your situation.

Benjamin Aaker · Answer

Accidental landlord here. I didn't know the time was right until I started collecting rent checks. For other people, make sure you have the down payment. Set up your purchase criteria. With that criteria, talk to your banker to see what down payment you need to have saved. At that point start evaluating lots of deals until you find one that you can't let go. That's when you know it's time to become an investor.

Corby Goade · Answer

Welcome!

Oh man, I have so much to say in response to your post. My wife was a Special Education teacher for years while we built up our business. I worked for the Special Olympics during that same time. I know the struggle and how scary it can be when you have jobs that serve the community, but don't pay much.

The short answer is; the right time to invest in all about your reasources and opportunities. It has nothing to do with interest rates, multiple offers, property values being too high, etc. You jump in and make moves when you are able and don't worry about things outisde if your control.

Second- I'd be willing to bet that you could start now. It's not as if it gets less scary or stressful if you wait longer or save more money. The more you think about it, the less likely you are to actually take action. Anyone gainfully employed with a half way decent job can house hack a multifamily, which is the lowest risk and least expensive way to start a portfolio.

Finally- you're going to have to forget about 85% of what you learned from Dave Ramsey. If you keep the mindset that he teaches, you'll be broke forever. I mean, seriously- are you going to deliver pizzas after work and save up enough to pay cash for an investment property? It's not possible.

I'm happy to chat strategy and steps with you, feel free to DM me.

Christine Mulkins · Answer

If the numbers make sense and you feel at least mostly ready to move forward, then it's the right time. It's always a little scary making a huge investment in real estate, even I do and I've been buying real estate for 13 years.  But if you are really motivated to build your wealth, real estate investing is the way to go!

Nicholas L. · Answer

@Nathan Cain

hello.  it's a great question.  i don't believe in 'analysis paralysis.'  often the people who say that you have that are trying to sell you something.  a lot of people think they have 'analysis paralysis' when what they really have is... no money.  and having no money means, in most cases at least, that you're not ready to invest.

for me, i kept my first primary residence as a rental when I moved into my next one.  and that was before I discovered BP.  it didn't have a lot to do with 'mindset.'  it was a fairly obvious move.

i think what new investors need to understand right now is that the market has changed from 10 years ago when a lot of the bullish content that people are still consuming was written. with interest rates high, if you're buying vanilla long term rentals, you really need to be in it for the very long term.  you're not going to 'cash flow,' as the expression goes, for years if you're honest, because: it costs money to buy, it costs money to own, it costs money to get a property rent ready, and it costs money when tenants turn over.  all of those costs are frequently overlooked and they add up.

a spreadsheet doesn't tell you if you've cash flowed or not - your tax return does.  but you never, ever hear anyone sharing on BP what their tax return said about property X.  instead, they say they cash flowed $2000... before repairs and other expenses!  IE, they didn't cash flow.so, if you're good with the other benefits - mortgage paydown, potential appreciation, etc. - great.  but again, you're not going to truly NET cash for a long time.  potentially 10+ years.  new investors often say they're going to buy LTRs and use the proceeds immediately to pay down debt or fund other purchases.  that's not happening.  see this thread.

Quit your W2 with cash flow - wrong ideai hope this helps you think about what being ready would look like for you.  i'm happy to dialogue here in the forums or you can PM me.  i have nothing to sell and in fact, i'm likely to try to talk you OUT of investing. =)

When the time is right?

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