New Old Investor

San Francisco, California
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New Old Investor

Philip W DyerPro Member
New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes

Hi everyone! My name is Phil Dyer and I just joined Bigger Pockets to help me launch my RE investing career. Since I’m approaching retirement age, my goal is to develop a portfolio that provides supplemental income and equity.

I live in San Francisco, so I’ll be starting out smaller by looking into properties in my home state of Louisiana that I can rehab and hold as LTRs, or possibly STRs.

My plan is to focus exclusively on BRRRR for now, doing everything by the book—specifically, the David Greene ones. Looking forward to learning from everyone here and to helping each other become better investors!

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Sandra Morrison
Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 206 posts · 183 votes
9mo

@Remington Lyman Yes, send me your email/contact info

2Reply
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  • Abel CurielBusiness Member
    Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
    9mo

    Welcome to BiggerPockets @Philip W Dyer!

    You came to the right community to connect with like-minded folks along your journey.

    A couple of recommendations for new BP members:
    1. Use the search function to look up topics and locations of interest.
    2. Set up Keyword Alerts so that you can receive notifications anytime a keyword is mentioned i.e. Louisiana, LTR, BRRRR, STR, MTR, etc.

    Looking forward to seeing your progress. Keep the community posted with your questions, wins, challenges, etc.

    All the best!

    Abel

    REbuild Team - eXp Realty5234 Reviews
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    0Reply
  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    9mo
    Quote from @Philip W Dyer:

    Hi everyone! My name is Phil Dyer and I just joined Bigger Pockets to help me launch my RE investing career. Since I’m approaching retirement age, my goal is to develop a portfolio that provides supplemental income and equity.

    I live in San Francisco, so I’ll be starting out smaller by looking into properties in my home state of Louisiana that I can rehab and hold as LTRs, or possibly STRs.

    My plan is to focus exclusively on BRRRR for now, doing everything by the book—specifically, the David Greene ones. Looking forward to learning from everyone here and to helping each other become better investors!


     Find a good agent in that market that owns investment properties, get 75% rules. You want to keep some and flip some deals to grow your cash. 

    Find good contractors (get 2-3 bids), find a good pm, and you are going to do well. 

    MAKE SURE TO GIVE YOUR GC a SCOPE OF WORK (SOW)!!!

    [email protected]614-802-5698
    ReafCo | Ahmed Group 55 Reviews
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    0Reply
    • Daniel Olsson
      Lender · Melbourne, FL · Member since 2024 · 6 posts · 2 votes
      9mo
      Quote from @Alfath Ahmed:
      Quote from @Philip W Dyer:

      Hi everyone! My name is Phil Dyer and I just joined Bigger Pockets to help me launch my RE investing career. Since I’m approaching retirement age, my goal is to develop a portfolio that provides supplemental income and equity.

      I live in San Francisco, so I’ll be starting out smaller by looking into properties in my home state of Louisiana that I can rehab and hold as LTRs, or possibly STRs.

      My plan is to focus exclusively on BRRRR for now, doing everything by the book—specifically, the David Greene ones. Looking forward to learning from everyone here and to helping each other become better investors!


       Find a good agent in that market that owns investment properties, get 75% rules. You want to keep some and flip some deals to grow your cash. 

      Find good contractors (get 2-3 bids), find a good pm, and you are going to do well. 

      MAKE SURE TO GIVE YOUR GC a SCOPE OF WORK (SOW)!!!


      So wise! I would like to emphasize that as well - it is important to find an agent who understands and owns investments themselves. They'll better know what to look for in prospective investments.

      2Reply
  • Allie McAlister
    Memphis, TN · Member since 2024 · 180 posts · 223 votes
    9mo

    Hi Philip! 

    Welcome to BP and congrats on getting started. While I'm not well versed on the Louisiana real estate market, there are a few starting tips that apply to every market. 

    #1 - you need to get educated on your market. Maybe there's a local podcast and investor meetups that you can be a part of and meet with the like-minded individuals

    #2 - Meet with your banker. They will be able to tell you exactly how much you can do starting out. 

    #3 - Find a local investor-focused Realtor that can connect you with as many sources of properties as possible, including off-market deals from local wholesalers.

    These are some good first steps to get you off to a good start. 

    Best of luck!

    0Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    9mo

    @Philip W Dyer

    hello and welcome. BRRRR is a great strategy. just know that it's not going to provide much "income" in the short term - if done correctly, you'll force a bunch of equity and very little or no cash flow.

    happy to help with any questions you have.

    2Reply
  • Sandra Morrison
    Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 206 posts · 183 votes
    9mo

    @Philip W Dyer

    I volunteer and cohost an online women’s RE investing group for Cincinnati and Columbus for our local chapters of Real Estate Investors Association. I would suggest finding one in the area you want to invest in for vendor recommendations and if it isn’t active, join the very active (nightly meetings on each strategy every month, all month) online Cincinnati and Columbus chapters. (cincinnatireia.com and coreerocks.com). Bigger pockets calculators, forums and podcasts were helpful for research when I began but definitely network to find someone or many persons that can mentor you as you move along this journey. Congratulations on starting!

    1Reply
    • Remington LymanBusiness Member
      Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
      9mo
      Quote from @Sandra Morrison:

      @Philip W Dyer

      I volunteer and cohost an online women’s RE investing group for Cincinnati and Columbus for our local chapters of Real Estate Investors Association. I would suggest finding one in the area you want to invest in for vendor recommendations and if it isn’t active, join the very active (nightly meetings on each strategy every month, all month) online Cincinnati and Columbus chapters. (cincinnatireia.com and coreerocks.com). Bigger pockets calculators, forums and podcasts were helpful for research when I began but definitely network to find someone or many persons that can mentor you as you move along this journey. Congratulations on starting!


       Can I join?

      [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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    • Philip W DyerPro Member
      OP
      New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
      9mo

      Thanks so much, Sandra Morrison! I just found an REIA here and am hoping to go to the first meetup in January. Your area sounds amazingly strong, so I'd love to check those out as well. Thanks so much for the invite and for the advice!

      0Reply
  • Denise SuppleeBusiness Member
    Realtor · Willow Grove, PA · Member since 2017 · 969 posts · 638 votes
    9mo

    Welcome to BiggerPockets, @Philip W Dyer. BRRRR can be a strong approach for building income and equity as you move toward retirement. Focusing on a familiar market like Louisiana while leveraging solid systems and local teams is a smart way to manage risk. Wishing you success as you get started.

    Spark Rental Co-Investing Club577 Reviews
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    2Reply
  • John MorganPro Member
    Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
    9mo

    @Philip W Dyer

    I've got 13 SFR out of state and it's easy to self manage and rehab. Once you find decent boots on the ground you trust, it's easy. I picked a random small town in Arkansas I've never been to and have been self managing them from afar. I've had a few bad handymen along the way, but found a couple good ones I trust to look over and take care of all my properties.

    2Reply
  • Kenneth GarrettPro Member
    Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
    9mo

    @Philip W Dyer

    I started in my real estate journey when I was in my 50's. I've done mostly BRRRR projects in Illinois, Wisconsin, Florida and Georgia with strategies of LTR, MTR and STR. I love that there's know limit on what you can try and you can go at your own speed.

    I self-manage all of my properties. Have learned a ton and continue to learn.

    Feel free to reach out if you have any questions.

    0Reply
    • Cynthia FiorenzaPro Member
      Member since 2024 · 7 posts · 2 votes
      9mo

      @Kenneth Garrett Your comment is encouraging. My husband and I feel late to the investing world. I'm 48 and he is 56. We know we need to make a move and we are not scared to, but we seem stuck on which step is first. It's just nice to see success in real estate investing can still happen later in life. 

      0Reply
  • Sandra Morrison
    Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 206 posts · 183 votes
    9mo

    @Remington Lyman Yes, send me your email/contact info

    2Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks for the suggestions,Abel Curiel! Setting up those keyword alerts now...

    0Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks for the pointers, Alfath Ahmed! Finding a great contractor is one of my biggest concerns, so I'll be sure to follow your advice.

    0Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks for the pointers, Allie McAlister! I actually went to college in Memphis, so that might be an area for me to check out in the future. My next step for now is to follow your advice to talk with a banker so I can see what numbers we'll be working with.

    0Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks, Nicholas L.! Yes, I definitely won't be quitting my day job for the foreseeable future, but I'm hoping to start having a decent portfolio built up in the next 5-7 years. I appreciate the welcome!

    0Reply
    • Marcus Auerbach
      Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
      9mo
      Quote from @Philip W Dyer:

      Thanks, Nicholas L.! Yes, I definitely won't be quitting my day job for the foreseeable future, but I'm hoping to start having a decent portfolio built up in the next 5-7 years. I appreciate the welcome!


      I'm glad to see you have realistic timeframe expectations.

      REI is simple, but not easy.

      David's BRRRR book has (unintentionally) gotten a lot of people in trouble. Simple concepts like "get three estimates" sound super reasonable until you find out that the only contractors willing to spend their day driving arround and putting together free estimates are the ones who factor that time into their price structure. Many won't even call you back. That's just one example. It's a lot easier to meet contractors when you are local. I have met many just at the Home Depot parking lot or my favorite: in new development subdivisions. If you are remote, you have to rely on the internet and most of my best contractors don't even have a digitial footprint.

      You are in a tough market, so you'll probably go OOS. Pick a market you have easy access to and try to spend as much time there possible to narrow that knowledge gap. That will have 3x more impact on your success than finding "the best" market.

      2Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks for the welcome, Denise Supplee! I appreciate your support and wish you the best of success as well!

    0Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks, John Morgan! You're much braver than I am - I can't imagine self-managing remotely like that. Congrats on your successes!

    0Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Sounds like we have a lot of overlapping goals, Kenneth Garrett! Congratulations on having such a diverse portfolio - I hope to get there one day as well!

    0Reply
  • Marc RiceBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
    9mo
    Quote from @Philip W Dyer:

    Hi everyone! My name is Phil Dyer and I just joined Bigger Pockets to help me launch my RE investing career. Since I’m approaching retirement age, my goal is to develop a portfolio that provides supplemental income and equity.

    I live in San Francisco, so I’ll be starting out smaller by looking into properties in my home state of Louisiana that I can rehab and hold as LTRs, or possibly STRs.

    My plan is to focus exclusively on BRRRR for now, doing everything by the book—specifically, the David Greene ones. Looking forward to learning from everyone here and to helping each other become better investors!

    Great start. For your first investment, it's always best to start locally and then look for out-of-state investing when you have more experience
    [email protected]614-363-2787
    Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
    WebsiteView Page
    0Reply
  • David Stephens
    Member since 2025 · 29 posts · 13 votes
    9mo

    Hey @Philip W Dyer, welcome to Bigger Pockets! I'd be happy to be a sounding board for you as you work through ideas/strategy. I do out of state LTR's and in state STRs and then on top of that I'm also a lender. Shoot me a DM if you want to chat!

    0Reply
  • Seth McGatheyBusiness Member
    Real Estate Agent · Milwaukee WI · Member since 2024 · 318 posts · 251 votes
    9mo

    Welcome! Real estate is not just beneficial but actually very fun. So it's never too late to get involved. I like your strategy of going to a less expensive market, especially if you're trying to move relatively quickly. I am no expert with Louisiana, but isn't insurance rough there due to flooding potential? That and the actual potential for real serious damage would be my only concerns. But if you are from there, you would know better. I am from Milwaukee, so I always highly recommend the Midwest where you can get those lower prices but also have a lot less natural disasters to worry about. If you want help in Milwaukee I would be happy to help you out. But wherever you go, best of luck! 

    [email protected]708-297-0996
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    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    9mo
    Quote from @Philip W Dyer:

    Hi everyone! My name is Phil Dyer and I just joined Bigger Pockets to help me launch my RE investing career. Since I’m approaching retirement age, my goal is to develop a portfolio that provides supplemental income and equity.

    I live in San Francisco, so I’ll be starting out smaller by looking into properties in my home state of Louisiana that I can rehab and hold as LTRs, or possibly STRs.

    My plan is to focus exclusively on BRRRR for now, doing everything by the book—specifically, the David Greene ones. Looking forward to learning from everyone here and to helping each other become better investors!


     Welcome to the site!

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
  • Asad Naqvi
    Washington, DC · Member since 2025 · 19 posts · 6 votes
    9mo

    Hey Phillip! Congrats on even having the intentions to invest! That's a huge step alone. I'm in a similar boat but I look forward to seeing your journey on this forum! 

    1Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Hi, Marc Rice! I wish I could start my investing here in San Francisco where I live, but $1000/sq ft is a tad pricey for me at the moment. Since I'm originally from Louisiana, and that market is much more affordable, I'll get my feet wet there and then maybe try it out here once I've developed a good system and network. Besides, now I can deduct trips to visit my Louisiana family. 😁

    0Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks, Marcus Auerbach! Yes, the Bay Area is extremely pricy and mortgages are double the average rent, so it doesn't seem like a great place to start. I'll focus on Louisiana for now and then probably branch out a bit once that starts having success.

    0Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Hi Seth McGathey! Yes, insurance rates in New Orleans have gone way up, but home prices are down as a result and I love visiting there so I'm probably just using investing as an excuse to go more often. Still a win-win for me! 😊

    1Reply
  • Philip W DyerPro Member
    OP
    New to Real Estate · CA · Member since 2025 · 21 posts · 22 votes
    9mo

    Thanks, Asad Naqvi! Congrats on your investing as well!

    0Reply
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