Newbie Investor

7 Replies

Good Afternoon BP community, 

I am a newbie to wholesaling and I am very confused about where I should start. I have no mentor and I'm also dealing with a little fear of failure. So, my question is what are the most important things when starting out and what helps you get over your fear?

Thank you!

@Zaahid Holloman  

Welcome. Remember Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Couple good reads 

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

Welcome to BP @Zaahid Holloman  

Knowledge will help you get over your fear. You need knowledge in three key areas

  • The strategies - how to find deals and what to do with them once you get them
  • How to evaluate deals - you need to know the hidden costs in real estate
  • You need to know your local market

When you have all three types of knowledge you will have the confidence to go forward. 

Start here The BiggerPockets Free Ultimate Beginner's Guide

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

Your advice is greatly appreciated, Thank you Paul and Ned. Looking forward to expanding my knowledge!

@Zaahid Holloman  Account Closed provides great information to start!  Get a local mentor, attend local real estate investor meetings (yes some cost money) but well worth it.  Continue to use BiggerPockets as a tool, ask questions, and after you learn start answering questions; this is how you learn.  

The hardest part is taking the first step to doing your first one; but you have to learn and we tend to learn better by doing!  In this business you need to take action, network and don't procrastinate - just DO!

Welcome to BiggerPockets and I wish you success! 

Account Closed 

 both have excellent recommendations.  Also, I like to recommend two resources that I found valuable: the podcasts (free on iTunes: biggerpockets)  and "rich dad, poor dad" by Robert Kiyosaki ($7 on Amazon).  Welcome and jump right in!

813‑435‑8414

Thank you Aaron I appreciate you ! 

@Aaron Thivierge

Thank you David, I wish all of you more success in the near future as well!

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