Advice on good education for first time buyer?

Question

Just starting out trying to be as well informed as I can be before diving into the marketplace.

I am a single 29 year old guy who would like to learn about buying multi family properties. I'm lucky enough to have a good job and currently a cheap rent.  The ultimate goal is to purchase a multi family unit that I can live in and also maintain tenants.

Any suggestions on good (modern) books would be appreciated.

Thanks,

Mike

Paul Timmins · Answer

@Mike McSweeney

Welcome. 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.

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.

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

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

Travis Boyer · Answer

Hi @Mike McSweeney       Start listening to the Podcasts on here,  there are several that interview investors that own multi-family properties and discuss how they got there and what books and education helped them along the way. Get on ITunes and scroll through the topics and see which ones pertain to multi-family properties.  They have great info and are entertaining to listen to.

Cordell M. · Answer

The free 'how to guides' on this site under 'learn' at the top are a great resource!

As far as 'money' and mindset 'Equity Happens' by Robert Helms helped me

'Landlording on Autopilot' by Mike Butler is a good tenant/property management book

Brett K. · Answer

You'll find many of your questions can be answered searching this site.  I'm not a multi family investor but I did come across a 'guru' that does a great job.  Dave Lindahl is his name.  He shares his experience with 'chunkers' and how he transitioned from single-family to multi-family.  He started from nothing and now has an impressive portfolio.  Off the top of my head I can't think of any books.  I know it didn't answer your specific question but I hope it's a good kick off on your education.  Welcome to BP.