Suggestions for starting out in real estate investments?

5 Replies

Background: What initially got me interested in real estate investments was reading Rich Dad Poor Dad by Robert Kiyosaki. After doing some google searches and reading a few blogs I stumbled across Bigger Pockets and decided to try and get some advice from the people that're doing it themselves.

What's the next course of study? Suggested books? Webinar? etc.

Thanks

- Rick M.

Welcome Rick. The BP Podcasts are your next step. You will get an understanding for each type of REI and hear about a slew of RE and Business Books.

Welcome to BP. This site is great. I also would recommend the podcasts. As for books, try ABC of Real Estate Investing. It could give you good foundation. There are so many different ways to get into REI, select one and stay focused.

Good luck.

Hi Richard! Welcome to BiggerPockets. You stumbled on the right place. I spent almost a year reading, going to local meetups, and talking to those in the business. You could start down so many different paths. First, you really need to nail down what type of investing fits your personality or preference-good luck! I still do not know what I want to do. Ha! Wholesaling is pretty inexpensive to get started, but will require more time if you have little or no money.

Finding a REAL mentor catapulted me from wanting to be an investor to actually doing deals. A true mentor will not make you pay for this! They will be someone who has a heart of a teacher and wants to help. The only catch is-you have to bring something to the table. For instance, if you are broke you can use your time. If you have money you hang onto it until you learn what you should do. I just started anyway I knew how and blew a bunch of money in the wrong areas. Buying websites that were worthless, and paying for things that did NOT bring me deals. Start with the Ultimate Beginner's Guide to Real Estate Investing Book and there is a podcast with the same name. I listen to a podcast every morning while getting ready in the morning. This has really helped me in learning some great ways of investing.

I hope this is a start? Start talking to people in your area and here on this site. Most of us will gladly try to point you in the right direction. You just have to ask! Good luck!

P.S. "Luck favors those who take action!"

@Richard Merckling read everything on BP and listen to the podcasts. The Real Estate Guys radio show is great. Rich Dad advisors have a ton of books on REI also. Find local REI groups on meetup or BP. Take experienced investors to lunch/coffee and get to know them. Ditto with other local professionals: insurance agents, brokers, etc.

Then...take the plunge. Find a great deal and post it here, on CL, etc. This last point is the most important. Don't just be a hearer of the words, as it were. Be a DOER! You will succeed. Fail forward. :)

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