Starting Out and Self Educating

10 Replies

Hey,

I am 22 years old and just recently moved to Southern California. For many reasons, I have developed the desire to invest in real estate. Being new to California and real estate, I was looking for advice or information to check out that may be viewed as overlooked or not as known sources regarding real estate in general and real estate in California. I have dove into a lot of the "Best Sellers" but I like to read and learn from sources and as well-rounded as a new self-educating investor can be.

Thanks for your time...

Welcome to BP! You have one of the best resources for real. Estate investment with BP. Use the search tool,at the top of the page, check out the forums and listen to podcasts. Enjoy the journey my friend..

Welcome to BP @Derek Kraack !

Setting up your desired Keywords was the biggest help for me to learn several different things in just a few short days. Feel free to PM me if you every have any questions, I am a SoCal dude myself!

Derek Kraack I live in San Jose and got my start in real estate investing back in October. BP will be your biggest resource moving forward. Use it to network and learn. Find a few mentors and pick there Brains. Lastly I would suggest you look into out of State investing and using a turnkey company to help you. California is an expensive market to start in. I invest in Indianapolis and Birmingham. Good luck to you!

Thanks everyone for the insight and help! I am looking forward to learning as much as I can. @JoelNoel and @ChaseMaher I would love to connect with you to learn more about what you do and how you go about your business in California and going outside of California.

Welcome @Derek Kraack !

Of course, you need to read The Ultimate Beginners Guide to REI here on BP

If you haven’t already, please read/listen to these books ASAP!

Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The 10X Rule

The E-Myth

The 4 Hour Work Week

BiggerPocketsPodCast

Wholesaling101 You Tube Channel

Kent Clothier – You Tube Memphs Invest channel

I am a newbie but I have gone through quite a bit of the recommended reads/ listens. Everyone is going to tell you to read rich dad poor dad. It is a great book but really its just motivational. E myth is also great but I don't think it is essential to start. I would recommend reading brandon's book on low or no money down first and then learn how to evaluate a property. My logic is you want to know what financing options are available to you then what is a good buy vs a bad buy. If you are looking to buy something in good shape to rent; I would then recommend you look into the Tennant screening articles on the site. If you are looking to flip or buy a property that needs work then go with J. Scott's books. Podcasts are great for the daily commute. I am not a big fan of many older RE books that were written back in the days where you could get large loans for having a pulse. I hope that is helpful.

@Derek Kraack , welcome to BP!  There are a lot of great resources and people on this site. You can learn so much from the forums as well. Network as much as possible. 

@Derek Kraack

Welcome. Take a good look at student housing see below.

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 rehabbers (cash buyers). Find them through Google and meetup.com

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

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 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you