Passive investing and acquiring information as a newbie

4 Replies

Hey guys, this is my first post! Just wanted to see what y'all thought on the best way to start investing and gathering information in a brand new market. I just moved to the Philadelphia area, have some capital,  but definitely at the very beginning stages of learning. Involved in the medical field so my whole life, my education has been focused on sciences, so very limited exposure to the business world unfortunately. Have started to go through the blog posts on here and the podcasts/websites, but definitely feels overwhelming at times. Anyone have any specific tips on what are some of the core principles, and where to find them, you need to establish before jumping in? Thanks guys love reading the forum so much!

@Ronak Bhimani

Welcome to BP and Philadelphia.

Start with understanding what type of real estate investor you want to be. Do you want to start with house hacking? Maybe wholesaling? Or you want to dive in long term rentals? Also make sure to have a good agent for your first deal that will explain EVERY step. 

There is a lot of possibilities and different options. Feel free to reach out if you have any specific questions about Philadelphia. I invest in multifamily properties in Philly. 

@Ronak Bhimani Welcome to BP! 

I was in the same boat as you were. It kinda seems overwhelming at first but stick around this forum. 

1.) Just by sticking around this forum, you learn a whole bunch trust me!

2.) I would also suggest you to look at bigger pocket youtube videos on analyzing rentals. Even if thats not what you want to do, it still gives you very important business terminology. 

3.) im not sure if you have twitter, but if you do, follow bigger pockets twitter. They regularly post very helpful blogs. 

4.) listen to podcasts. There are over 200+ podcasts giving you guides and interviews from successful investors. The podcasts are so simple to understand too and they are very helpful not just for newbies but for us too. 

5.) going back to number 1, try to be active in the forum. Ask questions, post opinions or anything - it shows your worth. Learn directly from seasoned investors. This is the best platform. 

6.) Not really a tip, but if youre active here you’d probably find someone who'd potentially mentor you, or partner you. 

Good luck! 

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