Connect with other investors!

22 Replies

I am a new real estate investor in south Florida. Work as a plumber full time/trader part time. And Wanted to hear stories of other investors and how they started out with their first few rental properties. Cons and pros. 

Thanks in advance guys! 

Save up $15k, buy a turn key rental property out of state. Cash flow $200+/mo.

Do it over and over again. 

Originally posted by @Antoine Martel :

Save up $15k, buy a turn key rental property out of state. Cash flow $200+/mo.

Do it over and over again. 

That’s how you get started?

Originally posted by @Jerry Cinor :
Originally posted by @Antoine Martel:

Save up $15k, buy a turn key rental property out of state. Cash flow $200+/mo.

Do it over and over again. 

That’s how you get started?

 Yes that is how!

Then you have enough passive income to do it full time.

Sound great. But I’m a bit more conservative. I’d want the property in same state as me. At least for starting out and test water first. 

Originally posted by @Antoine Martel :
Originally posted by @Jerry Cinor:
Originally posted by @Antoine Martel:

Save up $15k, buy a turn key rental property out of state. Cash flow $200+/mo.

Do it over and over again. 

That’s how you get started?

 Yes that is how!

Then you have enough passive income to do it full time.

first 5 rentals were wholesale deals my partner and I got stuck with, which ended up actually working out great! Now fast forward a good bit and we own a good amount of rentals personally and also sell turn key to other investors looking to hold high ROI property in their portfolios. Just buy one, see what happens, learn the ropes, and keep on hustling! good luck man!

Welcome! you're in the right place

real estate is EASY!!!

My first house I bought for 54K with $3000 down.

appraised the next year for 115K

My landlord in college was living in his garage, while renting all the rooms in his house. I thought he was nuts. 

After getting my first job, I saved enough money for down payment on my first home and house hacked it ... then  shortly thereafter I bought my first rental, then second ... Haven't stopped.

Jerry,

I don’t know the right way for you but I will tell you how I did it for the first couple.

1. Really know your investing market. I am north of Seattle but my investing area is only 5 or so cities close by.

2. Drive that area. Learn the schools, neighborhoods, people that want to live there.

3. When you see/find a good deal hopefully you will have educated yourself enough on your area to be able to pop and buy it.

My wife and I slept on the floor for a few years while I renovated one of my first properties, as newlyweds. Looking back we went to extreme measures to make it happen

I think buying locally is the only way to go. You just have to really know your market.

I'm a Realtor up in Minnesota and this year I want to make it a goal to secure my first rehab before the year ends. 

@Jerry Cinor  Welcome to BP! You're in the right place.

Save some capital for your DP using FHA loan and house hack to kick-start your journey. 

This way, you have some breathing room to accumulate a little more capital and decide what you'd like to do. 

In addition, your skills as a plumber can save some money on a flip project for instance. 

Hope this helps. Goodluck. Thanks! - Ola 

Real estate networking events are a good way to meet local people and learn.

Thanks brother! 

And keep up the good work.  posted by @Justin Stamper :

first 5 rentals were wholesale deals my partner and I got stuck with, which ended up actually working out great! Now fast forward a good bit and we own a good amount of rentals personally and also sell turn key to other investors looking to hold high ROI property in their portfolios. Just buy one, see what happens, learn the ropes, and keep on hustling! good luck man!

Yes im looking for some events around my area. Thanks Brother! Originally posted by @Ian Walsh :

Real estate networking events are a good way to meet local people and learn.

Yes I do believe my plumbing skills will come very handy. and I have connect with other tradesmen. Thanks Brother! Originally posted by @Ola Dantis :

@Jerry Cinor Welcome to BP! You're in the right place.

Save some capital for your DP using FHA loan and house hack to kick-start your journey. 

This way, you have some breathing room to accumulate a little more capital and decide what you'd like to do. 

In addition, your skills as a plumber can save some money on a flip project for instance. 

Hope this helps. Goodluck. Thanks! - Ola 

Go ahead and conquer 💪🏾Originally posted by @Sammie Yang :

I'm a Realtor up in Minnesota and this year I want to make it a goal to secure my first rehab before the year ends. 

Thanks Jerry! 

Originally posted by @Jerry Cinor :
Go ahead and conquer 💪🏾Originally posted by @Sammie Yang:

I'm a Realtor up in Minnesota and this year I want to make it a goal to secure my first rehab before the year ends. 

Thank you so much for the valuable informations. I will get on that. I know the good side and bad sides of my areas just need to focus more on the schools and entertainment. Hopefully find something close to university where I can rent by rooms. What’s your input on that?

thanks again Brother!Originally posted by @Kai Van Leuven :

Jerry,

I don’t know the right way for you but I will tell you how I did it for the first couple.

1. Really know your investing market. I am north of Seattle but my investing area is only 5 or so cities close by.

2. Drive that area. Learn the schools, neighborhoods, people that want to live there.

3. When you see/find a good deal hopefully you will have educated yourself enough on your area to be able to pop and buy it.

My wife and I slept on the floor for a few years while I renovated one of my first properties, as newlyweds. Looking back we went to extreme measures to make it happen

I think buying locally is the only way to go. You just have to really know your market.

Wow  kudos to your landlord. 💪🏾 And would you mind to clarify on what exactly is house hack? Thanks Brother! And good job on your rentals. #goals Originally posted by @Henri Meli :

My landlord in college was living in his garage, while renting all the rooms in his house. I thought he was nuts. 

After getting my first job, I saved enough money for down payment on my first home and house hacked it ... then  shortly thereafter I bought my first rental, then second ... Haven't stopped.

If you are starting out we always recommend you live within the same state as your investments. 

right. thats ideal for me as well

Thanks brother!
Originally posted by @Tom Valentino :

If you are starting out we always recommend you live within the same state as your investments. 

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

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.