The more I know the more I realize I don't have a clue.

Starting Out
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The more I know the more I realize I don't have a clue.

Ian Hamrick
Investor · San Antonio, TX · Member since 2018 · 21 posts · 4 votes

Hello everyone

First off I am so very thankful for finding bigger pockets.

Most of my life I have moved around due to the military and never really settled down anywhere. Now I am in a position where I am somewhat settled and decided to look at real estate to build a passive income stream and be able to walk away from working full time. Before I found bigger pockets I felt so very lost and was in danger of making an ugly deal.

Since bigger pockets, I have started to put money aside to build capital for my first investment. In the meantime, I have been developing my own "education plan" per say. There is a TON of information and it's easy for me to be overloaded with info.   With that in mind, I have been going through the "ultimate beginners guide" taking notes, reading some of the referenced blogs and about to buy a series of books.

With all that said...

Is this a good education plan? 

Should I go through the guide from A to Z before I start analyzing deals? 

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Greg ScottPro Member
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
8y

Ian:

You are lucky to be in Texas.  I fly down several times a year to attend events with Lifestyles Unlimited to hone my real estate investing skills.  They are in your backyard.   They have a massive office in Houston and Dallas.  I've never been to the Austin office, but know it exists.   In my opinion, it is the best bang for the buck in buy & hold real estate education. 

Google them.

They have an Expo coming up in mid April in Houston.  Literally thousands of people attend each year.  My wife and I, plus my son and father-in-law are flying in to learn and meet other investors.   You could check them out there.

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  • Greg ScottPro Member
    Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
    8y

    Ian:

    You are lucky to be in Texas.  I fly down several times a year to attend events with Lifestyles Unlimited to hone my real estate investing skills.  They are in your backyard.   They have a massive office in Houston and Dallas.  I've never been to the Austin office, but know it exists.   In my opinion, it is the best bang for the buck in buy & hold real estate education. 

    Google them.

    They have an Expo coming up in mid April in Houston.  Literally thousands of people attend each year.  My wife and I, plus my son and father-in-law are flying in to learn and meet other investors.   You could check them out there.

    1Reply
  • David IvyPro Member
    Real Estate Broker · Austin, TX · Member since 2016 · 352 posts · 699 votes
    8y

    @Ian Hamrick

    I'm a firm believer that all the real estate investment education you need to get started (and more) can be accessed basically for free online (e.g., BiggerPockets) and through getting serious about consistently and systematically networking with other active investors and real estate professionals in your area one-on-one and through meet-ups. Almost any investor in the Austin area, including me, will happily grab lunch and tell you more-or-less exactly what it is we're doing and how we're doing it. That's a quick way to finding out what's working in your market and find a path that's attractive to you. To put it crudely, you can find someone to "copy." It's even better if you can find a way to provide value to that person.

    Getting very specific in fleshing that out your goal, "to build a passive income stream and be able to walk away from working full time," will help cut through the clutter and avoid being overloaded with so much information that's available.

    1Reply
  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    8y
    Ian Hamrick I would also add to listen to the podcasts. Very informative. I’m a year into actual investing and about 2 years total if you include the education phase and I still don’t know everything. The key is to always be learning and in your case I would also focus on learning about one strategy to start.
    1Reply
  • Account Closed
    Investment Consultant/ Wholesaler · Austin, TX · Member since 2018 · 59 posts · 26 votes
    8y

    @Ian Hamrick,

    First of all, thank you for your service! As I am sure you have seen in your travels, there is no place to invest quite like Austin. Having grown up here myself, I've watched it boom over the years- providing the ideal spot for Real Estate investors from all over the country!  I currently work on investment side myself and would love to be a resource for you! Here are a few questions to ask yourself in making clear goals for your investments: 

    How much would you like your all in cost to be? Do you have a specific strategy in what you would like to do with these investment properties?  What area best fits my investment goals and numbers?

    From there, I recommend connecting with investors in the area to see what works for them and why they chose the strategy that they did! I would be happy to connect and answer any questions you might have while getting started in your investment career! 

    0Reply
  • Ian Hamrick
    OP
    Investor · San Antonio, TX · Member since 2018 · 21 posts · 4 votes
    8y

    @Greg Scott Thanks for the info I will make sure to look that company up.

    @David Ivy I would love the chance to sit down with you and discuss the Austin area.

    @Caleb Heimsoth Which podcast do you recommend?

    I am finding a lot through bigger pockets that I am going to start going through a few of them.

    0Reply
  • Michael Pearse
    Rental Property Investor · Kansas City, MO · Member since 2016 · 112 posts · 75 votes
    8y

    @Ian Hamrick

    The best way to learn is continue to actively read books and forums on real estate. Look into your local real estate socials and start attending. Tell people what you are looking to learn and what you have to offer in return. If people see that you are committed, they are more likely to help you succeed. Be consistent and take action. Best of luck, and welcome to BP. 

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y
    Originally posted by @Caleb Heimsoth:

    Ian Hamrick I would also add to listen to the podcasts. Very informative. I’m a year into actual investing and about 2 years total if you include the education phase and I still don’t know everything.

    The key is to always be learning and in your case I would also focus on learning about one strategy to start.

     I am 44 years into it and still learn something new either daily or at the very least weekly.. 

    defining a niche and then following through is a good way to start.

    and of course if you found BP that generally is buy and hold rentals .. 

    and for sure that is the easiest and simplest thing in real estate investing to understand.. 

    its a long long game though so take your time.. it takes time to build wealth in real estate if your doing the buy hold model.

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    1Reply
  • Nate R.
    Real Estate Investor · Austin, TX · Member since 2015 · 219 posts · 234 votes
    8y
    Originally posted by @Greg Scott:

    Ian:

    You are lucky to be in Texas.  I fly down several times a year to attend events with Lifestyles Unlimited to hone my real estate investing skills.  They are in your backyard.   They have a massive office in Houston and Dallas.  I've never been to the Austin office, but know it exists.   In my opinion, it is the best bang for the buck in buy & hold real estate education. 

    Google them.

    They have an Expo coming up in mid April in Houston.  Literally thousands of people attend each year.  My wife and I, plus my son and father-in-law are flying in to learn and meet other investors.   You could check them out there.

    I second the LU plug. 

    See you at the Expo, Greg!

    0Reply
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