Question on where to start.

24 Replies

My problem is, I don't know where to start or what real estate investing is. Am I just shopping, to buy a place, to rent out or wholesale? Do I need to get a team Attorneys, accountants, get LLCs, and etc b4 getting a property? Is a necessary to get a real estate license? 

Hey Troy,

I'm just at the tip of the iceberg with Real Estate Investing myself. The one thing I can tell you to do is to read the Ultimate Beginners Guide PDF that they provide on here to get a feel in what you want to do and which direction you want to go in. Also, this site gives you access to so many different tools to help you get started. Including blogs, seminars, podcasts, etc. 

@Troy A Washington - @Jeffrey Covington had a great recommendation! Read that guide...then focus and go all in on learning all you can about that specific area. This will give you a good idea of how to start. 

Start networking and attending your local REIA meetings and getting involved.

Good luck!

Ryan

There are so many strategies to take on in the real estate business -- just depends on what fits you best.  Do you like working alone?  In a team?  Is being licensed better or worse?  Do you want to rehab, wholesale, wholetail, buy notes, subject-tos etc?  What fits your personality best and, most importantly, your financial situation best along with your short and long term goals?  

Just a thought, but instead of just reading books -- how about identifying some strategies you think might fit and I'm sure there will be some solid, experienced people on here (or at your local REIA) that will be willing to introduce you to the reality. You'll have a lot more questions and direction after that. Just offer to work to learn and there are many that are willing to do that temporarily with the hope you can go out on your own, help build their business and yours.

In this business, sometimes you just have to learn by doing...maybe a lot of the time.

Best of luck! 

Originally posted by @Jeffrey Covington :

Hey Troy,

I'm just at the tip of the iceberg with Real Estate Investing myself. The one thing I can tell you to do is to read the Ultimate Beginners Guide PDF that they provide on here to get a feel in what you want to do and which direction you want to go in. Also, this site gives you access to so many different tools to help you get started. Including blogs, seminars, podcasts, etc. 

Originally posted by @Jeffrey Covington :

Hey Troy,

I'm just at the tip of the iceberg with Real Estate Investing myself. The one thing I can tell you to do is to read the Ultimate Beginners Guide PDF that they provide on here to get a feel in what you want to do and which direction you want to go in. Also, this site gives you access to so many different tools to help you get started. Including blogs, seminars, podcasts, etc. 

Hello, there, thank you for your comment. I have read the ultimate beginner's guide. I know I'm interested in wholesales and rentals of properties. I'm also very interested in long distance of interesting. I feel like there's something that I'm missing that I don't know just yet. That is why I haven't bought any properties yet because I'm not sure about all the ins and outs of what comes with it. I have however been shopping around just to get a feel of what looking for properties is all about.

Originally posted by @Ryan Whitcher :

@Troy A Washington - @Jeffrey Covington had a great recommendation! Read that guide...then focus and go all in on learning all you can about that specific area. This will give you a good idea of how to start. 

Start networking and attending your local REIA meetings and getting involved.

Good luck!

Ryan

Thank you. I'm certainly doing that now. I'm picking up some books in that area. Thank goodness books are around $15 and $20. There is so much to cover. I can understand why some people get overwhelmed by this.

Originally posted by @Manesh Hardeo :

There are so many strategies to take on in the real estate business -- just depends on what fits you best.  Do you like working alone?  In a team?  Is being licensed better or worse?  Do you want to rehab, wholesale, wholetail, buy notes, subject-tos etc?  What fits your personality best and, most importantly, your financial situation best along with your short and long term goals?  

Just a thought, but instead of just reading books -- how about identifying some strategies you think might fit and I'm sure there will be some solid, experienced people on here (or at your local REIA) that will be willing to introduce you to the reality. You'll have a lot more questions and direction after that. Just offer to work to learn and there are many that are willing to do that temporarily with the hope you can go out on your own, help build their business and yours.

In this business, sometimes you just have to learn by doing...maybe a lot of the time.

Best of luck! 

you know that I never thought about that and that sounds like a fantastic idea. I know for a fact I want to work in a team this time around cuz I'm a lot more and I feel as though I will get more accomplished in a team and working on my own. I will try to figure out a strategy that I can work with but I'm already leaning towards making myself available to work with other investors and learn from them as I work under them. I've been heavily thinking about getting my real estate license but if it's not going to benefit me there's no sense in me doing that. Thank you for the tip I will give her a lot of thought or how to pull this off. This shouldn't take me very long :-)

Yes, that sounds like a good place to start. I'm doing some heavy reading, this weekend. Thanks for the advise. :)

Originally posted by @Alejandro Peralta :

@Troy A Washington I’m just like you, really interested on this, your question brought up some great answers. Where can I find the Guide?

@Troy A Washington you don’t need an llc. You don’t need a team of attorneys. Just a good title company. An accountant isn’t really necessary until you do deals. Find deals, get a good agent, and contractor

@Caleb Heimsoth Ok, I will keep that in mind. I have to look up at a Title company is. I'm new to that. So that are a lot of terms that I don't understand. 

@Troy A Washington the free resources on Bigger pockets have been a huge help to me. Check out Brandon Turner's free webinars he does each week. I will say from my own experience as a newbie myself, I feel like I have learned a lot in the last 8 months, but nothing has been more valuable then going to the local REIA meetings and networking with others and just picking their brain. The investors in my area have been very helpful in answering my questions and helping me get past my paralysis by analysis. Do yourself a favor and find one in your area.

Nick

@Nick Talvy Thank you for the tip. In fact, I'm keeping a look out of a meet, in my area, but none I has arrived...yet. In due time, they will. :)

@Elizabeth Hamilton I think the bigger pockets published, Brandon Turner written, The Book on Rental Property Investing is a great book to start. 

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.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here