Providence, RI · Member since 2018 · 29 posts · 409 votes
7y
Having just recently bought my first property, I know for myself what was holding me back was the fear that I would overpay, especially in this type of a market. I would get analysis paralysis and basically talk myself out of every property I looked at.
I would say get out there or partner or coinvest with some. You can take it baby steps and I would try to focus on rentals than flipping.
Roni, Who are you responding too. There are over 3000 comments on this post.
Hello
I was responding to whole group and showing there are different choices out. You do not have jump into a deal by yourself if scared, there is always to do a deal.
I would say get out there or partner or coinvest with some. You can take it baby steps and I would try to focus on rentals than flipping.
Roni, Who are you responding too. There are over 3000 comments on this post.
Hello
I was responding to whole group and showing there are different choices out. You do not have jump into a deal by yourself if scared, there is always to do a deal.
Agreed. Investing is a team sport. I have many partnerships. If you find a deal that is really good, people will fall over themselves to do it with you.
Sacramento, CA · Member since 2019 · 3 posts · 0 votes
7y
@Frank Patalano I am a few months away from turning 18, and I just learned about the real estate niche. I am really interested in real estate investing/ flipping houses but considering I’m in my last few months of highschool, I have no knowledge of where to begin. I have the BIGGER PICTURE idea of how it all works, but the specifics and where to begin is what’s holding me back from starting to learn today!
@Frank Patalano I am a few months away from turning 18, and I just learned about the real estate niche. I am really interested in real estate investing/ flipping houses but considering I’m in my last few months of highschool, I have no knowledge of where to begin. I have the BIGGER PICTURE idea of how it all works, but the specifics and where to begin is what’s holding me back from starting to learn today!
I would start to go to monthly real estate meetings. Over time you can find some flippers in your area. Not the first time that you meet them, but you can offer to help them. Drive by properties, etc.
I'd love to get started tomorrow but I'm on a year contract to Iraq. I don't have any contacts back home to partner up with deals. Just gonna have to wait til I get back stateside to begin :)
I'd love to get started tomorrow but I'm on a year contract to Iraq. I don't have any contacts back home to partner up with deals. Just gonna have to wait til I get back stateside to begin :)
You could start by investing in a crowd fund or a Reit. Besides that just set goals to keep educating yourself. Read 70 minutes a day. Listen to One podcast a day.
Thanks! I've been really digging around the forums. Now that I have this information swirling in my head I've been itching to just quit my job and go back home. Not the smartest thing to do financially right now. Once I do get back home I'm going full time investor.
First post ever! Thank you to whoever created this site
I need someone to sit down with and talk the process through. I've done a lot of reading, listening and watching. Being a martial artist, I realize that piece by piece technique collection doesn't work without someone showing me the path in person. The extra technique only makes sense after the fundamentals are solid.
So how do I find someone in Brooklyn to work with? Where do I start?
Rental Property Investor · Los Angeles, CA · Member since 2019 · 111 posts · 38 votes
7y
@Frank Patalano
I'll tell my thoughts im ready But I'm also becoming an investor from out of state but it's scary when you have to rely on strangers to purchase for you especially when purchasing the1st property
But I'm pushing through already Try to buy my 1st property and someone else beat me to it
Thanks! I've been really digging around the forums. Now that I have this information swirling in my head I've been itching to just quit my job and go back home. Not the smartest thing to do financially right now. Once I do get back home I'm going full time investor.
Can you buy something now? I don't recommend jumping in and becoming a full time investor. I worked for years and built some passive income before I took the leap.
First post ever! Thank you to whoever created this site
I need someone to sit down with and talk the process through. I've done a lot of reading, listening and watching. Being a martial artist, I realize that piece by piece technique collection doesn't work without someone showing me the path in person. The extra technique only makes sense after the fundamentals are solid.
So how do I find someone in Brooklyn to work with? Where do I start?
I asked this question about 6 months ago. The best way to start is to join local networking groups. I'm actually in Brooklyn today at a Real Estate Event. Driving back out today. I'm sure that there are local meetings every day. Give it a month. If you can't find someone, let me know.
I'll tell my thoughts im ready But I'm also becoming an investor from out of state but it's scary when you have to rely on strangers to purchase for you especially when purchasing the1st property
But I'm pushing through already Try to buy my 1st property and someone else beat me to it
Sounds like that you are close. You've picked the market. You are out there looking. Don't give up. This is where the opportunities come.
Rental Property Investor · Los Angeles, CA · Member since 2019 · 111 posts · 38 votes
7y
@Mark Bommarito
Hey mark I'm in the same boat I live at Los Angeles but fortunately I'm looking to move to Florida part time within the next year and leave Los Angeles entirely so that's why I'm looking in that state but I understand which you mean Prices are just prices are going up I wish I woulda done this 5 years ago in Florida but didn't fine BP and I was too scared perhaps a partner would help you afford to buy in a better place
Rental Property Investor · Los Angeles, CA · Member since 2019 · 111 posts · 38 votes
7y
@Vinay H.
Well here's my take on that I'm older than a lot of people on this site so I do have to be careful with over paying cause I don't have a lot of time for equity to build but at the moment I'm really looking at what the cash flow will bring in my pocket and trying to buy stuff that needs a little bit more cosmetic work then major and hope that that will keep me through the downturn should it come
Rental Property Investor · Los Angeles, CA · Member since 2019 · 111 posts · 38 votes
7y
@Pawel Cwierz
No I Did the same thing I bought a unit in a scary part of town so run down I had to evic a tenant just so I could live there for the 1st time but I bought it cause that's what I could afford but what a hell of a deal I made I live out in Los Angeles By now trying to buy my 1st property out of state is really scary but I'm still gonna push through and take a gamble hopefully the people I've met on BP(Anthony kelly) In particular will help me get through the beginning of this
Rental Property Investor · Los Angeles, CA · Member since 2019 · 111 posts · 38 votes
7y
@Jeffrey Grieshop
Well Geoffrey I'm fairly new to BP and I live out in Los Angeles so it's definitely a different game altogether out here but my thoughts on it would be to look at what do people do in your area For a home are the rants holding that they can get a house I think most people up for a house if there are family but if they're a newly married and maybe have to save for a house that would pertain to rent or your ran so low that it's impossible for you to get a cash flow Those are things I would look at and if you have to travel a little bit farther out to get your cash flow You might be able to get more Bang for your buck just a thought Im new too But I'm looking to invest out of state altogether and I like duplexes try plex is 4 plexes and eventually commercial
First post ever! Thank you to whoever created this site
I need someone to sit down with and talk the process through. I've done a lot of reading, listening and watching. Being a martial artist, I realize that piece by piece technique collection doesn't work without someone showing me the path in person. The extra technique only makes sense after the fundamentals are solid.
So how do I find someone in Brooklyn to work with? Where do I start?
I asked this question about 6 months ago. The best way to start is to join local networking groups. I'm actually in Brooklyn today at a Real Estate Event. Driving back out today. I'm sure that there are local meetings every day. Give it a month. If you can't find someone, let me know.
Thank you for that. How do you find out which meetups are legit and which ones are a scam?
Rental Property Investor · Providence, RI · Member since 2018 · 76 posts · 64 votes
7y
What's holding me back? Financing!
A lot of times you'll hear people speaking of how they got multiple FHA loans and whatnot in the past and it's definitely helped them! I've found that not to be the case anymore.
After the first one, it seems that the next one is most likely going to be 25% down. I'm definitely looking for opportunities to owner occupy and make it work, but even those seem rare! I may have found one local bank that may work with me, but I just need to vet it some more!
I definitely need to do more networking and seek out private lending too. I think those will definitely help get things moving! I still think the RI market has great cash flow opportunities for newer investors, but it's just a matter of financing those deals!
First post ever! Thank you to whoever created this site
I need someone to sit down with and talk the process through. I've done a lot of reading, listening and watching. Being a martial artist, I realize that piece by piece technique collection doesn't work without someone showing me the path in person. The extra technique only makes sense after the fundamentals are solid.
So how do I find someone in Brooklyn to work with? Where do I start?
I asked this question about 6 months ago. The best way to start is to join local networking groups. I'm actually in Brooklyn today at a Real Estate Event. Driving back out today. I'm sure that there are local meetings every day. Give it a month. If you can't find someone, let me know.
Thank you for that. How do you find out which meetups are legit and which ones are a scam?
I can't tell until I go.
If you have the time to make one a week, go to one a week.
Free ones are usually not as good as ones that cost $10 or $20 a month. If they are free who is paying? Are they trying to sell you something.
Look for ones that are more educational, not just a money maker for a sponsor. Those drive me nuts.
A lot of times you'll hear people speaking of how they got multiple FHA loans and whatnot in the past and it's definitely helped them! I've found that not to be the case anymore.
After the first one, it seems that the next one is most likely going to be 25% down. I'm definitely looking for opportunities to owner occupy and make it work, but even those seem rare! I may have found one local bank that may work with me, but I just need to vet it some more!
I definitely need to do more networking and seek out private lending too. I think those will definitely help get things moving! I still think the RI market has great cash flow opportunities for newer investors, but it's just a matter of financing those deals!
Most of my money and properties are in the Providence Market.
Send me a direct message. We could chat and discuss investor friendly loans.
Chicago, IL · Member since 2019 · 22 posts · 12 votes
7y
@Frank Patalano
Great question Frank!
Working on fixing up my finances. Started researching in real estate investing just a few months ago, where I came across this amazing site (Biggerpockets).So, in the meantime I am educating myself as much as I can: immersing myself in books, podcast, attending local REIA meetings and as well reviewing great posts like these on forums. As I continue to look at all the types of real estate investing, buy and hold (likely BRRRR) has peak the most interest for me to start out. I plan to "house-hack" my first real estate investment (enjoy the benefits of a lower down on a residential loan) and get first-hand experience on being a landlord and managing a property. After a year or so living at the property, I would want to seek out for a second multi-family property and likely "house-hack" as well. After obtaining a few investments and creating this passive, long-term income, I plan on continuing my success with investing in fix and flip as well.