I wanna know about how to become an investor in long term or short term rental properties. How to find someone who will give me a good return on my money? What’s a good starting budget? How to become a partner? I know I might all over the place with my questions. Just looking to narrow it down or get a good idea of how this market works.
Wow. Hard to know where to start with that. Why don't you try telling folks a bit of what you're looking for, who you are, perhaps how much in terms of funds you have to work with, your goals, etc? There's not nearly enough context here for anyone to be remotely helpful, in my opinion.
Good heads up. Well I live in Brooklyn New York. Currently renting. I’ve heard of people investing into others that do the BURRR method. They have some cash but not the experience. I know New York City is a horrible place to BURRR because of the high cost of everything. I have about 20k that I would like to put to work. I see people investing in real estate half way across the country. Hope this clears up the air a little more
@Brooklyn Ron first step is to immerse yourself in real estate investing. Hang out in the forums (here on BP or elsewhere), listen to podcasts, read blogs and books, and go to meetings. Next is to take stock of your goals (for example, accumulate wealth for retirement, quit your job, etc) and be able to articulate them clearly. Hope this is helpful! Peter
@Brooklyn Ron great questions, the fundamental basics are your knowledge in real estate and ability to use that to attract the right partners and capital for the deals. Check out the book here “Best Ever Apartment Syndication Book” for more detailed information.
How to become an investor is easy.
How to become a successful investor. now... THAT is the question!
I won;t lay out a plan for this, but I will tell you this.
The one with all the leads is King.
Focus on lead generation strategies THAT WORK, and everything else will fall in place!
Thank you guys for all the great responses. I guess I will have to hang around and really do my digging like Peter said. I guess there’s more than one way to skin a cat (no pun intended PETA)