Newbie introduction/educational material recommendations

6 Replies

Hey everyone, hope the day is going well. I'm a newbie to REI, as well as Bigger Pockets and wanted to introduce myself. I live in Roanoke, Virginia and currently work as a CPA. From my brief time looking through the forum I'm aware that time and time again newbies ask how to start and what to do etc., and those questions have been answered in detail in prior posts, so I know I can look that up on my own and don't want to waste everyone's time.

Due to student loans (my wife has a lot and I have a decent amount), I feel like the best way to start out with would be wholesaling. With that being said, I wanted to see if anyone had recommendations for books to read, any particular BP podcasts/blogs, or any other educational material etc. I’ve read Rich Dad Poor Dad and went through the BP ultimate beginners guide. I also just ordered The E-Myth. I certainly need to learn more about marketing and selling, so material related to that would be great. I appreciate everyone’s time and help, thank you!

@Robert Catapano Jr welcome! You’re getting started on a great journey. This is a little dependent on your needs/wants, but i found that the best starting point and catalyst for me was to dive into personal improvement to pay the foundation and balance that out with research on investing (wholesaling in your case)

I started reading a few books like The Slight Edge and The Power of Habit, and they got me into a great routine that served as an excellent baseline for my business to take off as I layered technical knowledge on top of it.

The BP Books are always a great resource as well, and one of your best bets will be networking. Go to meetups, meet wholesalers on here, figure out what people around you are doing. Wholesalers can be a dime a dozen, so if you’re going to start doing it figure out how to differentiate yourself and become the best damn wholesaler people know. Find out from others what works, what doesn’t, where to find deals, where to find buyers, and figure out how to stand out from the crowd.

Best of luck! Looking forward to hearing more about your story

Good evening Robert, I'm in Lexington, just up the road from you, but keeping an eye on Roanoke as the market there has more opportunities.

With regards to your question, I'm a total idiot with investing, but have been actively working to get smarter at it, primarily through the BP podcasts. I started from podcast #1 and have gotten up to around 40, although there are several that I need to listen to while I'm at a desk so I can take notes..I typically listen while I walk to/from work so I'm not getting nearly enough out of them.  The following list is 'curated' specifically from what I thought was most fruitful.

#5: dealing with death - good gouge, take care of it now while you are young~ish. Please take my word for that.

#7: making appraisals work for you - I feel like this was an area that I really took for granted, but it's a pretty key component in most real estate transactions...it doesn't seem to get a lot of press time though

#14: cash flow, creative financing and life - #1, inspiring to hear from someone who took a crappy life situation and is working it. #2, Mr. Leybovich really preaches studying the deal, not just jumping at everything. I'd be in a much better financial position had I heard this podcast four months ago instead of four weeks.

#19: Virtual assistants - this is super intriguing, there are all sorts of things in my life that I'd be willing to pay somebody a few bucks an hour to take care of if it gave me more time to focus on the things that will make me more money.

# 30: Conservative investing - I need to invest aggressively, but this guy makes a great point about identifying risk thresholds, which implies you need to put some work into quantifying your risk with metrics 

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