New to Real Estate - Where to Start???

Question

Hey guys! So I signed up for BP a year ago but allowed myself to get distracted and I took my eyes off the ball for several months. I'm sort of just looking for some people to make acquaintances with because I felt alone last time, and that may be one of the reasons I didn't stick with it. Anyways, I'm currently working as an electrical apprentice in MA, have a background in maintenance in a senior living facility, and have a Bachelor's degree in Finance. I was also a former real estate agent - and this is all since 2019. So as you can see I've been bouncing around a lot and haven't really found anything that I can call 'home' prior to starting as an elec. apprentice.

I'm back on BP because I really want to hunker down and focus on one thing. My interest has jumped from strategy to strategy (Rentals, Flipping, Syndication, etc.) I already got a little overwhelmed being back on the site after so long because I've missed so much. Anyways, hello everyone! I hope to make some friends and feel at home here :)

Derek Morrison · Answer

@Daniel Haberkost Thanks for the response, Daniel! I read that book quite some time ago but I may be due for a refresher read. I'm glad to know that I'm not alone in jumping around. And house hacking seems to be a fantastic idea. As I'm looking to move out of my mom's house within the next 6 months, that will be a great direction to go in. Thanks again, Daniel!

Derek Morrison · Answer

@Ethan Perry thanks for the tip man! I'll check out some stuff by them. I know Craig is a house hacking expert!

Ethan Perry · Answer

@Derek Morrison. Best advice would be to educate yourself through reading books/YouTube.  Read Books by Robert kiyosaki, Brandon turner, Craig Curlop, etc.  Then buy something!  Your first deal doesn’t have to be a home run.  It will be a learning experience and will be a building block for future real estate success down the road.  Best of luck man!

Derek Morrison · Answer

Hey Djovanny! What part of NY are you from? My family and I were upstate last month on Lake George. Love going there and I was actually trying to think how to make a seasonal vacation rental work up there

Djovanny Jean-Baptiste Jr Therasse · Answer

Hello Derek Morrison. My name is Djovanny Therasse and I am from New York. I am new to this as well and I am kind of lost but You are welcome here. Maybe we can be friends.

Daniel Haberkost · Answer

@Derek Morrison I understand your dilemma as I get bored very easily as well and always want to jump around. This tends to be a problem among most entrepreneurs I know.

You need to pick a strategy, focus on it, ignore everything else, and make it happen. I suggest house hacking. There's little downside risk to the strategy and tremendous upside. It gets your feet wet in the business and puts you in a very strong financial position (i.e. making it easier to get deal #2).

I would read The One Thing if you haven't already. That helps to drive the point home.

If you keep jumping around without sticking with something long enough to be successful you're never going to get anywhere. Make your decision on what you're going to do and do it. Ignore all else.

-Dan