Hello, my name is Daniel Ornelas. I have been a real estate agent for several years now. I am not here to find clients. I am here to move into the next phase of building wealth for my family. My wife and I are committed to purchasing our first long-term investment property within the next six months. I have countless clients buy and sell their properties. Some of my clients were purchasing a second or third rental property. I want to learn how to invest in real estate with confidence. I am grateful for resources like Bigger Pockets and this form for new soon-to-be real estate investors.
Architect · Memphis, TN · Member since 2020 · 259 posts · 144 votes
4y
@Daniel V Ornelas Welcome! Great to have you here. I am not sure which state you are going to invest in but always look into the threads that involve the state/city you and your wife are looking to invest in.
Griffith, IN · Member since 2019 · 114 posts · 56 votes
4y
Daniel,
Welcome to the world of investing! You're in the right spot to learn about investing. I suggest that you start attending REIA,(Real estate investment association), meetings in your area. You can Google them. These meetings can be a valuable source for learning the business and are typically a good source to network with others in the business.
You didn't say where you want to invest. I would suggest you start locally. Long distance investing can be tricky. Even locally, you need a team. You might want to talk to the investors you already know and ask them for referrals on a good solid contractor and handyman crew. You'll need them for doing repairs and rehabbing. Also find yourself a solid property management company. Quality property management is key to your profits.
BP has worksheets you can use to calculate the "numbers" on rentals. I don't know where you're investing, so I can't give you specific numbers, as to where your profit should be. But in Illinois and Indiana, we won't sell an investor a rental, unless it's at 9% or above.
There's so much more to the mix, but I hope this helps. Best of luck to you.
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
4y
Networking and learning from other people is how I learned. Being an agent has helped me because I work with investors and can learn from them. Build a team and have a go to PM, GC, etc
Architect · Memphis, TN · Member since 2020 · 259 posts · 144 votes
4y
@Daniel V Ornelas Welcome! Great to have you here. I am not sure which state you are going to invest in but always look into the threads that involve the state/city you and your wife are looking to invest in.
Hello, my name is Daniel Ornelas. I have been a real estate agent for several years now. I am not here to find clients. I am here to move into the next phase of building wealth for my family. My wife and I are committed to purchasing our first long-term investment property within the next six months. I have countless clients buy and sell their properties. Some of my clients were purchasing a second or third rental property. I want to learn how to invest in real estate with confidence. I am grateful for resources like Bigger Pockets and this form for new soon-to-be real estate investors.
Thats great!
When I got started investing my sophomore year of college, I had $500 to my name, My grandmother lent me $12k for the downpayment on a duplex on OSU campus in Columbus. Over the course of a year my wife and I fixed it up, rented to friends, ate peanut butter and jelly, did everything we could. We then refinanced the property and it has given us $140k in cash back and continually produces $1,800/month in cash flow.
Get started and it will be only good things for your future!
Thank you all for your messages and words of encouragement. I have been singularly focused on being a real estate agent. I did not realize how much there is to learn when venturing into the world of investing in real estate.
I look forward to the process and learning from this community.