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Updated over 3 years ago on . Most recent reply

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Jacob Davey
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Just getting started.

Jacob Davey
Posted

I've just downloaded my first bigger pockets book and I decided to join this forum per its suggestion. I am just starting my journey in rental investing. As of right now I have a great job and I plan on using this income as the money I need to allow my rental business to grow. I'm thinking about starting an LLC out of Delaware and doing business through that account. Any tips you'd like to share with me?

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Here are some tips, based on what you wrote:

1. Keep your good job, always. Don't try to scale into investing full-time when you have money coming in and a job you like.

2. Don't buy courses or coaching or paid-for mentoring. You can get it all for free here and in local meetup and online Zoom REI meetups.

3. Go slow. Don't rush to buy, learn all you can until you feel comfortable.

4. Find local meetups and find a real, trustworthy local investor-friendly realtor who also invests who will look at properties with you no matter the condition.

5. Don't worry about the LLC now, worry about figuring out what you want to invest in and why.

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