Starting fresh to build a portfolio.

Cleveland, Ohio
Buying & Selling Real Estate
3yFollow

Starting fresh to build a portfolio.

Douglas Hardman
Cleveland, OH 路 Member since 2016 路 10 posts 路 7 votes

I recently inherited a decent sum of money. I could let it sit in an investment account and get me 12% a year, but I'm thinking longer term. Was considering taking $150K of it and buying a few rental properties. I've seen a bazillion youtube shorts and fb reels about real estate investing and it was something I looked into years ago but never pulled the trigger on.

I see BiggerPockets offers a "bootcamp" but was wondering which one to go through to get the basics before I pull the trigger. There are also 1,000 people that have similar courses but picking the right one seems daunting. Is there any advice from you all about where I should start?

1Reply
95 views

Most Popular Reply

Basit SiddiqiBusiness Member
Accountant 路 New York, NY 路 Member since 2015 路 8k+ posts 路 3k+ votes
3y

12% is a great return

I personally think real estate is a bit risky for new investors given the high interest rate + high purchase price. 
I would hold off until prices come down or the interest rate drops.

With that said - I would continue to invest whatever you are doing and make that 12%

[email protected]917-280-8544
Basit Siddiqi CPA4.880 Reviews
View Page
2Reply
See this reply in the discussion

22 Replies

Jump to latestLatest
  • Bryan Blankenship
    Investor 路 Cincinnati, OH 路 Member since 2014 路 538 posts 路 432 votes
    3y

    You need to find someone who has done "it" before.  These posts are going to attract people who see you as a big bag of money... you need to find someone you can trust 100%.

    Yes, real estate is a great spot to put your money so you're on the right track so far.  馃檪

    2Reply
  • Nathan A.
    New to Real Estate 路 Sunnyvale CA and Maplewood, NJ 路 Member since 2022 路 257 posts 路 161 votes
    3y

    Before shelling out for a bootcamp, I would put in some time with high-quality introductory material to make sure you're still really excited about what you're getting into after you get an overview of all the steps and work involved. You could attend the webinar with David Greene today for free. Or (I am a book person so I'm partial to this) I'd recommend one of the BiggerPockets books targeted at beginners. Then the bootcamp would be reviewing and putting into action some material you already had a passing familiarity with.

    2Reply
  • Douglas Hardman
    OP
    Cleveland, OH 路 Member since 2016 路 10 posts 路 7 votes
    3y

    Sound advice from both of you. Appreciate the insights. I drive about 16h a week, so I was going to try and find a podcast or an audiobook too.

    0Reply
  • John MorganPro Member
    Rental Property Investor 路 Grand Prairie, TX 路 Member since 2018 路 2k+ posts 路 2k+ votes
    3y

    @Douglas Hardman

    RE is really easy to do. I would buy single family with 20% down and sit on them. Buy something that doesn鈥檛 need any work. Then repeat and buy as many as you can. You鈥檒l earn 80% or more for each house when you factor in 3-5% appreciation in the property, principal pay down on your mortgage and monthly cashflow. Then in 4 or 5 years, do a cash out refi on each one to scale up and buy more rentals with the cash from equity build up. It really snowballs and the cashflow is pretty much all tax free. And it鈥檚 passive. Can鈥檛 beat that! This is what I do and this doesn鈥檛 take much of my time. And don鈥檛 wast your money on a RE course! All your resources are free right here. Just ask others who have been doing this. PM me if you need any help or advice. Good luck!

    2Reply
  • Nathan A.
    New to Real Estate 路 Sunnyvale CA and Maplewood, NJ 路 Member since 2022 路 257 posts 路 161 votes
    3y
    Quote from @Douglas Hardman:

    I was going to try and find a podcast or an audiobook too.

    Try the Real Estate Rookie podcast. It's inspiring. You could also go back in time and listen to some of the episodes of the main BP podcast from a couple years ago, although I've found the mix of guests generally tends to be less beginner-friendly on the current episodes.

    0Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber 路 Pittsburgh 路 Member since 2018 路 6k+ posts 路 5k+ votes
    3y

    @Douglas Hardman

    can you start with a house hack?

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant 路 New York, NY 路 Member since 2015 路 8k+ posts 路 3k+ votes
    3y

    12% is a great return

    I personally think real estate is a bit risky for new investors given the high interest rate + high purchase price. 
    I would hold off until prices come down or the interest rate drops.

    With that said - I would continue to invest whatever you are doing and make that 12%

    [email protected]917-280-8544
    Basit Siddiqi CPA4.880 Reviews
    View Page
    2Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Douglas Hardman:

    I recently inherited a decent sum of money. I could let it sit in an investment account and get me 12% a year, but I'm thinking longer term. Was considering taking $150K of it and buying a few rental properties. I've seen a bazillion youtube shorts and fb reels about real estate investing and it was something I looked into years ago but never pulled the trigger on.

    I see BiggerPockets offers a "bootcamp" but was wondering which one to go through to get the basics before I pull the trigger. There are also 1,000 people that have similar courses but picking the right one seems daunting. Is there any advice from you all about where I should start?


     You are working much too hard. All you need to do is connect with those that provide rentals with double digit net caps ,let them handle all for you 

    0Reply
  • Adriaan Sierra
    Investor 路 Cleveland 路 Member since 2022 路 58 posts 路 41 votes
    3y

    I took a while back a bootcamp. It was helpful.

    Making a decision of how passive you want to be in the endeavor is key. Usually the more hands on you are the better the potential return, though the hassle increases.

    Where are you finding investment accounts that give 12% return on this day and age ;)

    1Reply
  • Henry ClarkPro Member
    Developer 路 Member since 2020 路 4k+ posts 路 4k+ votes
    3y

    Take the 12% investment and don鈥檛 think about Real Estate.  But anything your making 12% on is a real risky investment. 

    1Reply
  • Samuel Simmons
    Member since 2023 路 4 posts 路 1 vote
    3y

    Like others before me said, education is key. I was overly excited to begin with (although I don't have that kind of money to invest), and I am glad I started reading books focused on real estate as well as how "wealthy" people handle funds. This slowed the haste with which I was going, but if it hadn't I would probably have gone for some "deals" that aren't really deals. 

    Things that have been helpful for education: 

    1. Listen to the BP podcasts and free webinars, but start the BP podcasts from the first ones. At first I was mainly confused listening to them, but now I find pieces of gold for my personal goals in each one, especially episode 40 of the main podcast which is 40 quick tips on what/what not to do.

    2. Books/Audio Books. I have been reading more than ever and most of those books are the ones recommended at the end of each podcast. 

    1Reply
  • Account Closed
    Lender 路 Member since 2022 路 74 posts 路 21 votes
    3y

    Hello Congrats on being able to realize your dream,my name is jeffrey abraham and I will mentor you for free and let me know when you can have a zoom meeting and I should you lots of optiion,s.

    0Reply
  • Chris Webb
    Investor 路 Central Virginia 路 Member since 2020 路 394 posts 路 253 votes
    3y

    Hi @Douglas Hardman, I would join a local meetup and try to find someone who has done it before. Go to a few meetings and learn about what ways you want to invest. Be careful of courses and bootcamps, I have heard horror stories. Focus on an area and find an investor in that area to walk you through the first transaction, then repeat it. 

    1Reply
  • Bernard Joseph S.
    Investor 路 NJ 路 Member since 2022 路 155 posts 路 224 votes
    3y

    12% ? Like others have said, where is this? LOL Parking $1mil in there and sitting comfortable sounds like a plan. Point is, if you're getting that much then risk must be accounted for. I'll stick with REI

    0Reply
  • Account Closed
    Lender 路 Member since 2022 路 74 posts 路 21 votes
    3y

    Hello Congrats on being able to realize your dream,my name is jeffrey abraham and I will mentor you for free and let me know when you can have a zoom meeting and I should you lots of optiion.First I offer lots of Power point presentation that basically experience the lending side of investing.I also do live calling with my mentor showing them how to speak with foreclosure homeowners.I also have developed a software that will calulated what an investor make on a rental deal.we offert a lease purchase buy back to investor.The investor is only in the deal for 2 years with these clients and give them an option to purchase the property back

    0Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Douglas Hardman:

    I recently inherited a decent sum of money. I could let it sit in an investment account and get me 12% a year, but I'm thinking longer term. Was considering taking $150K of it and buying a few rental properties. I've seen a bazillion youtube shorts and fb reels about real estate investing and it was something I looked into years ago but never pulled the trigger on.

    I see BiggerPockets offers a "bootcamp" but was wondering which one to go through to get the basics before I pull the trigger. There are also 1,000 people that have similar courses but picking the right one seems daunting. Is there any advice from you all about where I should start?


     Stop watching videos and reading books. Simply connect with those that provide rental properties and allow them to handle all for you. 

    0Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Henry Clark:

    Take the 12% investment and don鈥檛 think about Real Estate.  But anything your making 12% on is a real risky investment. 

     HMM, All my rentals are about 20% net caps  ( cash purchase) for 10 years or so in the Cleveland markets on top of the triple in pricing, I am putting in a tenant tomorrow on my 3/2 for 1400 a month, my all-in price is 60k, taxes 2k, value about 125k. I can provide dozens and dozens of examples.

    Its all about knowledge and your team.

    All the best 

    0Reply
  • Henry ClarkPro Member
    Developer 路 Member since 2020 路 4k+ posts 路 4k+ votes
    3y
    Quote from @Bob S.:
    Quote from @Henry Clark:

    Take the 12% investment and don鈥檛 think about Real Estate.  But anything your making 12% on is a real risky investment


    Hold his hand and mentor him for free till he gets as good as you.   Otherwise if he has never invested and has a 12% stock market investment he is best going that way. . 

    Its what is best for the OP and their experience level  

     HMM, All my rentals are about 20% net caps  ( cash purchase) for 10 years or so in the Cleveland markets on top of the triple in pricing, I am putting in a tenant tomorrow on my 3/2 for 1400 a month, my all-in price is 60k, taxes 2k, value about 125k. I can provide dozens and dozens of examples.

    Its all about knowledge and your team.

    All the best 


    0Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Henry Clark:
    Quote from @Bob S.:
    Quote from @Henry Clark:

    Take the 12% investment and don鈥檛 think about Real Estate.  But anything your making 12% on is a real risky investment


    Hold his hand and mentor him for free till he gets as good as you.   Otherwise if he has never invested and has a 12% stock market investment he is best going that way. . 

    Its what is best for the OP and their experience level  

     HMM, All my rentals are about 20% net caps  ( cash purchase) for 10 years or so in the Cleveland markets on top of the triple in pricing, I am putting in a tenant tomorrow on my 3/2 for 1400 a month, my all-in price is 60k, taxes 2k, value about 125k. I can provide dozens and dozens of examples.

    Its all about knowledge and your team.

    All the best 



     Hello, is there a question it did not come through n my end 

    0Reply
  • Henry ClarkPro Member
    Developer 路 Member since 2020 路 4k+ posts 路 4k+ votes
    3y

    @Bob S.

    From the OP standpoint.

    Hold his hand until he gets as good as you.  Or, I'm recommending he invests in whatever instrument he can get 12%.  

    I can walk him through our deals, and say wow.  But I would still tell him to go invest in his 12% instrument.

    @Douglas Hardman

    You just Inherited the money, starting at zero on the REI spectrum. Don't put it into any REI investment.

    Spend this weekend none stop going through podcasts, posts, books, etc.

    Go to several training sessions.

    If you don't do the above, then you will know without ever investing you shouldn't do an REI investment.

    Develop  system.

    Go over to the Starting Out forum.  Look up the posts Deal 1 , Deal 2, and there will be the next ones.  Ask one of the above folks on this post to mentor you and more importantly help you develop your system.

    1Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Douglas Hardman:

    I recently inherited a decent sum of money. I could let it sit in an investment account and get me 12% a year, but I'm thinking longer term. Was considering taking $150K of it and buying a few rental properties. I've seen a bazillion youtube shorts and fb reels about real estate investing and it was something I looked into years ago but never pulled the trigger on.

    I see BiggerPockets offers a "bootcamp" but was wondering which one to go through to get the basics before I pull the trigger. There are also 1,000 people that have similar courses but picking the right one seems daunting. Is there any advice from you all about where I should start?


     With 150k you can get a nice duplex ( about 105k) with rents of about 800/ 800 in the cleveland markets 

    0Reply
  • David Leggett
    Real Estate Broker 路 Cleveland, OH 路 Member since 2018 路 227 posts 路 133 votes
    3y
    Awesome!  Real estate is a great place to place your money if you can be patient for 5-10 years, but you always have the option of refinancing your properties and using the capital to keep buying more properties.  The best thing you can do is to find an expert realtor in the area who specializes in investment real estate and buy and hold properties in the Cleveland market who can help cut your learning curve drastically and start showing you some options and different opportunities in this market, it's still very lucrative as Bob is saying!
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free