Where should I truly start?

Question

Tammy Richards · Answer

Welcome Andrew.  I think to find a mentor, you need to settle a bit more on what your goals are, and what you need to learn.  How do you know what you need help/guidance on otherwise?

There are plenty of folks here to communicate online with, and BP podcasts are great.  If it's in person, local contact you are looking for, in Southern Maine check out Southern Maine Landlords Association - they have a website online, and monthly meetings.

But I urge you to dig down a bit more, and see what your strengths, weaknesses, interests, and risk tolerance is before you look for 1:1 mentoring.

Jordan Decuir · Answer

Definitely start first by getting educated about the various ways to get started, then consider all of the methods against your current resources (cash/credit/network/skill-set/income/assets/debt/time/knowledge/experience/etc...), desires, likes/dislikes, near-term, medium-term and long-term goals, and time that you have to devote to doing REI. For example, if you have little cash, lots of free time, and decent people skills, then maybe educate yourself and get started with wholesaling because those align well with that method.

Brian Turnbough · Answer

That's right. If you are not mechanically inclined though, you should partner with someone that is. The great thing about real estate is you don't even have to Go to a property to make money.

Brian Turnbough · Answer

@Andrew Linscott welcome to the game. Have you read any books on real estate investing? If so, which ones? Like others have said, it's not as easy as it looks on HGTV or DIY. You will need to find what works for you.  You need to ask yourself is why do you want to get into real estate? What do you want to get out of it?

Parker Dresser · Answer

Congrats on heading in the real estate direction!  I am a buy and hold investor in Bangor, Maine.  I agree that education is first including talking to people.  Find out your strengths.  If you are handy then the rehabs are good, but I like the idea of buying a 4 unit building and living in it as a good first purchase.

Steven Gesis · Answer

Hi Andrew! Welcome - read read read BP

Sharon Dittrick · Answer

Hi David,

Welcome aboard.  Just so you know, you and I are in the same boat.  I am just starting out myself.  But I thought it might be helpful to tell you what I have settled on doing.  Warren Buffet said the number one rule is not to lose money.  The number two rule is not to forget rule number one.  That being said, and me being brand new, I decided to play it safe.  I am doing a 1031 exchange with a little house hacking on the side.

I am so excited I barely can concentrate at work.  I wish you success.

Where should I truly start?

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