New to the game of REI

10 Replies

Hey everyone I'm new to the Bigger Pockets team and excited to be a part of it! I'm a new real estate investor and am hoping to buy my first property by the end of the year. I'm currently serving in the military and am stationed in Alaska. As far as location goes, I was thinking about starting in the Fairbanks or Anchorage area. If you or anyone you know is plugged into these areas please let me know! I'd also appreciate any tips or words of advice since I'm still getting educated. I've begun listening to Brandon Turner's BRRR as well as David Green's long distance investing book. I look forward to meeting you, cheers!

Welcome @Julien Okey !   There's a good meetup in Fairbanks that would be a good place for you to get started while you're there.   It's led by @Tim Illguth.  Many knowledgeable people and a few other military members involved.  I would not suggest starting out by investing in Anchorage while you're living in Fairbanks unless you travel back and forth regularly.   If you PM me I'll add you to the signal chat for the group.

Hey @Allen S. , thanks for the comment! Awesome, I’ll get in touch with Tim. Why don’t you suggest doing Anchorage? I’m a little hesitant out here in Fairbanks due to the cold weather.

@Julien Okey Anchorage and Fairbanks are different markets, not better or worse, just different. I think as a new investor you will benefit most from the local meetups and starting to look locally. Unless you're planning to start out with NNN or will be in Anchorage regularly it will be more practical to start out looking for your first investment in Fairbanks.

@Julien Okey

I would recommend starting to network. @Allen S.  was spot on with the meet-up advice. One of the fastest ways to shorten the learning curve with REI is networking. There are a lot of military investors out there too. Do not hesitate to reach out if you need anything! 

Sincerely, 

@Julien Okey Welcome! You can also check for local networking events, here : https://www.biggerpockets.com/... . I got started investing with both those books. Living in Phoenix, I invested in North Carolina with 4 brrr's initially. It can be done! Education and networking are the way to go starting out.

@Julien Okey Welcome to the addicting world of real estate! There are lots of fellow military real estate investors on these forums and we all like seeing each other crush it! You're on the right track for sure (networking and education) and we all look forward to seeing you succeed. Don't hesitate to reach out. Best of luck!

Welcome. Biggest advice is to make sure the numbers work to include funds for capex, repairs, management, and vacancy. I see alot of people who don't factor these into their budget and when stuff breaks or the property manager says I need more money they go from a positive asset to a negative. Good luck and if you need anything just PM.