Hello, my name is Alex, and I am a fresh wanna be real estate investor from the start. I was wondering if I could get some advice on where to start. I have roughly 40k saved up and would like to put it towards multi family investing. I would also like to do my first business deal with somebody so I can learn an gain experience from that person. I dont really know where to start and what to do?
Property Manager · Cincinnati, OH · Member since 2019 · 131 posts · 237 votes
6y
Hi @Alex Borczyk Congrats on joining BiggerPockets! I would personally just try to learn as much as I can right out of the gates. There are a lot of resources here on BiggerPockets that are a great starting point. I would recommend listening to the BiggerPockets podcast, reading the guides and blogs, or even checking out some of the books they offer there.
Property Manager · Cincinnati, OH · Member since 2019 · 131 posts · 237 votes
6y
Hi @Alex Borczyk Congrats on joining BiggerPockets! I would personally just try to learn as much as I can right out of the gates. There are a lot of resources here on BiggerPockets that are a great starting point. I would recommend listening to the BiggerPockets podcast, reading the guides and blogs, or even checking out some of the books they offer there.
Hello, my name is Alex, and I am a fresh wanna be real estate investor from the start. I was wondering if I could get some advice on where to start. I have roughly 40k saved up and would like to put it towards multi family investing. I would also like to do my first business deal with somebody so I can learn an gain experience from that person. I dont really know where to start and what to do?
The first step is to thoroughly educate on the space and the markets. Multifamily has a wide range of property sizes, types, class etc. You want to learn the language and the metrics. One option is to partner with an experienced operator or you could invest passively in a deal or two depending on the sponsors minimums. This is a slower way to grow your capital but you can learn about how syndications work and decide what aspects of the business appeal to yup strengths and resources.
Rental Property Investor · Los Angeles, CA · Member since 2017 · 154 posts · 24 votes
6y
@Alex Borczyk - just as an fyi - for passive multi-family investing, I've found in general the minimums tend to be around $50K (at least for the handful of reputable syndicators I've looked at investing with).
As others mentioned, review various types of RE investing available. Decide which one resonates with you the most. Study all about it while at the same time growing your funds. Also networking with like-minded RE investors in the space of your interest via meetups and conferences (most are virtual for now but plenty available).
Lender · Nationwide · Member since 2018 · 571 posts · 310 votes
6y
Hi Alex, welcome. It's good that you're valuing relationships and choosing an asset class this early, that's a step ahead the curve already. Do you want to be an active investor and make real estate a full-time career, or a passive investor who receives passive income? What kind of people would you like to learn from for your first deal?
Investor · Carmel, IN · Member since 2024 · 55 posts · 22 votes
2y
Hey @Alex Borczyk, welcome to BP! Reading and becoming educated in the industry is a great first step. There are a plethora of resources out there to take advantage of free of charge, so be sure to use all of them to your advantage. Also, getting your RE license / getting a job in the industry before investing can give you the necessary education/experience to become a successful RE investor as well.
Investor / Mentor / Contractor · Arcadia, CA Buying Out of State · Member since 2015 · 654 posts · 622 votes
2y
Where are you located? I'm asking to know if your funds can get you into a deal in your area or you might need to go outside your area. You might want to look into spending some of those funds on a program to learn more about apartment investing. I have spent a lot of education and it has paid off many times over. We can discuss more. Please don't listen to those that will tell you all you need to do is learn strategies here on BP. I love BP for many things, but it can't get you to that level...
For starters, you are in the right place to get the education ball going.
Reading, watching youtube videos etc. is great, however nothing beats meeting and being around active investors. Lookup local investor groups in your area, reach out to people in your area that are active on BP, and try to connect. Real estate is largely a people business, so no better way to start then to meet people that are already where you want to be. Another great resource is Linkedin, reach out to players in your area and offer to take them out to coffee or lunch. Good luck!