Another New Guy Here!
Hey all!
I've been a BP member for a couple years but haven't really been active. Looking to actually start taking action in real estate investing. So far I have just been soaking up information, however I am still a newbie. I am hoping to leverage this community and resources to secure my first deal. Any insights or tidbits that you all can offer will be greatly appreciated.
What I am Looking for:
Buy and Hold properties to start out. Markets are pretty much open, so any suggestions would be helpful(I saw a post about market analysis, going to jump into that after I post this). I have been looking at properties in Idaho as well as analyzing deals near me to get reps in.
Eventually get into larger multi family properties once I get a few SFH under my belt.
Can't wait until I am able to start contributing to this forum. If there is anything I can do to help you guys out or vice-versa, Lets connect!
-Kai
Quote from @Ikaika Genegabus:Hi Kai you (haiku)
Hey all!
I've been a BP member for a couple years but haven't really been active. Looking to actually start taking action in real estate investing. So far I have just been soaking up information, however I am still a newbie. I am hoping to leverage this community and resources to secure my first deal. Any insights or tidbits that you all can offer will be greatly appreciated.
What I am Looking for:
Buy and Hold properties to start out. Markets are pretty much open, so any suggestions would be helpful(I saw a post about market analysis, going to jump into that after I post this). I have been looking at properties in Idaho as well as analyzing deals near me to get reps in.
Eventually get into larger multi family properties once I get a few SFH under my belt.
Can't wait until I am able to start contributing to this forum. If there is anything I can do to help you guys out or vice-versa, Lets connect!
-Kai
can start with
Winter fights to stay.
Sweet Spring always wins her way.
Flowers bloomed today!
Phoenix is still a good place to invest but it takes a bit of digging to find deals.
Are you set up to buy now or just getting started and need a direction to a loan officer to put the financing together?
Hey Ikaika, welcome to BiggerPockets! This is for sure a great platform for networking. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning. Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. Best wishes to your real estate journey!
Hi Kai,
Welcome! It's great to hear that you're taking active steps towards your real estate investing goals. Buy and hold properties can be a great starting point, especially if you're looking to build a stable and passive income stream.
Here are a few tips to help you get started:
-Know your numbers: Make sure you understand the financials of each property you're interested in, including the purchase price, operating expenses, rental income, and expected return on investment (ROI).
-Research the market: Get to know the local real estate market and the demand for rental properties in the area. This will help you make informed investment decisions and identify potential deals.
-Network with local professionals: Building relationships with real estate agents, contractors, and property managers can be valuable for finding deals, managing properties, and gaining insights into the local market.
-Diversify your portfolio: Consider investing in different types of properties and markets to reduce your risk and increase your potential return.
-Keep learning: Real estate investing is a continuous learning process. Stay informed by reading books, attending seminars, and engaging in discussions with other investors in this community.
Good luck with your real estate investing journey! If there's anything I can help with, feel free to reach out.
Quote from @Mike Hern:
Quote from @Ikaika Genegabus:Hi Kai you (haiku)
Hey all!
I've been a BP member for a couple years but haven't really been active. Looking to actually start taking action in real estate investing. So far I have just been soaking up information, however I am still a newbie. I am hoping to leverage this community and resources to secure my first deal. Any insights or tidbits that you all can offer will be greatly appreciated.
What I am Looking for:
Buy and Hold properties to start out. Markets are pretty much open, so any suggestions would be helpful(I saw a post about market analysis, going to jump into that after I post this). I have been looking at properties in Idaho as well as analyzing deals near me to get reps in.
Eventually get into larger multi family properties once I get a few SFH under my belt.
Can't wait until I am able to start contributing to this forum. If there is anything I can do to help you guys out or vice-versa, Lets connect!
-Kai
can start with
Winter fights to stay.
Sweet Spring always wins her way.
Flowers bloomed today!
Phoenix is still a good place to invest but it takes a bit of digging to find deals.
Are you set up to buy now or just getting started and need a direction to a loan officer to put the financing together?
Yeah, Hoping to stumble across those good deals when I'm practicing running the numbers.
I am not set up in the sense of getting the loan process started, but I have reached out to a few lenders to get an understanding of their offerings. Trying to get some of those conversations started for when I am ready.
Quote from @Steven Foster Wilson:
Hey Ikaika, welcome to BiggerPockets! This is for sure a great platform for networking. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning. Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. Best wishes to your real estate journey!
Thanks Steven! I am hoping to leverage BP for all of the networking benefits, as well as the massive amount of knowledge. "Rich dad, Poor dad" is a good book, One of the first books that got me started down this path. I recently found the Real Estate Rookie Podcast, Ill have to checkout the BiggerPockets one after. I have also started working with a mentor to help minimize the cruft and working towards closing my first deal within a few months.
Quote from @Jason Bowden:Jason! Thank you for the tips! The numbers always trip me up. I always find my self tweaking the numbers so that it seems like a good deal. Then overcorrecting to make it a bad deal. Seems really easy with the Calculators on here and the slidebar to adjust numbers lol.
Hi Kai,
Welcome! It's great to hear that you're taking active steps towards your real estate investing goals. Buy and hold properties can be a great starting point, especially if you're looking to build a stable and passive income stream.
Here are a few tips to help you get started:
-Know your numbers: Make sure you understand the financials of each property you're interested in, including the purchase price, operating expenses, rental income, and expected return on investment (ROI).
-Research the market: Get to know the local real estate market and the demand for rental properties in the area. This will help you make informed investment decisions and identify potential deals.
-Network with local professionals: Building relationships with real estate agents, contractors, and property managers can be valuable for finding deals, managing properties, and gaining insights into the local market.
-Diversify your portfolio: Consider investing in different types of properties and markets to reduce your risk and increase your potential return.
-Keep learning: Real estate investing is a continuous learning process. Stay informed by reading books, attending seminars, and engaging in discussions with other investors in this community.
Good luck with your real estate investing journey! If there's anything I can help with, feel free to reach out.
Market Research is the part that I am struggling with. So thank you for those tips too.
I'll definitely reach out if I have any questions!!! Thanks again.
Side note:
Is there a way to quote multiple people so I am not creating multiple posts to respond?
Quote from @Ikaika Genegabus:
Quote from @Steven Foster Wilson:
Hey Ikaika, welcome to BiggerPockets! This is for sure a great platform for networking. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning. Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. Best wishes to your real estate journey!
Thanks Steven! I am hoping to leverage BP for all of the networking benefits, as well as the massive amount of knowledge. "Rich dad, Poor dad" is a good book, One of the first books that got me started down this path. I recently found the Real Estate Rookie Podcast, Ill have to checkout the BiggerPockets one after. I have also started working with a mentor to help minimize the cruft and working towards closing my first deal within a few months.
These are some additions to things you could read. My wife and I love the Million Dollar RE agent by Gary Keller, Million dollar investor by Gary Keller, and The Abcs of Commercial Real Estate investing by Ken McElroy. These are successful guides that will be able to steer you in a successful real estate business.
Quote from @Steven Foster Wilson:
Quote from @Ikaika Genegabus:
Quote from @Steven Foster Wilson:
Hey Ikaika, welcome to BiggerPockets! This is for sure a great platform for networking. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning. Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. Best wishes to your real estate journey!
Thanks Steven! I am hoping to leverage BP for all of the networking benefits, as well as the massive amount of knowledge. "Rich dad, Poor dad" is a good book, One of the first books that got me started down this path. I recently found the Real Estate Rookie Podcast, Ill have to checkout the BiggerPockets one after. I have also started working with a mentor to help minimize the cruft and working towards closing my first deal within a few months.
These are some additions to things you could read. My wife and I love the Million Dollar RE agent by Gary Keller, Million dollar investor by Gary Keller, and The Abcs of Commercial Real Estate investing by Ken McElroy. These are successful guides that will be able to steer you in a successful real estate business.
Thanks, Ill add those to the list!!
Where in Idaho have you been looking? I'll add that you don't have to start with SFR to get going. I bought a 4 plex as my first property 5 years ago. Got to three and then got into commercial RE including being a General Partner with syndications from very large Build to Rent multifamily and also buying value-add RV Resorts and Marinas. I was able to leave my corporate job after just 5 years of investing and I never had a high income job or a lot of savings to get started. You can get creative and hustle and scale big and you can make it happen faster than you think.
