Connecting to the Community - Introduction

[Hannah Howe]

Hi Everyone! My name is Hannah. My husband, David and I are very excited to learn and move forward with real estate investment.  We were introduced to this kind of investment about a week and a half ago. Since then, we have been researching and learning a lot about it. We are excited to go on this journey with you all and are looking forward to making connections and getting to know you as well! 

Neither of us have a background in real estate. So, we would appreciate any tips you can give us. I have been listening to the bigger pockets podcasts, started reading books and reading on the bigger pockets website. 

[Nancy Truong]

Hannah! Welcome to Bigger Pockets! You've come to the right place.  This community has so many helpful people. I'm an active investor and live in Texas as well. The opportunities are there. Good luck with your journey.  I hope we cross paths someday.  

- Nancy Truong, Texas Attorney

[Wale Lawal]

Welcome to BiggerPockets Hannah, you are definitely in the right place. Just make sure to consume content here as much as possible and feel free to ask any questions you may have. We are here to help each other grow.

Goodluck

[Patrick Drury]

@Hannah Howe
Look into doing a house hack on a 2-4 unit. It's one of the best ways to get started in real estate investing. Depending on the loan product you use you can put from 3-5% down and live in one unit and rent the others out to help pay the mortgage while you live rent-free or relatively cheap while getting started in real estate.

[Guy Gimenez]

1.   Build relationships on a daily basis...you'll need them. You'll find that with the right relationships you'll be able to scale much faster and with fewer mistakes. 

2.   Understand early on that you should believe none of what you hear and only half of what you see. BP is a great resource, but like any site, there is just as much bad information delivered here as there is sound advice. ALWAYS do your own research before taking anyone's advice as face value. 

3.   Determine what your investment goal and strategy will be.

4.   Spend 3 hours per day (or night) learning a specific investing topic that will be relevant to your investment goal and strategy.

5.   Add value before asking for value from another investor. Seasoned, active investors seldom have time to have someone "pick their brain" for a $10 hamburger. If they take the time, you must have made a good impression initially. Don't destroy that impression by taking potential deals to another investor who gave you nothing when you were starting.

6.   Whatever state you you intend to invest in, learn their laws regarding contracts, landlord/tenant laws, etc. Jumping in with both feet before you have a basic level of knowledge (or have a relationship with someone who does) is the worst advice given by gurus.  

[Hannah Howe]

Quote from @Nancy Truong:

Hannah! Welcome to Bigger Pockets! You've come to the right place.  This community has so many helpful people. I'm an active investor and live in Texas as well. The opportunities are there. Good luck with your journey.  I hope we cross paths someday.  

- Nancy Truong, Texas Attorney

Thank you so much! Hopefully, our paths will cross.

 -Hannah

[Hannah Howe]

Quote from @Wale Lawal:

Welcome to BiggerPockets Hannah, you are definitely in the right place. Just make sure to consume content here as much as possible and feel free to ask any questions you may have. We are here to help each other grow.

Goodluck

 Thank you! I will continue to learn and grow. We appreciate the advice!

-Hannah

[Hannah Howe]

Quote from @Patrick Drury:

@Hannah Howe
Look into doing a house hack on a 2-4 unit. It's one of the best ways to get started in real estate investing. Depending on the loan product you use you can put from 3-5% down and live in one unit and rent the others out to help pay the mortgage while you live rent-free or relatively cheap while getting started in real estate.

 We are interested in house hacking. We didn't know about real estate investing last year so closed on our single home 1345 sq.ft. in December 2021. From what I understand, we have to be here for two years before selling (or else there will be capital gains tax) and one year before renting the house. But definitely trying to figure out how to house hack. 

[Hannah Howe]

Quote from @Guy Gimenez:

1.   Build relationships on a daily basis...you'll need them. You'll find that with the right relationships you'll be able to scale much faster and with fewer mistakes. 

2.   Understand early on that you should believe none of what you hear and only half of what you see. BP is a great resource, but like any site, there is just as much bad information delivered here as there is sound advice. ALWAYS do your own research before taking anyone's advice as face value. 

3.   Determine what your investment goal and strategy will be.

4.   Spend 3 hours per day (or night) learning a specific investing topic that will be relevant to your investment goal and strategy.

5.   Add value before asking for value from another investor. Seasoned, active investors seldom have time to have someone "pick their brain" for a $10 hamburger. If they take the time, you must have made a good impression initially. Don't destroy that impression by taking potential deals to another investor who gave you nothing when you were starting.

6.   Whatever state you you intend to invest in, learn their laws regarding contracts, landlord/tenant laws, etc. Jumping in with both feet before you have a basic level of knowledge (or have a relationship with someone who does) is the worst advice given by gurus.  

 Thank you so much for your reply to our post. We will definitely keep these points in the front of our minds moving forward. We are still figuring out our strategy and will continue to improve and hone in our investment goals. Throughout this journey, we do hope to make good, solid relationships. Thank you for the advice on how to begin this journey as well as doing our own research into contracts, laws etc. We truly appreciate your time in giving us advice.