Finished Book. Starting Networking...
Truthfully, I had a very cliché path to BiggerPockets. Simply put, I wanted to learn more about investing, so I read 'Rich Dad Poor Dad'. Following that, I wanted to learn more about REI, so I am now finishing up reading 'How to Invest In Real Estate- the Ultimate Beginner's Guide to Getting Started' by BiggerPockets. The good ol' Rich Dad Poor Dad pipeline that I have learned many others have also used to get their start in REI. I'd love to hear any other must-read REI book recommendations from you guys. I currently have 'Millionaire Next Door' and 'Multi-Family Millions' on my to-read list.
Although I am definitely still in the learning phase of my REI journey, I am trying to start researching markets/areas in NJ, building an analysis system, & connecting accordingly.
In regards to an investment approach that I may utilize for my first real estate investment, House Hacking seems like the obvious answer, but I am also pretty comfy living at home, saving a lot of money working remotely. Perhaps I would be ready for a move later in 2023, as I am also hoping the housing markets continue to cool & I can continue to save. Another integral thing to note here is that I work in Tech, and Tech is getting slaughtered currently with increasing layoffs & a grim macro-level forecast. The smart and safe route seems to be pushing-off any major REI investments to help navigate these uncertain times. I have always been interested in getting my Real Estate License & becoming a Real Estate Agent on the side, so that is an option if things get especially tough. Ideally, I would like to target an area like Hoboken/Weehawken/Jersey City to potentially live-in and/or house-hack with a multi-family as someone in my 20s.
So with that being said, I am still fairly open to different strategies as well since I am not sold on moving out just yet. There is also a part of me that wants to simply live in an apartment complex, with all the amenities and community that a house might not offer. Going from home, to not dorming at college, to still living at home (all in the middle of COVID), to then being a home-owner, seems like I am missing out on the social aspect of living arrangements, if that makes sense. Short-term rentals / AirBnb also entice me for this reason, but I imagine maybe the Jersey Shore would be better for that, and Airbnb seems to be in the headlines nowadays for all the wrong reasons. Still open to STR though, along with potentially flipping, live-in flipping, BRRRR as other strategies that I like. I also understand the power of commercial / large multi family investments, considering my family's multi-family home is under an LLC, but I also see how much work it can be.
All in all, it would be nice to hear from anyone in the BiggerPockets community, specifically- what everyone recommends as the best way to get started in NJ, what makes sense for my situation, and what areas do you see the most cooling / opportunities in. I appreciate anyone who read all of this, as well as any advice!
welcome! I would mix the books with some podcasts (other than BP) and youll be unstoppable lol
@Dominic Michael Rego, I see you're in NJ.
Another great thing is to attend different networking events so you can meet different players in the real estate space as well as other investors.
@Jonathan Greene hosts a monthly networking event in person out of Montclair, highly recommend it
@Kayla Scordo also hosts a monthly networking event!
Quote from @Sebastian Hernandez:
@Kayla Scordo also hosts a monthly networking event!
@Sebastian Hernandez thank you.
@Dominic Michael Rego definitely network with other local investors and real estate professionals - it is invaluable. Would love to chat more with you at our next event on 11/29 at Woodstone Pizza Bar & Grill in Rochelle Park.
Quote from @Kerry Noble Jr:
welcome! I would mix the books with some podcasts (other than BP) and youll be unstoppable lol
Appreciate the comment, nice to meet ya Kerry! Any Podcasts you recommend?
Quote from @Sebastian Hernandez:
@Dominic Michael Rego, I see you're in NJ.
Another great thing is to attend different networking events so you can meet different players in the real estate space as well as other investors.
Pleasure to connect! Thanks for the specific recommendations
Quote from @Kayla Scordo:
Quote from @Sebastian Hernandez:
@Kayla Scordo also hosts a monthly networking event!
@Sebastian Hernandez thank you.
@Dominic Michael Rego definitely network with other local investors and real estate professionals - it is invaluable. Would love to chat more with you at our next event on 11/29 at Woodstone Pizza Bar & Grill in Rochelle Park.
Appreciate you reaching out. Could you tell me more about the event? Regardless, thanks for letting me know, food looks great there!
Quote from @Dominic Michael Rego:
Quote from @Kayla Scordo:
Quote from @Sebastian Hernandez:
@Kayla Scordo also hosts a monthly networking event!
@Sebastian Hernandez thank you.
@Dominic Michael Rego definitely network with other local investors and real estate professionals - it is invaluable. Would love to chat more with you at our next event on 11/29 at Woodstone Pizza Bar & Grill in Rochelle Park.Appreciate you reaching out. Could you tell me more about the event? Regardless, thanks for letting me know, food looks great there!
@Dominic Michael Rego definitely. I will message you