New, serious, self-educating & want 3-4 rentals buy end of 2023.
Hello, my name is Nate -
It's great to meet everyone and discover this community.
Hey @Nate Saenz Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?
1.Subscribe to the BiggerPockets Money and Rookie Podcasts
2.Attend the FREE WEBINARS
3.Attend a Meetup in Your Area / virtual meet ups
4.Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy
5.Peruse the forums! Ask questions! Answer Questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!
Good luck,
Ryan Doner
Hi Nate, would love to connect!
Hi, Nate. My wife and I were real estate agents in Austin and now own an independent real estate brokerage in Canon City and well as a few short, mid and long term rental properties. We’d love to meet with you and see if we can help you meet your goals.
Hi Nate,
Welcome to a crazy world. Investing in RE is a wild ride with all kinds of hairy scary competition! Get on to realtor.com and sign up for emails covering sales and rentals. Also I believe the MLS has a site where they list current rent levels by area. You might consider getting a real estate license which gives you access to all sorts of data. There are social media groups where For Rent ads appear and you can contact owners and pick their brain.
Here's my take on your 3-4 rentals acquisition. I dont want to rain on your parade but you've gotta hit the street and learn whats going on in the grass roots rental markets you are interested in, and find a lender with the right experience as well as a broker who knows the current insane investing facts, which include cash flow is extremely difficult to achieve and slime ball tenants are just waiting for a newbie like you so they can move in to your place and quit paying rent. And they own weapons and will threaten you and yours. Do a Google search on bad tenants and murdered landlords.
Watch out for condos and townhouses, the maintenance will kill your cash flow. And you've got NO control. The "committee" has their hands in your pocket at all times!
Driving around and parking the car to talk to people residing in an area, if you have a dog its easy to start a chat. Find a dog park and take your dog so you can meet people. everybody likes to talk about real estate.
Yes its a lot of shoe leather--who wears leather shoes anymore? BUT it will pay off. Figure out how many hours a week you can devote to building your foundation, whether its 5 or 50, and write it on your calendar, you know the drill ...