New guy from NY - starting my real estate education here

New guy from NY - starting my real estate education here

Fishkill, NY · Member since 2013 · 88 posts · 36 votes

Hi guys, my name is Aaron, and I'm from Putnam County, NY. I own a small ecommerce company which takes up most of my time, but I've had an interest in real estate my whole life. I've recently become more interested in exploring passive cashflow techniques, and realized that I could potentially do that through my lifelong interest in real estate. I actually found a Bigger Pockets video on YouTube while browsing other real estate videos, and stumbled upon this enormous wealth of information. It's actually taken about a week to post this intro thread because I've been caught up reading dozens of articles on this site.

My interest lies in purchasing rental properties. I have laid out a tentative 10-year plan which begins with two single-family homes and progresses, using the cashflow saved, to duplexes, then 4-plexes, then smal apartments, then large apartment buildings. I'm fairly undereducated in this field, so the idea is to immerse myself in education this year, use what I learn here over the next year to refine that 10-year plan, run it by other members for their input and expertise, and then put it into motion next year.

Glad to be here!

0Reply
10 views

Most Popular Reply

Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
12y

Love your picture Aaron! :) Welcome to BP. Rental properties rock. You're totally in the right line of thinking. Rentals are all I buy as well. A lot of people on here flip and wholesale and all that but I'm not into doing that much work. Rentals have insane amounts of benefit to them.

As a newbie, just make sure you understand numbers. I'd say the biggest mistake people make is buying a property that won't actually put money in your pocket every month. In NY too you will find this more than not. So be careful there.

You can actually learn everything you need to about rentals in way less time than a year. You'll do great once you jump in!

See this reply in the discussion

7 Replies

Jump to latestLatest
  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    Welcome to the site, @Aaron K. and thanks for the intro. Have you checked out our Ultimate Beginner's Guide to REI yet?

    Otherwise, we've got a TON of awesome articles on the BiggerPockets Blog on the topic of starting out in rental properties and I strongly recommend checking out our BiggerPockets Podcast, where we've interviewed many amazing investors who share fantastic advice on the topic.

    Good luck to you!

  • Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @Aaron K. great 10 year plan but even better profile picture! Some other good reading material:

    http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/

    Another book that's not on the list that I really like is Equity Happens.

  • Fishkill, NY · Member since 2013 · 88 posts · 36 votes
    12y

    Thanks for the welcome! I'll definitely be going through the podcasts, I started listening today and hope to go through at least a couple a day moving forward. They seem to be a great source of "real world" information. I have read the beginners guide to REI once, but have it saved to go back to a few more times to digest all of the info in it.

    Thanks for the list of books too, that'll be my reading material for the next couple of weeks!

    Aaron

  • Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    12y

    Love your picture Aaron! :) Welcome to BP. Rental properties rock. You're totally in the right line of thinking. Rentals are all I buy as well. A lot of people on here flip and wholesale and all that but I'm not into doing that much work. Rentals have insane amounts of benefit to them.

    As a newbie, just make sure you understand numbers. I'd say the biggest mistake people make is buying a property that won't actually put money in your pocket every month. In NY too you will find this more than not. So be careful there.

    You can actually learn everything you need to about rentals in way less time than a year. You'll do great once you jump in!

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Aaron K.

    Welcome. Your background could be helpful i n your property search.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

    Good Luck

    Paul

  • Investor · Caledonia, NY · Member since 2013 · 114 posts · 41 votes
    12y

    Hi Aaron,

    It looks like we're in the same boat! I'm also from New York (the Western side), and am looking to expand my portfolio into multi-family properties. I just found BP today, and am very excited about the possibilities it creates!

    Cheers~

    Tara Piantanida-Kelly

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Aaron K. welcome to the site!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.