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New member to BiggerPockets.

Ivan Wudexi
Member since 2024 · 13 posts · 8 votes

Hello, I am new to this group. I am looking to start investing in real estate by the end of this year. I'm interested in long-term real estate, house hacking, and BRRRR.

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Katie Smith
Member since 2023 · 348 posts · 190 votes
2y

Hi Ivan! Welcome to BP! Where are you looking to invest and do you have a specific buy-box? Do you have your team in place? I recommend getting all of your ducks in a row before you find a deal so that you are prepared when the time comes. 

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  • Katie Smith
    Member since 2023 · 348 posts · 190 votes
    2y

    Hi Ivan! Welcome to BP! Where are you looking to invest and do you have a specific buy-box? Do you have your team in place? I recommend getting all of your ducks in a row before you find a deal so that you are prepared when the time comes. 

    2Reply
  • Ivan Wudexi
    OP
    Member since 2024 · 13 posts · 8 votes
    2y

    Hi Katie!


    I am in New Mexico. Thank you for reply! I appreciate it. I have been getting in touch with real estate agent and working to get other members of the team. Thank you for your advise :)

    0Reply
  • Simon Ashbaugh
    Realtor · Columbus Ohio, Cleveland Ohio · Member since 2022 · 849 posts · 830 votes
    2y

    Hey Ivan, since you mentioned you're new to real estate investing, starting with a turnkey property and house hacking first might be a safer bet. It gives you valuable experience as a landlord firsthand which will be helpful down the road when you consider a BRRRR strategy with hard money. House hacking can also help you offset your living expenses and gain experience managing a property.

    Also, building a strong foundation is crucial to you success. This involves research, networking and gathering local knowledge. Vetting a reliable contractor can significantly boost your odds of success. Feel free to connect and ask questions whenever. All the best!

    1Reply
  • Noah BaconPro Member
    Property Manager · Lansdale, PA · Member since 2021 · 844 posts · 1k+ votes
    2y

    Hey Ivan! Welcome to BiggerPockets and thanks for joining!

    Here are some tips for networking and making the most of your account.

    1) I'd fill out your profile fully before you do anything else! As that will at least help folks that you reach out to know that you are a real person, with a picture and professional bio. Particularly be sure to include your goals for real estate investing so that folks can help you.

    2) Follow your favorite forum topics and set up keyword alerts! Adding keywords related to your investment strategy or market locations can be updated in your settings. You’ll receive notifications when there is conversation in the forums you follow or if a user mentions those keywords—so keep them updated often!

    3) Check out some of the local meetups that you can find in this forum! There are so many so be sure to filter by your location.

    4) Review Dave Meyer’s The State of Real Estate Investing Report 2024 (in your resource page as a member of BiggerPockets!) for real estate investors available to all BiggerPockets members!

    5) Consider meeting with a few agents in your area even if you are just getting started! An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do.

    6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

    Hope this helps! Please reach out with any questions you may have!

    0Reply
  • Anderson S.Business Member
    Lender · Brooklyn, NY · Member since 2024 · 209 posts · 50 votes
    2y

    Glad you're on this journey! There's a ton of information on BP that'll help you as you learn and grow!

    [email protected]917-830-7144
    Brooklyn Funding Group59 Reviews
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  • Ivan Wudexi
    OP
    Member since 2024 · 13 posts · 8 votes
    2y

    Hi Noah. Thank you for your advise.


    i’ve been contacted via phone by several real estate agents in my local area. How would you go about choosing a real estate agent vs working with multiple agents for leads? 

    1Reply
  • Noah BaconPro Member
    Property Manager · Lansdale, PA · Member since 2021 · 844 posts · 1k+ votes
    2y
    Quote from @Ivan Wudexi:

    Hi Noah. Thank you for your advise.


    i’ve been contacted via phone by several real estate agents in my local area. How would you go about choosing a real estate agent vs working with multiple agents for leads? 


     I would check out the blog article 17 Questions to Ask an Investor-Friendly Real Estate Agent.

    After you have your questions ready, I'd recommend using BiggerPockets Agent Finder to match with a local, investor-friendly real estate agent who can help you find, analyze, and close your next deal. It's fast, free, and easy to use.

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Ivan Wudexi:

    Hello, I am new to this group. I am looking to start investing in real estate by the end of this year. I'm interested in long-term real estate, house hacking, and BRRRR.


     Welcome aboard playa.

    0Reply
  • Ivan Wudexi
    OP
    Member since 2024 · 13 posts · 8 votes
    2y

    Hi Noah. 

    Thanks for the article. I was contacted by several investor friendly real estate agents from Bigger pockets. 

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Ivan Wudexi

    Starting a real estate investing journey by the end of this year involves setting goals, Learning from BiggerPockets, local REIA groups, and from good books. Save for a down payment. Check markets for good rent and home value. Get in touch with a real estate agent. Timeline should be Three months: Save cash. Six months: Study markets. Year-end: Aim to have a deal. You might buy a house to live in and rent out rooms, or a BRRRR property, based on the market. Be patient. Do your homework. Ask a financial expert for help.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
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    2Reply
  • Ivan Wudexi
    OP
    Member since 2024 · 13 posts · 8 votes
    2y

    Thank you for your great advice!

    0Reply
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