Late start Okie eager to learn, connect and start investing!

Tulsa, Oklahoma
New Member Introductions
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Late start Okie eager to learn, connect and start investing!

Samantha Hogue
New to Real Estate · OK · Member since 2024 · 3 posts · 1 vote

Hi folks! I'm brand new to BP and RE investing, and I'm excited to start this journey and learn as much as the old grey matter will absorb. I am still reading through the awesome getting started guides on BP and working out what my strategy is going to be and where my market should be. I am all ears if anyone has any wisdom to impart to a newbie.

So, I recently launched an LLC and I am working on getting it certified as a Woman Owned business; not sure if that will help in any way, but I figure it can't hurt. My plan is to use the LLC to acquire properties and to be the employer for the property manager when I actually acquire some walls and a roof besides my own personal home. Beyond that, I don't know what else to do other than read all I can on BP, attend some meetups and start researching properties. I am still employed full-time, but I work from home so I have more time than most still stuck in the rat race, so I'm hoping to have a plan and a strategy by the end of 2024.

A little about me:  I love camping (well, Glamping if I'm being honest - we camp in a Northern Lite RV), mountain biking (which I'm not very good at but I love the challenge), and Star Trek in all it's various iterations.  I also love learning, so if anyone has any resources they'd like to list, link or just mention - I'd love to hear about them. I've wasted decades being an employee, and I'm ready to get out of the rat race and start investing to provide homes, jobs and communities!

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Most Popular Reply

Bill HamptonBusiness Member
Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 977 votes
2y

@Samantha Hogue

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking and is full of great content.

I recommend that you check out the following resources:

1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

2. Check out other online guides available here: https://www.biggerpockets.com/guides

3. Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

4. If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

5. You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings

6. BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators

7. If you can't find what you're looking for, try the Bigger Pockets Fileplace. It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files

Good luck.

404-482-3170
Hampton Tax and Financial Services LLC4.7106 Reviews
WebsiteView Page
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6 Replies

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  • Clayton Silva
    Lender · CA · Member since 2018 · 637 posts · 393 votes
    2y

    Nice to meet you Samantha, and glad to have you here at BP!  One of the common things I see with newer investors (I was guilty of this as well) is the "shiny object" syndrome.  When first learning about real estate, one quickly realizes there are about 10,000 different ways/markets/options for investing in real estate.  The most successful investors I see tend to get laser focused on 1 or 2 strategies in 1 or 2 markets and they get really good at doing the same winning thing over and over.  I would read all you can about different strategies and markets for a bit and then figure out which strategy is most enticing to you (flipping, short term rentals, long term buy and hold etc.).  Once you figure out a strategy that you want to do, next I would learn about potential markets for that strategy and focus on 1 or 2 markets that you have some kind of competitive advantage in (you live there and know the area, you have friends/family/a good realtor there etc).  Lastly, take a lot of time to learn about different financing strategies for your specific niche and learn how to analyze deals and run numbers.  Warren Buffett has a great quote that I am going to butcher right now, but effectively he said something along the lines of: successful people make a list of the top 10 things they want to do/accomplish and rank them in order 1-10.  Take the bottom 7 or 8 things, delete them from the list and forget about them.  Hope this helps!

    0Reply
  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 977 votes
    2y

    @Samantha Hogue

    Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking and is full of great content.

    I recommend that you check out the following resources:

    1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

    2. Check out other online guides available here: https://www.biggerpockets.com/guides

    3. Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

    4. If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

    5. You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings

    6. BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators

    7. If you can't find what you're looking for, try the Bigger Pockets Fileplace. It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files

    Good luck.

    404-482-3170
    Hampton Tax and Financial Services LLC4.7106 Reviews
    WebsiteView Page
    1Reply
  • Jana Crum
    Realtor · Phoenix, AZ · Member since 2017 · 117 posts · 78 votes
    2y

    Hey @Samantha Hogue Welcome to the world of real estate investing! It's great that you've set up your LLC. Now that that's in place you'll want to start building credit through that LLC so you have enough credit time & a quality score to qualify for a property using your LLC. I'd reach out to a lender in your area or the area you're interested in investing in to get a game plan together.

    1Reply
  • Samantha Hogue
    OP
    New to Real Estate · OK · Member since 2024 · 3 posts · 1 vote
    2y

    Thank you all for the warm welcome and super helpful replies. I'm going through the reading list and I will certainly take your advice and start looking into resources, meetups and opportunities in my area. I'm in a bit of information overload right now but I'm eager to learn more.

    0Reply
  • LeAnn RileyBusiness Member
    Real Estate Broker · Minneapolis, MN · Member since 2015 · 116 posts · 67 votes
    2y

    @Samantha Hogue   You got me on the RV lifestyle. I have a Keystone Cougar and work remote from my RV often. That's what is great about real estate, the opportunity for FREEDOM in time and lifestyle choices. There are so many different businesses that can be created around real estate investing if you dial in your personal skill set and figure out the strategy that matches. Over the years I have been a property manager, portfolio builder to 14M, coach and real estate broker/team leader. All different parts of the investing world.
    Be careful with the info overload and get focused on the one thing.

    0Reply
  • Samantha Hogue
    OP
    New to Real Estate · OK · Member since 2024 · 3 posts · 1 vote
    2y

    Thank you LeAnn, It's going to be a slow road for me - working on debt reduction, then building credit for the LLC, but that gives me time to learn and discover what strategy is the best fit for me.

    Part of my reason for getting into REI is so I can live the wanderer lifestyle while I'm still young enough to do it and enjoy the activities that we love; we have a Northern Lite truck camper and while it's a bit too small for my husband and I, our 2 dogs and cat, it's perfect for traveling up to a couple weeks at a time, which is what we both want to do.

    Thanks again to everyone for the great advice and warm welcome.

    0Reply
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