Temple, GA · Member since 2014 · 2 posts · 2 votes
My name is Tyler Robertson and I am from Dallas Georgia. I came across this website last week when I saw a post from Brandon Turner on MSN about buying a multifamily home, and it caught my interest. I have no experience in investing, but I would enjoy to learn more while I save up the funds to make my first purchase. I would like to own a few rental properties, but my goals or not set in stone yet as I learn more I'll probably make changes to my goals.
Some of my questions would be, what are some of the most cost effective ways to get appreciation? I saw something about cap rate, what is that? Is it easier to own properties in proximity or is it okay to own properties in other states?
CAP rate is a term used in multifamily properties, and it is the NOI over the cost/value of the property.
Starting off, your best option will be to purchase local, and in a proximal area, as this will make it easy to visit all your properties. As you gain skills, you can create teams, but you ALWAYS want boots on the ground in the area you are buying.
I tell everyone to find a local REI group. Network, set up informational interviews, and between this resource, and that, you will be able to gain all the knowledge you need!
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
Hello Tyler. You came to the right place! I'm a buy/fix and hold investor in the Bay in CA. But you'll find a variety of all strategies here on the website. A few tips on the website and on meeting some fellow investors:
Search for local meetups here or google a local REI club to network with other investors. On the site, the "Learn" link across the top navigation bar has lots of great info, and so do the forums. You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the 'vote' button if you like someone's post or is helpful, and there are 'awards' to earn on your profile. Good luck on everything!
Investor · Gwinnet, GA · Member since 2014 · 18 posts · 2 votes
8y
Congrats on starting Tyler!!! Even if all you deal was look at the information. The most important thing to do with real estate is to keep going through the process once you determine your path and goals. Based off your questions. May I suggest that you look around the site and go to the Education area on bigger pockets. There is so much information on here that I am sure your questions will get answered. I am in Georgia and service that area so feel free to pm me if you have questions .