Noob to real estate

[Gabe Arnaud]

I have always said that I wanted to get into real estate investing but just never pushed myself to go further than that. I have been doing a little research and talking to some investors and it has given me the confidence to finally start my portfolio. If anyone has any advise that has helped them get started or just information that they think is very important and has changed the way they invest please share. 

[Patrick Roberts]

Quote from @Gabe Arnaud:

Quote from @Patrick Roberts:

Are you attending Red Stick REI? That's by far the best place to start. That should be paired with self-education. There are tons of books, podcasts, and youtube videos that can provide you with knowledge and context/information for free or for very low cost.

Have you given any thought to strategy or focus?

I have not attended Red Stick REI but I will definitely look into it. I don't live in Baton Rouge that was just the closest place to me that I could choose from, but I only live about 45 minutes west of there. I started listening to the bigger pockets podcast not too long ago, but I have talked to a bunch of people over the last 3 or so years or so because I have wanted to do this for a while now but never jumped in. I have also read the millionaire mind, and I am reading the millionaire real estate investor right now.

I have some capital to play with now and I have someone that's going to be helping me start so I'm ready to get started. I have two things that I'm looking to get into right now. One of those being the live and flip. I will be getting married at the end of October and we need a house to live in. I want to be able to find something that we can get that we can fix up while we live in it and get some equity and either sell it, 1031 and find another one or take out a HELOC and get a rental. The second thing I am interested in doing is working with my friend that has been in real estate for around 15 years. He is willing to get a house with me to flip and divide the revenue. He would put up the money, so I don't have to put any money down. I think I can do both at once, but I do have a W-2 job and I don't want to stretch myself just starting.

 Sounds like you have a solid plan. Househacking with a primary residence is definitely the best way to get started. And having a friend with a lot of experience to partner with is huge - this is probably one of the most powerful things you can do to accelerate your progress. 

I know you said you live out by the Lafayette area, so I would check to see whether there are any meetup groups in Lafayette that are closer than baton rouge. If not, Red Stick REI can really help you network and self-educate. I'll be at the meetup in August, so let me know if youre able to make it.

In the meantime, keep stacking cash and get your credit score as high as you can.