Hi everyone, My name is Melissa. I’m actively working toward getting started in real estate investing and would love to learn from those who’ve already taken the leap.
I’m especially interested in short-term rentals, but I’m open to multifamily if the numbers make sense. I’ve done a fair amount of research and gone through a few books already, so at this point I’m focused on taking action and making my first deal happen.
If you have any additional book recommendations, resources, or—most importantly—personal experiences from your first investment (what gave you the confidence to move forward, what you wish you knew, etc.), I’d really appreciate you sharing.
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
5mo
@Melissa Taff honestly, the best thing I'd tell you is to stop waiting for the "perfect" deal and just run the numbers on everything you can find right now. Confidence comes from reps, not more reading. From my experience, your first deal doesn't have to be a home run; it just has to make sense on paper and get you in the game.
Investor · Clearwater, FL · Member since 2025 · 226 posts · 78 votes
5mo
These are my go to books:
Strategy:
Rich man in Babylon
Robert Kiosaki
- Rich Dad Poor Dad
- Cashflow Quadrant
- Guide to investing
- Real book of Real Estate
Real Estate Journey:
Ken McKelroy
- ABCs of Real Estate Investing
- Advanced book of Real Estate Investing
- ABC of Property management
Also, try to network with investors at local REIA meetings.
These are my go to books:
Strategy:
Rich man in Babylon
Robert Kiosaki
- Rich Dad Poor Dad
- Cashflow Quadrant
- Guide to investing
- Real book of Real Estate
Real Estate Journey:
Ken McKelroy
- ABCs of Real Estate Investing
- Advanced book of Real Estate Investing
- ABC of Property management
Also, try to network with investors at local REIA meetings.
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
5mo
It’s good that you’re keeping your strategies open. You usually won’t really know what’s realistic until you understand your financing situation and your personal position.
That said, this is actually a great start. I’d spend some time learning your financing options and figuring out where you stand. Whether you already have funds set aside, how much you can realistically borrow, or if you need to build that part up first. That will shape everything else more than the strategy itself.
A really good next step is talking to a few investor-friendly lenders who understand different strategies you’re considering, whether that’s short-term rentals, multifamily, or even house hacking. They can help you understand what you actually qualify for and what structure makes sense before you start narrowing down deals. From there, everything else gets a lot clearer and less overwhelming.
And one thing I’d add is don’t get stuck waiting for the “perfect” deal. It’s good to be conservative and make sure the numbers work, but if your goal is to grow long term, the first step is just getting into something that pencils out and you can learn from.
It’s good that you’re keeping your strategies open. You usually won’t really know what’s realistic until you understand your financing situation and your personal position.
That said, this is actually a great start. I’d spend some time learning your financing options and figuring out where you stand. Whether you already have funds set aside, how much you can realistically borrow, or if you need to build that part up first. That will shape everything else more than the strategy itself.
A really good next step is talking to a few investor-friendly lenders who understand different strategies you’re considering, whether that’s short-term rentals, multifamily, or even house hacking. They can help you understand what you actually qualify for and what structure makes sense before you start narrowing down deals. From there, everything else gets a lot clearer and less overwhelming.
And one thing I’d add is don’t get stuck waiting for the “perfect” deal. It’s good to be conservative and make sure the numbers work, but if your goal is to grow long term, the first step is just getting into something that pencils out and you can learn from.
You learn by doing more than waiting.
Thank you! This is very helpful. It is definitely overwhelming to start, however, I have heard that starting is the hardest part. Once you take the leap, things are still challenging of course, but things get easier the more you do them.
I definitely will have to look into some investor friendly lenders. I have done some research on options, but the lenders I have talked to, don't seem to know too much about some of the creative investor strategies. I will do some more digging here, thank you!
I love the "learn by doing" piece. That is exactly why I want to make some moves. I've been "thinking" about it for way too long. I haven't learned many new things by "thinking"! I appreciate the motivation!
Investor · Clearwater, FL · Member since 2025 · 226 posts · 78 votes
5mo
I was in your shoes 14 months ago. I partnered with my mentor on my first deal. She has the crew and she found the deal. I brought the money to table. This deal is in Midwest. That one successful exit opened doors with my Hard Money Lender. Fast forward, I just sold my 5th rehab project this week. 3 more under rehab. Strong fundamentals and working with people you know and trust to get your first deal will put you in the real estate journey.
@Jay Toluganti This is motivating, thank you! I definitely need to join some local groups to help build my network. I need to have a "team" I can count on for advice, contracting, lending etc. thank you for the guidance!
Investor · Clearwater, FL · Member since 2025 · 226 posts · 78 votes
5mo
@Melissa Taff ontractor should be the first on that list. Please be mindful that its hard to find someone reliable. Fellow investors might give you some recommendations.
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
5mo
@Melissa Taff honestly, the best thing I'd tell you is to stop waiting for the "perfect" deal and just run the numbers on everything you can find right now. Confidence comes from reps, not more reading. From my experience, your first deal doesn't have to be a home run; it just has to make sense on paper and get you in the game.
@Kerlous Tadres I definitely need to start analyzing opportunities - I have a few calculators that are supposedly solid for analyzing deals. I'll start looking at on market and even recently sold just to see what I'm looking at that makes the most sense. Thank you so much!
Inland Empire, CA · Member since 2017 · 151 posts · 79 votes
5mo
Hey @Melissa Taff welcome! I went straight into larger multifamily because it made more sense for me based on what I'm looking to accomplish financially and timeline. Happy to connect and share more if it'd be helpful.
Rental Property Investor · WI · Member since 2023 · 192 posts · 144 votes
5mo
Hey Melissa, welcome to the group and congrats on looking to get started. I invest about an hour north in Sheboygan. I have been doing this for about 5 years. We have a combination of small multifamily properties and single family homes. Our multifamily properties are duplexes, one upper/lower and one side by side. We have a total of 8 doors, 6 properties. I tend to follow the small and mighty approach vs. growing super large. My wife and I have recently transitioned from acquisition to debt paydown. We are now working to pay-off all of our properties so we can retire. I am hoping to accomplish this goal by 45; I am 40 now.
We started because the cashflow from properties was much better than dividends from index funds, I love to do handy work, I like working with people, and I like the tax benefits from real estate. I also like running my business and it feels good providing housing for the community. For us it has been a great experience, and I am so glad we decided to get into real estate. Doesn’t mean it hasn’t had its challenge points but man does it feel good when you come out on the other side of those challenging points.
I have worked with many people on BP to help them get started. Whether that be meeting up in person to answer questions, share our experience, share our processes and work instructions we have developed for our business, or anything in between. I have even walked through properties with people looking to get started. As you can tell I am really into this stuff lol. If there is anything you need help with or have questions about, let me know.
Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
5mo
Hi Melissa,
I am stationed in Milwaukee too and own Captain Save A Home LLC with my husband who is also a real estate agent with Premier Point Realty. We have been in real estate for 12 years now and own multi-families.
I consider Lisa Loesel, owner of Short and Suite Milwaukee, an expert in AirBnBs. She sets up and runs short term rentals for others as well and I believe she has a group on Facebook that keeps everyone up to date on local AirBnB laws.
How will you be funding your first deal? Are you thinking more conventional or hard money/BRRRR?