Updated about 11 years ago on . Most recent reply
New Investor, Trying to Learn More
Hi everyone. I am a somewhat newbie real estate investor, and this is my first post.
I currently have one rental property, and am beginning to think that I would like to expand the number of rental properties I own and manage. I'm mostly a DIY type, at least when it comes to the business of managing the rental itself. I'm OK with doing minor repairs and maintenance, but will hire contractors for any kind of significant work. The rental is a condo that I used to live in. After getting married and with our first child on the way, we wanted the home with a yard, family friendly neighborhood, etc., and so we kept and rented the condo while also buying a new house. I have been fortunate to have a wonderful tenant who takes great care of the place and pays her rent on time every month. We signed a two year lease last August.
I'm reading the book recommended here ("The Book on Investing in Real Estate..."), and trying to learn as much as I can from the blog, forum etc. I feel like I'm still too new to even know what questions I have.
If anyone has any newbie insight or advice, I would love to hear it. No amount of information is too much, and all details are greatly appreciated. Thanks in advance for any help!
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#2 New Member Introductions Contributor
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- Rockland, MA
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#2 New Member Introductions Contributor
- Specialist
- Rockland, MA
Welcome. Fill in the foundation below.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).
Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Good Luck
Paul