New Guy from Tulsa, Oklahoma

10 Replies

My name is Donnie and I'm excited to start my adventure with Real Estate. I was born and raised in Louisiana and at 18yrs. old decided to join the military. In 2003 I left for U.S. Navy bootcamp in Great Lakes, Illinois. I was fortunate to serve 9 years and travele the World. In 2007 I was introduced to the book Rich Dad Poor Dad and it has stuck with me this entire time. I always thought that real estate "could be" an avenue for wealth building. Now in 2015, 3 yrs post military, I'm settled near Bartlesville, OK which is about 40 minutes north of Tulsa and I'm looking to grow in my knowledge of real estate. About 2 weeks ago (Aug 5, '15) I came across BP in a google search for something related to real estate. I downloaded episode 1-20 of the podcasts and have been binge listening ever since! I'm excited to learn and grow with everyone here on BP. Thank you Josh and Brandon for the platform in which I hope to grow from.

-Donnie

@Donnie Martens

I'll bet you're glad to be settled. Tulsa is a great area to invest in real estate. 

Study as much as you can, but don't get "paralysis by analysis". At some point, the best move you can make is to buy your first investment property, especially with the potential for interest rates to rise in the near future.

Best of luck to you in your investing.

Welcome to BP @Donnie Martens , this is a great forum resource for you and your REI needs. Listening to the podcasts is a great way to immerse yourself into the REI mindset. Keep that up and try to do a little homework each day... analyze a different deal every single day. It doesn't have to be a REAL deal, find something in your comfort zone (area and price) from the MLS and run the BP rental analysis on it... every day. After a month or so you will KNOW a good deal from a questionable one. Good luck to you!

To the BP Community:

Thank you

@Curtis Yoder, @Craig Wilcox, @Nate Garrett, @Dmitriy Fomichenko, @Mark Spidell

 for the kind welcome.

I'll continue learning while consuming the information on the best website. BP!!

-Donnie

Hi Donnie - Good luck!

The podcasts are a great start! Read, read, read and go to your local REIAs. Or come to OKC and come to ours... there are 2 here - both on Thursday nights.

Here is one of Tulsa's (You can find through Meetup.com - just search under real estate)

http://www.meetup.com/TulsaREIA/events/223400007/

Use the forums to help you analyze a deal, but as soon as you can... buy a property! It's pretty cheap here and you definitely want to target more than $100 a door here.... One bad tenant will wipe out your $$ for the year! At least $200 in OK is good. (And the 1% rule, and 50% rule - look these up on here)

Remember - this site is not about gurus. I met a guy in Tulsa that spent over $80,000 on his "education"... that's a down payment on a few houses... just be nice, talk to people, take them to lunch and they will help you. And/or hire local mentors when you are ready... but read everything you can get your hands on first so you aren't wasting your $$ on introductory stuff that's in every Real Estate Investing Book 101. 

Go to the Tax Assessors' website, play around with it a little by looking up properties. 

Read J. Scott's books - really helpful in figuring out costs. 

Good luck!

Theresa 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you