Totally new to real estate - would appreciate some opinions!

Brooklyn, NY · Member since 2015 · 58 posts · 9 votes

Hi everyone,

One of my main goals for 2016 is to buy an investment property. I'm totally new to real estate and started reading some materials and watch some videos. I currently rent an apartment and never bought one. Any opinions to where and how should I start? How is Brooklyn to start with?

Thanks and Happy New Year!

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Trexie E.Pro Member

BiggerPockets Support · Davao, Davao del Sur · Member since 2015 · 937 posts · 163 votes

10y

Hi @Assaf Kehati,

Welcome aboard! We're so excited you're here and making connections.

Have you read The Ultimate Beginner’s Guide to Real Estate Investing? We wrote it with the beginner in mind. It’s an excellent place to start, and can answer many of your questions.

You are in the right place to learn all about real estate investing. Do you know what sort of investing you are thinking of doing?

BiggerPockets has a FREE webinar every week. Presented by the BiggerPockets Podcast co-host, Brandon Turner, it covers a different topic every week. Sign up here for the next Webinar. Most webinars are recorded and a replay link will be sent out to anyone who signs up.

Please don't hesitate to reach out if you have any questions or clarifications. We are always happy to help!

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Trexie E.Pro Member
BiggerPockets Support · Davao, Davao del Sur · Member since 2015 · 937 posts · 163 votes
10y
Hi @Assaf Kehati,
Welcome aboard! We're so excited you're here and making connections.
Have you read The Ultimate Beginner’s Guide to Real Estate Investing? We wrote it with the beginner in mind. It’s an excellent place to start, and can answer many of your questions.
You are in the right place to learn all about real estate investing. Do you know what sort of investing you are thinking of doing?
BiggerPockets has a FREE webinar every week. Presented by the BiggerPockets Podcast co-host, Brandon Turner, it covers a different topic every week. Sign up here for the next Webinar. Most webinars are recorded and a replay link will be sent out to anyone who signs up.
Please don't hesitate to reach out if you have any questions or clarifications. We are always happy to help!
1 Reply
Mark Holencik
Investor · Coplay, PA · Member since 2015 · 404 posts · 315 votes
10y
You live in Brooklyn. Brooklyn is the best place to start.
0 Reply
Ingrid J.
Investor · Tromsø, Norway (Europe) · Member since 2015 · 431 posts · 194 votes
10y
@Assaf Kehati I would go through The Ultimate Beginner's Guide here on BP for starters to aquire an overview.
Another source which helped me a lot was the book The Millionaire Real Estate Investor, as it teached you how to determiner what your buying criteria and terms can be.
0 Reply
Assaf Kehati
OP
Brooklyn, NY · Member since 2015 · 58 posts · 9 votes
10y
@Ingrid J. @Mark Holencik @Trexie E.
Hi everyone and thanks a lot for writing!
I will definitely read the books you recommended. So far what I did is watched about 5-6 podcast of BP on Youtube and made some notes.
Because I don't own any apartment I was thinking to buy a two apartment house and live in one of the apartments and rent the other. Any thoughts about that? Any thoughts specific about the situation (and tips) in Brooklyn?
Happy New Year!
1 Reply
David Dachtera
Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
10y
Originally posted by @Assaf Kehati:

@Ingrid J. @Mark Holencik @Trexie E.
Hi everyone and thanks a lot for writing!
I will definitely read the books you recommended. So far what I did is watched about 5-6 podcast of BP on Youtube and made some notes.
Because I don't own any apartment I was thinking to buy a two apartment house and live in one of the apartments and rent the other. Any thoughts about that? Any thoughts specific about the situation (and tips) in Brooklyn?
Happy New Year!
BP'ers have a term for that: "house-hacking". One of the bloggers came up with it.
Have a Great Year!
David J Dachtera
"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
- DJ Benedict
1 Reply
Assaf Kehati
OP
Brooklyn, NY · Member since 2015 · 58 posts · 9 votes
10y
Thanks! @David Dachtera
That's exactly why I had this idea "house-hacking"...I heard it in one of BP podcasts!
But still, I'm trying to get some opinions from people's experience how to do it and also how is the market in Brooklyn. Any help and tips would be great!
0 Reply
Chaim F.
Property Manager · Brooklyn, NY · Member since 2015 · 537 posts · 56 votes
10y
Hi @Assaf Kehati, welcome to the BP community. There's lots of great information here that would help you start investing. About Brooklyn, it's not the best place to invest for cash flow, but you can get nice returns if you buy right, and you can get appreciation in the back end.
Wishing you lots of success!
Happy New Year!!
0 Reply
Assaf Kehati
OP
Brooklyn, NY · Member since 2015 · 58 posts · 9 votes
10y
Thanks! @Chaim F.
Any more tips and info on Brooklyn that you can share?
0 Reply
Chaim F.
Property Manager · Brooklyn, NY · Member since 2015 · 537 posts · 56 votes
10y
@Assaf Kehati
If you want to know anything specific, you can PM me.
Good luck!
0 Reply
Assaf Kehati
OP
Brooklyn, NY · Member since 2015 · 58 posts · 9 votes
10y
Thank you @Chaim F.
I tried to send a pm, did it work?
0 Reply
Chaim F.
Property Manager · Brooklyn, NY · Member since 2015 · 537 posts · 56 votes
10y
@Assaf Kehati
You would have to send a colleague request first.
0 Reply
Assaf Kehati
OP
Brooklyn, NY · Member since 2015 · 58 posts · 9 votes
10y
Thanks @Chaim F. for helping my first steps in this website! I think it was sent this time..
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