Hi my name is Andrew I'm new to the community but I have learned a lot so far. I purchased my first property at the age of 22 and my second at 25. Both were purchased when the market was really bad and everyone was losing their homes. Almost everyone I spoke to about purchasing property at those times shot me down and told me it was a bad idea but I still went ahead and did it. Now both properties almost doubled in value since then and I cash out refinanced one to pay off the other. Now I am looking to take my real estate investing to the next level. I joined BP so that I can gain more knowledge and make even better deceisions in the future to come. My goal is that by the end of the year I want to have two more rental properties cash flowing at least $500 for meme.
Welcome to Biggerpockets @Andrew Fenton , great to have you on the site
Hey @Andrew Fenton thanks for jumping in and introducing yourself! Looks like you have some good experience with real estate! Don't be afraid to jump in and help answer questions or ask some of your own.
Have you setup your "Keyword Alerts" yet? If not - definitely add some. I'd recommend adding "Conyors" so you'll be notified when people talk about your local area.
Welcome to BP @Andrew Fenton . Keywords are awesome as Brandon said (don't forget to type in zip codes you are interested in as well as words) and if you don't already know about the Podcasts then I would highly recommend them. So much valuable information in every episode. Hope you reach your goal!
Welcome to BP @Andrew Fenton ! Take some time to look into investing in the middle Georgia area. I am an investor and realtor in this area (Warner Robins/ Houston County and surrounding areas) and I feel like there is huge potential here. I hope that BP continues to help you reach your goals in real estate investing.
Hello @Andrew Fenton and welcome to BP. At BP, you can connect with other real estate investors while getting the information you need on real estate. You came to the right place and I wish you all the best. You are not alone in your real estate ambition.
Thank you all for your advice I'm taking it all in and applying most of it where I can.Keep it coming
Best advice I can give, which no one ever gave me would be to focus and be as specific as you can be. Just a cashflow number is like 1 leg of a 3 legged stool.There are 5 strategies to investing in real estate in my opinion. Nothing will stand on one leg and an investment strategy and business plan will not stand on cashflow alone. It can be one of the factors but not the only factor. When I first learned and got involved in investing I was just looking at cashflow, and while that is important I soon learned my lesson by purchasing 35 of the wrong properties based solely on cashflow and not looking at the big picture.
My advice is come up with a 5,10,20 year goal and start working backwards, the cashflow is the smallest part of the equation in my view. Look at long term wealth and what strategies you need to get to that goal
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