I am very new to investing and wanted to get advice on where to start. I live in Hawaii, but I'm interested in investing in the Mainland as well as Hawaii.
Contractor · College Station, TX · Member since 2015 · 113 posts · 38 votes
9y
Shyanne Lecker-Agnew Well, for me, I'd make a plan.
So I'm on the back end of doing this for my general contracting business. I would write Standard Operating Procedures: which is basically writing down the way in which you will do things in your business.
For me, this made me think critically about ever step of the process. This will help you treat investing like a business.
Next I'd pick my first market. Specifically. This way you can start networking in that area to score your first deal (texas is an amazing state to invest, balanced budget, cheap property, plenty of people to rent).
But as of today, I'd connect with every mover and shaker I could find on this website. These people are amazing.
Investor · Kapolei, HI · Member since 2016 · 34 posts · 14 votes
9y
Shyanne,
Welcome to BP. really great to see another person from HI is in the BP community were we can bounce off ideas from one another, which is awesome. Investing on the mainland, I am currently communicating with various BP'ers in certain areas on the mainland that I am interesting in purchasing properties, preferably BRRR or buy and hold. Here in Hawaii I have properties and always s looking for more, but the prices are ridiculously high and you have to research just a bit more. To answer your question, in my perspective, start off by doing research and know what strategy that you'd like to specialize in. it'll take time, here are some examples listed below for interest, but there are many out there to choose from:
BRR strategy (Buy, Rehab, Rent, Refinance) I like this one!!
Buy and Hold
Flipping
Wholesaling
Again, find the strategy that you wouldn't mind getting up everyday and being excited knowing what you are looking for to. Or the opposite, not knowing your strategy and don't know were to begin and wasting time when there are properties out there and you don't know where to start. Welcome to BP and If you have any more questions, you know where to find me. Aloha
Investor · Honolulu, HI · Member since 2016 · 362 posts · 93 votes
9y
Welcome to BP @Shyanne Lecker-Agnew. You've come to the right place to learn about real estate. I joined the forums back in March and have learned a ton of valuable info. Networking is key and you should start to do that as soon as you can. Through networking, I was able to close on my first deal late last month and am eager to acquire my second. Good luck to you.