New to Real Estate Investing

6 Replies

Hello, my name is Garrett Hicks and I am in Lakeland, FL. I recently joined BP and want to get into real estate investing. I am currently saving up money to make first rental property purchase. I have also been playing with BRRR Calculator to get an idea on how it works.

So, I am reaching out to all those experts and novices that have tips, advice, and any form of help I would benefit from.  Thank you in advance and look forward to learning from you!!!

@Garrett Hicks

Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

Wishing you the best!

Welcome to BP & REI. You should consider getting roommates while you live at your first place. If purchased right they should be able to cover your mortgage and possible a little profit.

Remember the correct numbers don't lie.

Play with the BRRRR calculator a lot and understand it. Setup an alert on Redfin or realtor.com to start off with. Every email you get crunch the numbers. If they don't look like good numbers what would the purchase number need to be for it to be a good deal.

@Garrett Hicks , they are right.  Go to the PCREIA meetings and try to find the people who are actually doing deals.  The best way for a newbie to learn what a deal is or isn't is to run them past experienced investors.  They will probably depress you in the beginning as they tell you why deals that you think are good are really not, but that's much better than buying properties and then losing money on the deal after spending a lot of time, effort and heartache on it. 

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