First thing I would do is check out the Ultimate Beginners Guide. Read all the way through it, and it will give you a good place to start. http://www.biggerpockets.com/UBG
Start by building a plan. What kind of investing do you want to do? Fix and Flip, Buy and Hold, BRRRR, Wholesaling? Figure out what you are most interested in, then refine your plan from there. Say you want to Buy and Hold rental property. What kind of property? Land, Single Family Homes, Multi-Family homes? Figure out your plan and write it down.
Then start doing some research into that strategy.
How are you planning on Financing your investment properties? There are tons of different methods of financing properties for different strategies. Find the ones that work best for you and what kind of strategy you are interested in.
There are TONS of tips on the BiggerPockets Podcast.
Every Wednesday, BiggerPockets hosts a free hour(ish) long webinar. You can find it and sign up on your Dashboard. I also really recommend PRO because you can watch all of the past webinars. They are incredibly informative!
Also, there are a ton of books that are worth checking out. If you are interested in rental properties, definitely check out "Rental Property Investing" by Brandon Turner.
J Scott has an incredible book for house flipping if that's what you're interested.
If you have questions at all, everyone here on the forum are super helpful!
First thing I would do is check out the Ultimate Beginners Guide. Read all the way through it, and it will give you a good place to start. http://www.biggerpockets.com/UBG
Start by building a plan. What kind of investing do you want to do? Fix and Flip, Buy and Hold, BRRRR, Wholesaling? Figure out what you are most interested in, then refine your plan from there. Say you want to Buy and Hold rental property. What kind of property? Land, Single Family Homes, Multi-Family homes? Figure out your plan and write it down.
Then start doing some research into that strategy.
How are you planning on Financing your investment properties? There are tons of different methods of financing properties for different strategies. Find the ones that work best for you and what kind of strategy you are interested in.
There are TONS of tips on the BiggerPockets Podcast.
Every Wednesday, BiggerPockets hosts a free hour(ish) long webinar. You can find it and sign up on your Dashboard. I also really recommend PRO because you can watch all of the past webinars. They are incredibly informative!
Also, there are a ton of books that are worth checking out. If you are interested in rental properties, definitely check out "Rental Property Investing" by Brandon Turner.
J Scott has an incredible book for house flipping if that's what you're interested.
If you have questions at all, everyone here on the forum are super helpful!
Real Estate Broker · Lehi, UT · Member since 2016 · 397 posts · 318 votes
8y
@Jathan Bingham Exactly what @Account Closed said! You definitely want to have a solid plan before you begin. I would recommend talking with other local investors that are doing whichever path in real estate you decide and see what has made them successful. It is also a good idea to start analyzing deals now so that you will know a good deal when you come across one.
Realtor · Provo, UT · Member since 2016 · 119 posts · 73 votes
8y
Unless you are starting out with a ton of cash, I recommend that you buy something simple like a 3 BR townhome using an FHA or 5% down conventional loan. If the monthly payment is high for you just bite the bullet and take on a roommate for the first year. Once that year is up you can fully rent it out and buy another one with 5% down. If you just do that, and you don't start buying fix-n-flips (1 bad 'fixer' purchase and you could be wiped out) for a few years you will build a nice foundation. Then you can get more creative or start looking at fourplexes.
Attorney / Investor · Salt Lake City, UT · Member since 2015 · 228 posts · 198 votes
8y
All good advice. While BP has great info, there is no substitute for local information from local investors! We have MANY REIAs that are fantastic educational and networking opportunities! Utah Valley REIA is in Orem. You can web search them and the ones up in SL County, or I can put you in touch. We are also happy to chat with you about the ins and outs of getting started. Just let us know!