Trying to learn the ropes to my first real estate deal

3 Replies

Hey BP,

My name is Brock and I am looking to start my Real Estate Investing Journey.

A little bit about myself.

About three years ago, I started getting into reading books, mainly personal development books. In my first year of reading, I fell in love with reading and read roughly 25 books while studying Electrical Engineering. I graduated 2 years ago and have been working now for a little less than that making solid money as an engineer. After my first year of working I had less than $1,000 in savings when one of my close friends making roughly the same amount saved $10,000. I knew I needed to get better at my own finances and get smarter with my money. I started putting my focus on finance books and podcasts and started to develop much better spending habits. I went from saving 1K in the first year of working to about 5K in the first 6 months of my second year. That combined with a graduation gift from my grandma for investing, I have about 15K, mostly in index funds. I read some of the real estate investing motivation books that everyone knows and loves and my interest in real estate has grown greatly.

Having about 15K in the bank and saving about 1K per month, I will have about 20k by the end of the year. I currently live in Orange County California, so as everyone already knows investing in my local market is tough. I understand the approach of house hacking into a 2-4 multifamily, but upon first glace it is tough to find anything. I will continue to look to do house hacking but want to start focusing on learning about out of state investing. I am currently reading David Greene’s Long Distance Real Estate investing to learn the basics.

I would greatly appreciate any advice or book recommendation on the topics and if anyone who is local, I would love to chat and maybe meet up for a cup of coffee.

I try to listen to a least 5 podcast shows a week from BP.

Thank you,

Brock

@Brock Pellerin welcome to BP. There are several local Meetup groups here in Lake Forest, Irvine, Orange, and Laguna Hills that you can check out and meet with other investors. Happy to grab a cup if you wish.
Good investing.

@Brock Pellerin hello and welcome to BiggerPockets!

Thanks so much for reaching out to us. Glad you are here! Take advantage of all the free resources and networking opportunities here on BiggerPockets!

It’s a good start toward getting your deals done correctly.

Happy to help any way I can. Feel free to PM me at your convenience.

Congratulations and I wish you a ton of success in your real estate investing career, Brock.

Hey @Joe Homs , thanks! I will start looking into meetups and start attending! What is your knowledge of people trying to House Hack in Orange County? I'll PM you on looking into meeting up for coffee.

@Jack Butala Thanks! Just trying to save as much money as I can at the moment and consume as much as info as possible.

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