New and excited to be a part of BP

New and excited to be a part of BP

New to Real Estate · Riverside, CA · Member since 2018 · 11 posts · 5 votes

Hello BP community.. My name is Rick, I am new to the real estate investing industry. Going on about 3 months now since I began my learning venture. Myself and my girlfriend did what most other investors say not to do which is spend money on guru seminars. Although we formed up a hefty amount of money, I believe the knowledge passed on to us was still well worth it. Our goal now is to take our learning materials and tools to continue our search for knowledge and gain experience working with mentors and other like minded individuals in the industry. Our goals are to begin wholesaling properties to build up our capital and then move on to fix and flips and buy and holds. We connected with the IERIC and have been expanding our knowledge and networking with them since May 2018. We hope to meet many more partners and mentors through BP and we are excited to continue our quest. Thank you🤙🏼

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  • Michael S.Pro Member
    Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
    8y

    You're having a great start Rick and all the best in your investing. 

    BiggerPockets
  • New to Real Estate · Riverside, CA · Member since 2018 · 11 posts · 5 votes
    8y

    @Michael S. thanks mike, I appreciate the confidence booster

  • Rental Property Investor · O Fallon, MO · Member since 2018 · 10 posts · 2 votes
    8y

    Welcome and good luck. My brother and I are fairly new to BP also.  I have gained a ton of knowledge and tools from the BP podcasts.   

  • Tax CPA · Charlotte, NC · Member since 2014 · 215 posts · 186 votes
    8y

    Hey @Rick Villarreal glad to know that you have a positive outlook on the money spent. 

    Here are some of my favorite resources:

    If you haven’t already listened to the podcasts I’d start there.

    Podcasts

    Episode 108 - Grant Cardone... Just listen…

    Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...

    Episode 113 – Jay Papasan - Very practical slow and steady advice

    Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k

    Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

    Amanda Han

    Brandon Hall

    Tax Reform Update – Brandon Hall and Amanda Han

    Linda Weygant

    Guides

    Ultimate Beginners Guide

    Forum Stickies

    BP Calculators or spreadsheets uploaded by members

    My Favorite Books

    I have to say all of the BP books…right? :)

    The Millionaire Next Door

    The Millionaire Real Estate Investor

    What Every Investor Needs to Know About Cash Flow

    Hope this information can give you a good start. Feel free to reach out with any questions. 

  • New to Real Estate · Riverside, CA · Member since 2018 · 11 posts · 5 votes
    8y

    @Account Closed Josh you don't know how much I appreciate your advice on these recommended educational materials. I have been listening to the podcasts for the past 2 months starting from #1 and the benefits you can get from the 1st person points of views and real world experience is priceless. Once again thank you very much for the help.

  • Tax CPA · Charlotte, NC · Member since 2014 · 215 posts · 186 votes
    8y

    @Rick Villarreal not a problem. Definitely get your personal financial situation stable so you have a good foundation to leverage off of for years to come.

  • Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
    8y

    @Rick Villarreal Since you're planning to wholesale, I'd recommend going to REI networking events. And not just to one group, rather to many. Find the ones in the drive-able distance that generate a large audience and go to them. Make an acquaintance with the organizer(s) and offer help. Also build up relationship with people that offer services complementary to yours. These will include but not limited to: HML, contractors, title insurance companies, mortgage lender, RE attorneys, and etc... You can refer people to each other. If you build strong relationship and offer value to others, your business will thrive.

    Best of luck!

  • New to Real Estate · Riverside, CA · Member since 2018 · 11 posts · 5 votes
    8y

    @Alina Trigub I enjoy the REI meet ups and I agree that I need to expand my exposure to more than one and expand my relationship base. Thank you very much for the advice.

  • Valparaiso, IN · Member since 2017 · 14 posts · 4 votes
    8y

    Welcome, Rick!

  • New to Real Estate · Riverside, CA · Member since 2018 · 11 posts · 5 votes
    8y

    @Jason L. thank you Jason, thanks for the welcome to BP🤙🏼

  • Keller, TX · Member since 2018 · 68 posts · 47 votes
    8y

    Hello and welcome to BP. Congrats on your decision to create financial freedom. I would disagree with the “others” who advise against a “guru.”  My business partner and I tried RE our way and although we weren’t totally failing we weren’t creating the success we wanted. 

    We had absolutely nothing except college debt and car payments. We signed up for a “guru” course and then put a lot of real estate education on credit. 

    Then we started taking action regardless of my beliefs and what I thought was reality, my life and finances started changing. Immediately we started doing deals and doing them differently and after the first month we had paid the cost of that education back already. Then within 100 days we had over 100 doors and were closing on around 20 deals a month. We quickly bought our first apartment and then mobile home park. 

    I would love to hear more about your story. Feel free to reach out at the contact info below. 

  • New to Real Estate · Riverside, CA · Member since 2018 · 11 posts · 5 votes
    8y
    Tie Lasater Your story sounds very familiar to our story, however we have yet to find the success piece. Because of how much debt we have accumulated through our guru real estate package we’re very much hesitant on following or paying for other real estate advice. We want to put our money to paying back debt, marketing and local REIA’s. We learned a lot through our guru classes but for the money we paid it doesn’t seem like the value was given in return. Great to hear your story, and It gives us confidence to keep pressing and finding a way that can bring us success.
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