Tips and tricks for beginners like me just starting out

4 Replies

Hey guys! So I have been listening to bigger pockets for I wanna say about 4-6 months now, and currently reading rich dad poor dad. I am 25, and been living in DFW area for a little over a year now, and managing an Anytime Fitness. I have super good credit, but mostly focusing on increasing my financial IQ. I am interested in multi family homes, but also thought about buying a foreclosure and doing the BRRR method to it to start?!? I don’t know! Tips and tricks for beginners like me?

Hi Ravonne,

It sounds like you're on the right path. Keep up with the educational side, figure out exactly what type of property you want to start with and find your first project. It's not easy in DFW to get a deal right now, so don't get frustrated if you don't get one right away. Keep making offers and you'll find something. If you need any help, PM me. I stick mostly to Denton county but I know certain parts of DFW well enough. 

Why not try a BRRRR on a multifamily?

Hey Troy! I don’t know how to PM on here! & That is what I want to do is a BRRR on a multi family but I honestly haven’t got myself to go talk to a bank or even really look yet, I am actually in Denton county!! I mostly just listen to podcasts and submerge myself into as much as I can to learn cause I work full time and also want to save up more before going to a bank!

@Ravonne Evans having used to live in dfw: watch property taxes and verify those. Watch for hail Damage and insurance costs.

Don’t spend to much time on things like forming llcs or trying to think of the best strategy.

Hi Ravonne, I am investing in multifamily properties in DFW. Shoot me an email and we can chat. 

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