Don't know where to start

5 Replies

Hi Cora! Welcome to BP! Tons of info here. I'd recommend consuming the podcasts to start. There are several that deal with getting started. I bought my first property in October and BP was the guiding light for me.

@Cora Garvey

Hi Cora! My advice is to start with "The Ultimate Beginner's Guide to Real Estate Investing." Hover over the Education tab in your browser, click on "Guides," and it's the first one on the webpage. It's 53 pages of solid information. Read the other guides if they catch your interest, then start going through the podcasts and looking at the blogs. The forums are always there for specific questions, and if you can't find what you need on offer immediately, do a search and see what pops up. If you're still getting nothing, just ask your question in the forums and you'll get an answer.

When you find a forum post that makes sense to you, take the time to research the person who posted it and read some of their other posts. That will help you judge if you should really pay attention to what they're writing. It is, after all, free advice, and often worth exactly what you paid for it.

Good luck to you!

@Cora Garvey Welcome to BP!

Here are resources I recommend to newcomers (not paid for mentioning anything in this post:)

Personal Finance

I strongly suggest learning as much as possible about personal finance (if you haven’t already) as I believe strong personal finances is the foundation for a strong real estate portfolio. For starters, BP even has a Money Podcast now!

Software that’s helped me personally:

YNAB – zero based budgeting system and software; their philosophy will help you get out of debt and no longer live paycheck to paycheck

Personal Capital – a high-level net worth tracking software

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 113Jay 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 Linda Weygant

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

Guides

Ultimate Beginners Guide, Forum Stickies, BP Calculators or spreadsheets uploaded by members

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

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