Getting started and ready to hit the ground running!

9 Replies

Hi all, 

My wife and I are new to this forum and real estate investing.  We are both full time professionals and looking to generate passive income so we can slow down a bit and enjoy time with our new son. Currently, we are looking at San Antonio and Orlando to invest and are focusing on single family homes. At this stage we are just trying to learn as much as possible and establish relationships with people in those areas. We are open to all advice, so please let us know how you would recommend getting started, as getting the first home seems to be the hardest.  Look forward to hearing from you. 

Hey Andrew,

Orlando is a great market to get started. Actually its rated by several sources as a top city to invest in real estate for several factors I'm sure you are aware of. With that said it would help to know a little more about your goals. Do you currently live in Orlando, have you considered house hacking? Are you out of state and need advise locating areas to target? Are you looking for turn key houses to rent, or distressed/ fixer-uppers to buy low, renovate and rent out. I am a local investor and agent myself and would be more than happy to help answer any questions. With all that said, welcome to the community and great choice not only deciding to invest in real estate, but also picking Orlando as a potential fit to do so. 

@David Baier Hi David, sorry for interrupting Andrew's post but I thought I would reach out to you as I am in their same situation. I am considering investing in the Orlando area market. I am out of state (Hawaii) and the research I have done so far has lead me to believe Orlando is a good market for what I am trying to do. Plus, I have family in southwest Florida so it would give me a reason to get that way more often. I have done a few flips here in Hawaii and I have some rentals in Indianapolis. In Orlando, I am looking for buy and hold properties that need work with good price to rent ratios. With that said, I would love to hear your take on the Orlando market. Please feel free to PM as well if you'd like. 

Thanks!

Hi David,

Thank you for the post. We are looking for single or multi-family properties to buy and hold. As we are just getting started, we would prefer turn key houses to rent. We are out of state as well. Thanks.

@Andrew Pakchoian Do you plan on going the turn key route or doing it all yourself? That will make a difference in how you get started. The biggest piece of advice I can give you is to study and learn your market at the ground level. Know the neighborhoods well. Define what class of neighborhood and property you are most comfortable with and make sure that whatever property you are buying fits your criteria. The biggest mistake you can make is buying in the wrong neighborhood. Any other mistake you make, and you will make some, you can fix. You can't fix a bad neighborhood.

Hello! @Andrew Pakchoian

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp



The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent. There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

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