New member from Montgomery, AL

10 Replies

Hi everyone, I am a new member from Montgomery, ALABAMA. I am very excited to be on this platform. Looking forward to learning all they is and making great connections in the process about Real Estate investing. Very curious and eager connect so looking for help, advise and mentors.

Hi @Brighton Masuka !  Welcome to the BiggerPockets family! You came to the right place to learn all about real estate investing! Here are some recommendations for you:

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@Matt Engle Thank you for response, my goal is to reach financial freedom In the shortest time possible by using real estate as an investment vehicle, having the ability to be flexible and live the life I want and be around my family as much as possible, support my parents/famil y and build a community in my native country of Zimbabwe. Initially to be an investor, a lender and assist other new members on this forum and be a mentor to others.
@Brighton Masuka those are terrific goals! It sounds like you have a clear vision of where you want to be. In my opinion, the fastest way to reach financial freedom is to start with apartment investing from the start. I started with single family homes thinking that experience would help me invest in apartment buildings, but I eventually learned that you don’t need money or experience to start investing in apartment buildings and a single family track record wont help much. A great introduction that provides actionable steps to get started is Michael Blank’s book “Financial Freedom with Real Estate Investing.”
@Matt Engle Thank you very much for the info, I will surely look for the book and read it and will get back to you once I’ve. Also, the advice to go with apartments compared to single family homes. So have you switched to apartments or still doing single family homes? What are the pros and cons of the two from your experience?
@Brighton Masuka we still have 3 single family rentals that we’re maintaining but our focus is on acquiring apartments. Our reasons for going after apartments are 1) they are more risk tolerant. If you have a vacancy in a single family rental, you have to pay the mortgage and expenses yourself until you get a new tenant. If you have a vacancy in a 50 unit apartment building, your Cashflow will go down a little bit but it won’t kill you. We usually underwrite our deals assuming 10% vacancy so if it is better than that it works out well for us. 2) you can force appreciation. Unlike single family homes, if you increase the NOI on an apartment building, you have instantly increased the value of the building by a nearly exponential amount (exactly how much depends on the going cap rate for the area). And 3) you can scale your investing business quickly by using private money to fund all your deals. Hope this helps. Good luck!

Hello! @Brighton Masuka

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:

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

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.

I have other blogs that may be helpful here on BP in my personal blog that you can check out. Good Luck :)

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