Hi, newish to real estate, looking to network and learn

Hi, newish to real estate, looking to network and learn

Member since 2018 · 9 posts · 2 votes

Hi BiggerPockets, 

My name is Isaac Baron.  I am a "retired" professional poker player, I have been fortunate to do fairly well over the years in poker, but I have become disillusioned with playing the game for a living, and feel like it is time for a change. I am looking to get into real estate investing, specifically flips to start out with.  I have some capital that I am willing to use to invest and I have done somewhat of a deep dive over the past couple months into real estate, including working towards getting my license (exam in a couple weeks) and I feel that I have a much better grasp on how this business works than I did just a short while ago.  However, I still don't feel confident enough in my knowledge and experience to go out and start investing quite yet.  I am looking for any and all advice or tips that you fine people could share with me in order to get me over the hump and take the next step.  The main things that I am struggling with at the moment are finding deals and how to find good contractors without going through too much of my own trial and error and bad contractor experiences.  Also, I am located in the Los Angeles area if that matters.

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Realtor · Fresno, CA · Member since 2013 · 471 posts · 225 votes
7y

Hi Isaac - welcome to the forum. There are many opportunities in real estate and I think it's great that you have decided to put your hat in the ring.  If you would like to meet other investors and network then it is a good idea to start attending local investor meetup groups. You can learn a lot from other experienced investors as well as start to build your buyers lists and  connect with wholesalers, lenders, and contractors - all connection that will be valuable to you when investing in real estate. I've been running a local meetup for the last 3 years, but there are also a few others right here in Fresno that have some great people to connect with. If you have time - maybe we could get together over a cup of coffee the next time that I am in the LA area and talk  about what it's going to take to get you kicked off with real estate investing.  I also have some resources for you to take  a look at if you are deciding to get your license. Feel free to reach out to me - have a happy Thanksgiving!

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  • Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes
    7y
    Originally posted by @Isaac Baron:

    Hi BiggerPockets, 

    My name is Isaac Baron.  I am a "retired" professional poker player, I have been fortunate to do fairly well over the years in poker, but I have become disillusioned with playing the game for a living, and feel like it is time for a change. I am looking to get into real estate investing, specifically flips to start out with.  I have some capital that I am willing to use to invest and I have done somewhat of a deep dive over the past couple months into real estate, including working towards getting my license (exam in a couple weeks) and I feel that I have a much better grasp on how this business works than I did just a short while ago.  However, I still don't feel confident enough in my knowledge and experience to go out and start investing quite yet.  I am looking for any and all advice or tips that you fine people could share with me in order to get me over the hump and take the next step.  The main things that I am struggling with at the moment are finding deals and how to find good contractors without going through too much of my own trial and error and bad contractor experiences.  Also, I am located in the Los Angeles area if that matters.

    Decide which kind of investor you want to be (SFR, Commercial, Land, Tax Liens, Passive, HML, Multi-Family, Notes, Fix & Flip, Buy & Hold, "Subject To", apartments, duplexes, assisted living, REOs, Foreclosures, Short Sales), etc. Decide how much money you have access to, & the zip codes, city or state you want to focus on. That will determine the next step. Outline where you want to be in five years. Put it all in writing. Start working your plan. There are plenty of people around to help you each step of the way.

    You can see one way to proceed at:

    Average Cash Flow Per Door In Phoenix Metro Area

    https://www.biggerpockets.com/forums/600/topics/58...

  • Member since 2018 · 9 posts · 2 votes
    7y
    Awesome! Thanks Sam.  This may be a silly question, but where would I go about finding wholesalers if I have little to no connections at this point.  Are there wholesalers here? Or do I have to find them at local real estate meet ups?  

    Thanks,
    Isaac

    Originally posted by @Account Closed:

    I think its great that you're looking to get into the real estate investment game. I think a great place to start is building a team around you, contractor and lender. The best way to do that is researching in your area or putting some feelers out in your areas forum on BP. When it comes to finding deals I highly recommend using wholesalers as a good one can find you a large sum off-market deals you wouldn't be able to find anywhere else. 

  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    7y

    Welcome aboard Isssac!

  • Realtor · Fresno, CA · Member since 2013 · 471 posts · 225 votes
    7y

    Hi Isaac - welcome to the forum. There are many opportunities in real estate and I think it's great that you have decided to put your hat in the ring.  If you would like to meet other investors and network then it is a good idea to start attending local investor meetup groups. You can learn a lot from other experienced investors as well as start to build your buyers lists and  connect with wholesalers, lenders, and contractors - all connection that will be valuable to you when investing in real estate. I've been running a local meetup for the last 3 years, but there are also a few others right here in Fresno that have some great people to connect with. If you have time - maybe we could get together over a cup of coffee the next time that I am in the LA area and talk  about what it's going to take to get you kicked off with real estate investing.  I also have some resources for you to take  a look at if you are deciding to get your license. Feel free to reach out to me - have a happy Thanksgiving!

  • Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    7y

    @Isaac Baron

    Welcome to BP.

  • Real Estate Agent · Falls Church · Member since 2012 · 2k+ posts · 1k+ votes
    7y

    Hello! @Isaac Baron

    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 :)

  • Member since 2018 · 9 posts · 2 votes
    7y

    Awesome, appreciate the responses guys.  really appreciate the long response Brandon and look forward to reading through those posts shortly.  One more question I had for anyone with experience in flipping homes, is what is your guys' take on flipping long distance?  From the reading/asking questions I have done I have gotten very mixed responses ranging from "not a big deal" to "avoid at all costs."  I have some contacts in a place that is far away from where I am located with agents and contractors who worked on a couple rentals that I own in this place and I have had nothing but good experiences with both parties.  Also, this place is much cheaper than where I live and the surrounding areas.  Curious to thoughts on whether this can be pulled off successfully or I should just keep it simple and stick to my area.

    Thanks again,

    Isaac

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