Newbie to real estate investing from Rosemead, CA

Newbie to real estate investing from Rosemead, CA

Rosemead, CA · Member since 2016 · 6 posts · 1 vote

Hello everyone! 

My name is Sophia Duong I'm looking for a way to invest the money that I've saved over the past couple of years in hopes of building a supplemental income stream in addition to my 9-5 sales job. I have been reading books, listening to podcasts, watching webinars, etc. and have dabbled in a few things here and there but ultimately have come to the conclusion that real estate is the superior route in building long term financial wealth. 

Thus far, my experience is very limited but I've been trying to follow some of the tips that the BP folks have been suggesting for newbies like me such as reading real estate books/their guides, looking at local listings (even though I have no idea what I'm looking at really...), going to networking events (just signed up for one next week on the BP events page!), and of course, being an active forums contributor, starting with this post here! 

I'm eager to learn as much as I can to get started and am hoping to find other like minded individuals in my area to connect with via this forum. My hope is to jumpstart a career in the real estate field and have my best year yet in 2019! I'm very much looking forward to meeting everyone here at BP and to eventually be a frequent contributor myself in the future when I become more of an expert in real estate space. 

Sincerely,

Sophia Duong

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

    @Sophia Duong

    Welcome to Bigger Pockets. You have come to the right place to learn and to connect with others.

  • Rosemead, CA · Member since 2016 · 6 posts · 1 vote
    7y

    Thank you @george blower!! I am excited to get this going!

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    7y

    Welcome to the BP family @Sophia Duong ! Good to have you here!

    Here are some recommendations for you:

    Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best! 

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

    Hello! @Sophia Duong

    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 :)

  • Realtor · Rocklin · Member since 2016 · 128 posts · 67 votes
    7y

    Hi @Sophia Duong  Glad you found BP! There's an unlimited wealth of knowledge to be found in these pages to help kickstart your journey!

    A few words of advice for you...

    If you haven't already, make it a priority to get out a local Real Estate Investors meet-up. Interacting face to face will help tremendously with forming those critical relationships to aid your progress. Experienced investors will want to help you if you show initiative, drive, and genuine interest. Focus on how you might be able to help them in their business!

    Avoid the "shiny object syndrome" by narrowing down your niche as soon as possible. Be very specific about what you are looking for.

    Use the BP calculators every day to run the numbers on prospective deals. With lots of practice you will be able to identify a good deal quickly and jump on it when the opportunity presents itself.

    Good Luck!

  • Rosemead, CA · Member since 2016 · 6 posts · 1 vote
    7y

    @

     Thank you so much for these resources. I am checking them out now! Also, love to see that you're not too far from where I am! How is the OC market for you?

  • Rosemead, CA · Member since 2016 · 6 posts · 1 vote
    7y

    @Brandon L. Thanks so much for these posts Brandon, so glad to have the chance to connect with someone who contributes so much to this community. The post about finding an agent is going to be so helpful! Thanks so much again for your help! 

  • Rosemead, CA · Member since 2016 · 6 posts · 1 vote
    7y

    Thank you so much for the feedback Kim! I am actually planning on attending a local meet up next week and am so excited!! And yes I completely agree, nothing beats face to face ineractions. Ive tried using the calculator once and it seems like a really good tool! Do you have any suggestions on what I can read up on to learn more about what would be a good deal or a bad deal? Quite frankly I don't understand fully the numbers I'm looking at yet but am trying to learn via books/classes. If you have any pro tips though, I would greatly appreciate the insight! Thanks so much again for your response! 

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