Hey everyone! I'm extremely excited to be here. I've been listening to the podcasts for a while now and have learned a tremendous amount.
I currently work as an Audio Visual Technician for a company based in Clearwater, FL. We work in new construction alot so I'm very comfortable in that setting. I have no real estate investing experience, however, my wife and I did just buy our first home out in Largo, FL.
I want to invest in Pinellas County but don’t mind trying out long distance strategies. I'm leaning more towards multifamily properties but I really just want to find some good deals and get started. I'm excited about how real estate can take my family to financial freedom, a place we never really thought we could go.
Happy New Year! I wish everyone the best this year!
Keep listening to as many podcast as possible and invest time learning from others here by reading and following threads you are interested in. Decide what part of real estate you want to participate in, Are you looking to be a rehabber, wholesaler, rental investor. There is opportunities out there, find someone in your area you can bring some value to, learn to identify what "a good deal" should look like in your area.
Keep listening to as many podcast as possible and invest time learning from others here by reading and following threads you are interested in. Decide what part of real estate you want to participate in, Are you looking to be a rehabber, wholesaler, rental investor. There is opportunities out there, find someone in your area you can bring some value to, learn to identify what "a good deal" should look like in your area.
Real Estate Agent · Boston MA · Member since 2018 · 25 posts · 15 votes
7y
Hi Marquis. I specialize in selling investment properties. One thing I think you should consider is that multi family projects can be risky for New investors. A huge majority of the investors I work with want multi family properties because they are afraid of uncertainty in the market and believe multis are a good way to hedge their bets and ride out this time of uncertainty. Good idea, but it means that I’ve seen huge amount of competition for these properties, driving the prices up. If you’re not an expert you may end up paying more than you should. I understand you just bought a house so you won’t be house hacking right? My other concern is that multi families take longer to rehab so you will be paying more money in interest if you are using hard money. You should definitely start speaking with your bank as soon as possible so that they know your intentions and are ready to help you refinance your rental properties. Feel free to message me with any questions you have in the future.
Realtor · PInellas County Largo, FL · Member since 2016 · 902 posts · 810 votes
7y
Welcome, and I'm always glad to see people in Largo! Definitely start looking at everything you can and analyze everything to see if it's a good fit for buy and hold or a flip. You will get a ton of practice and you'll start to see what the market looks like in different areas.
Realtor · Rocklin · Member since 2016 · 128 posts · 67 votes
7y
HI @Marquis Davis! 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 in your target area. With lots of practice you will be able to identify a good deal quickly and jump on it when the opportunity presents itself.
Thank you all for the advice! I didn’t expect to get so many responses so soon. Could any of you point me to a good blog posting or forum for analyzing deals? Brandon always talks about analyzing 10 deals a day and I definitely see the benefit in that. If anyone has any recommendations, that would be great so I can supplement what I find and hopefully discover some things I couldn’t find.
Thank you all for the advice! I didn’t expect to get so many responses so soon. Could any of you point me to a good blog posting or forum for analyzing deals? Brandon always talks about analyzing 10 deals a day and I definitely see the benefit in that. If anyone has any recommendations, that would be great so I can supplement what I find and hopefully discover some things I couldn’t find.