Newbie Open to Advice

11 Replies

Hello BiggerPockets World, I am absolutely new to REI and have found BP to be an excellent learning resource to begin my journey. At the moment, I've found an interest more so in SFH rentals (preferably fixer-uppers) and my appeal goes out to anyone willing to guide me in this pursuit. I currently reside in Brampton, Ontario and I'm open to markets outside the GTA for obvious cost reasons.

As mentioned, I'm still very new and learning so not quite ready to invest but readily open to ANY advice on this matter or just in general which will be greatly appreciated and Thank You in advance!!

In the mean time, all the best to everyone. Stay safe & take care.

Cheers!!

Hey Yusuf im a new investor myself so welcome goodluck on your journey. Since your working with a time frame your really in a good spot to keep on learning (currently what i am doing also). You can look into joining the Local Real Estate Forum and try and find Q&A's from people investing in your area. This is also some steps the moderator's tend to share to make it a better experience for you on the platform. You've probably looked into all of this already but just sharing.

1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

2. Then check out other online guides available here: https://www.biggerpockets.com/guides

3. Have a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

4. If you wish to network or ask specific questions about your local market, you can go to your local real estate forum and discuss with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

5. Or you can directly meet them by registering to real estate events around you: https://www.biggerpockets.com/forums/521-events-and-happenings

6. Finally, BP has various tools available to help you analyze your deals (rental, flips, wholesale, etc), feel free to use them: https://www.biggerpockets.com/investment-calculators

Hi @Adaora Nwogbo I really appreciate your time & input. I'll be sure to visit those links. I didn't realize how quickly time flew by as I've been on here literally all day sifting through articles and familiarizing myself with various features of the site. Not complaining just overwhelmed but in a good way. Its just good to have a sense of direction as it saves for a lot of time. 

If you don't mine I ask, whats the market like in Texas? What cities are you considering investing in & why? And what type of investments are you interested in (SFH/MFH, Flipping etc) ? Thanks again, Take care !!

Completely understand BiggerPockets has been in business since 2004 so imagine the wealth of knowledge. It gets overwhelming but exciting for a new investor. But if your motivated you soon start to understand some of the lingo. You can also subscribe to the YouTube channel if your a visual person. The videos provide alot of slides and you get to hear personal experiences too. Some of their podcast are featured on the YouTube channel so its a quick shortcut.

So Texas is quite a good area if you are trying to get a bang for your buck compared to places like Seattle, LA etc those higher markets. You can really find houses here at good deals you just have to have an eye for it. Honestly still new so cant really go to in depth as the experienced investors go giving a better layout of the land and good places to look into

Im looking into multifamily properties and looking to adopt the buy and hold strategy. Im still learning but i pay attention to the forums and look at what experienced investors are looking at. If they keep mentioning one place more than once in similar posts then thats possibly a good place to be in and then i need to learn how to better analyze and learn more of the lingo from there. So honestly the answer to that question is im following the path of the successful to use to learn and then adopt my strategy. I personally stay in Arlington so i already know DFW side is a popular place so im looking into that area just need to narrow it down more. The investors keep talking about Temple, Belton and Killene, TX you can actually do a conventional loan and look into an FHA loan in another area just because of those places (good moderate housing prices) there are more creative strategies apart from what i mentioned.Anyways im a long typer. Hopefully that answers your questions. Thanks


 

Again, thank you for the pointers Adaora, I appreciate that. I would like to one day invest in the US & Texas may be an excellent place to start so please keep me posted with your progress. All the best to you, be safe & take care we'll chat so.

Thank You!!

No problem. My mom started in Nigeria but now is looking at US especially TX so your not wrong to have the mindset. Will do. Good luck on your side also. Happy learning and investing.

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