How to get started? or how did most of you started?

9 Replies

I am new to the forum and dabbling with the idea of being an rental property owner, but it does look and sound overwhelming. I am not sure where to start? 

I am hoping to learn from those of you here and hopefully be able to connect? is there is local chapter which meets occasionally or something that I can come to?

@Sid Chaudhury

Become a sponge. You can learn a lot here, but there are other resources as well. Go to local REIA's and network. Many REIA's will conduct property tours of there projects and go over the numbers. Acquisition, rehab cost, financing and more. Even if there flips you can gain a tremendous amount of information at no or very little cost. I spent my first year learning and then dove in. Podcast will also help. I listen to a number of them and can learn a great deal from them.

Good Luck.

Originally posted by @Kenneth Garrett :

@Sid Chaudhury

Become a sponge. You can learn a lot here, but there are other resources as well. Go to local REIA's and network. Many REIA's will conduct property tours of there projects and go over the numbers. Acquisition, rehab cost, financing and more. Even if there flips you can gain a tremendous amount of information at no or very little cost. I spent my first year learning and then dove in. Podcast will also help. I listen to a number of them and can learn a great deal from them.

Good Luck.

Thanks for the suggestions. How do I find a local REIA's? I do want to learn before I dive in, just like what you did.

@Sid Chaudhury

2 local Reia’s 

1. Delaware real estate investors association  -meets once a month in New Castle

2. Greater Wilmington Housing Providers - meets once a month in Wilmington Riverfront. 

Google both for more info. 

Hey, I'm also from Newark DE. I will be happy to answer any questions you may have. I have had my share of tenant damages, evictions etc, so you can learn from my mistakes :)

@ Eric Armstrong - Thanks for the 2 local REAI's, have you personally attended any of these meetings? 

@ Rumen - Anything you can share would be great.

Does anyone knows, whos developing those multifamily units in the UD area? along Elkton rd and also next to HD. 

It all looks the same alteast on elkton rd, so wondering if its the same developer?

How does one get into a multifamily unit (maybe multiple investors, syndicate investing)?

Hi Sid, read as much as you can. Great blogs here on this site, posts, etc. the podcasts are helpful. This is how we get started- learning, listening, etc. But you need to figure out which strategy best fits your talents, goals, stage in life, etc. 

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