I just recently joined BP and I am extremely excited to get started on my Real Estate Investing journey. I currently live in the Reno, NV area and do not have any experience with real estate or investing.
This area of Nevada is growing at a tremendous rate due to Tesla's Gigafactory (which I work at) and other factories that are popping up. I know that there are more people that want to live here than there are houses and it is definitely a seller's market.
If anyone knows of any books, articles, blogs or any other resources that would help a new incoming investor jump into a seller's market please shoot them my way!
Welcome Jaime! I have 2 recently purchased RE investment properties in Sparks. I have to say that BiggerPockets itself here has been my most useful resource doing this stuff!
Good luck on your endeavors. I feel it’s getting a little late to the game for Reno/Sparks to find a good deal. But I’ve been keeping an eye on Carson City lately as some of the Reno/Sparks RE hysteria seems to have migrated over to there.
Welcome Jaime! There is a wealth of knowledge here on the BP site, and also browse through the past podcast episodes. They are great to listen to on your commute to keep you motivated and learn something new. Good luck!
Welcome Jamie! Check out the REI meeting tonight at 6pm at the Keller Willams Reno location. They meet once a month. I also host a Bigger Pockets meetup the first Wednesday of the month in Carson City at the Shoe Tree Brewery.
If you have any questions about the local market, let me know. I'm a real estate broker/owner in Carson City.
@Colleen McKoy How do I get notified when/where the REI meetings are? And I saw your event on BP the minute I signed up so I am looking forward to that! I will definitely be asking a lot of questions. In the meantime I will continue to listen to the BP podcast and go through the forums for more information.
@Jaime Regis the one this evening can be found on Meetup.com here is the link: https://www.meetup.com/Reno-Real-Estate-Investors/events/249867401/
Jamie. Welcome. I’m an active investor in the Carson City- Reno market. Read as much as you can on BP but jumping in is where the real education begins
Welcome BP @Jaime Regis . People tend to get stuck on one or both of the challenges below.
1.Fear, also called analysis paralysis. As @Tim Farrell mentioned above, the best education comes from “jumping in”. He’s 100% right! Real Estate investing is a HUGE topic with dozens of strategies. Learning can quickly become overwhelming if you don’t focus on one or two topics and then jump in.
Know how it works. Practice analyzing deals. A common theme and solid advice in the Podcasts is to analyze several “deals” every week, even if you aren’t ready to jump in yet. There is a whole thread on analyzing deals on BP. Look at 2 exit strategies for every deal you analyze.
Getting some (or a loan) to start out can be tough. Look into house hacking. The great thing with house hacking is that you will probably qualify for federally backed low down payment programs. The downside with these programs is something called mortgage insurance. Remember, loans are product that are sold. You are a consumer. Shop around.