Seeking Advice on Starting Real Estate Journey

6 Replies

I work as an engineer full time but I want to build a real estate portfolio of rental properties. My goal is to buy something within 5 years (in Michigan, not local here in Dallas). In the mean time Im building my savings and educating myself.

Besides books, podcasts, and videos how can i learn more about being profitable in real estate?

I would really like to network, but where and how can i do this locally in Dallas?

Come check out the Michigan Real Estate Investors - I am there every month also.  If you are still in TX then try an investor group there.   Attend their local events and seminars.  Read books recommended on this site, etc.

Where in Michigan are you looking? I'm in Lansing and we have a few groups around town that are very helpful. I second Wendy's suggestion of finding REI groups and just start going, even if it's in Dallas for the time being.

@Alan E. Assuming you want to network locally (will be hard to network in Michigan from Dallas), you should look into attending local REIA events as well as other meetups.

I would highly suggest deciding what niche you want to focus on. There are events/meetups for every single real estate strategy on the planet. You will be wasting your time going to a single family meetup if you want to invest in multifamily. 

@Alan E. Hi Alan. I’m guessing you plan to relocate to MI otherwise you probably would have picked a different state to invest in. Haha. Well, If you want to invest in MI and you know where u plan to live, start looking in that area and ask friends and family to keep there eyes peeled as well. Heck you might find a few properties while searching for your new primary. The trick is to start the discussion, with anyone, and see where it goes and to get started. Find a place u think has potential, that u can add value, and in an area capable of appreciating and dive in :). Good luck.

a alternative idea is to look for a turnkey provider that will provide the needs you are looking for.

if you learn things on the internet you need to be beware of the people on there.  I was in construction and real estate for about 30 years and would like to give you advice for no cost.  When investing do the research required and feel good about it.  Learn to just walk away from deals you do not believe in.  Do not start until you feel like you are ready.  Your feelings should only come from the people that have done what you are going to do and are successful.  Get use to hearing "no" on your offers and know that happens more than you'll hear "yes".  Education is ongoing and important. Get as much education before you get started if you can.  Contact me through BiggerPockets if you think I can help you.

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