Hello all, I posted about a year ago on here about trying to get into real estate investing. I had no idea about the obstacles that needed to be overcome in getting financing, finding deals, etc, but I kept learning and reading and at the same time finding a job where I could have steady income while I continued to learn. I had just recently graduated that previous year in December and desperately wanted to work and provide for myself. Fast forward a year and I have a steady job with income now wanting to take my first steps into looking for apartments to hold and rent out in the Knoxville area.
I am still focused on being my own boss and putting in the incredibly hard work of being a successful real estate investor in the buy and hold philosophy.
If there is any advice, or wise words that you'd like to impart on me as a beginner here in Knoxville, TN or just in general, I would very much appreciate it!
@Wellington Johnson Welcome to the forums. BP is a great place to educate yourself and learn from others.
Would advice you to figure out what niche/area you want to focus on. Otherwise, you will be inundated with information (much of it not applicable in your case).
Find some mentors in your area that you can physically meet with and talk to. I started meeting with a realtor in my area weekly to help her with monthly mailers and organization. In turn, she answers any questions I have and is going to help me work out analyzing a deal and tell me her thoughts when we meet next. Who else to listen to, as well, because the realtors on the ground who have been in their field for 10+ years will know the market the best.
Even if the realtor you meet does not specialize in what type of real estate investment you want to do, you never know where those connections could lead and once you get into the broker circle you are in the circle and can build relationships with other easier.
Let BP information (podcast, forums, connections) be your fuel and the people in your area be the vehicle.
Thank you both for the advice! Ill work on being able to attend my local REIA meetings and trying to meet others in the area as well!
Hi Wellington, I am about your age, just turned 25 and have been investing for about three years now since graduating from UT in 2015. I’ve only done six deals so far, but as I can tell so far this is definitely the business to be in. It is an amazing vehicle to improve your financial situation if you’re willing to put in the hard work and put yourself out there! (Emphasis on hard work). I have never been challenged more in my life than I have with real estate, but I have always come out stronger because of it. There are so many moving parts and every deal is so different that if you’re not constantly learning, being open to creating meaningful human connections, and willing to persevere through a lot of rejection and challenges, then it is very hard to succeed in this business. Anyways it sounds like you’re on the right track learning through BiggerPockets and reaching out on the forums, if you ever have any questions or want to talk about real estate please reach out! I always love meeting real estate investors that have the same goals as me. Take care
There are some other people on here from Knoxville that I've briefly talked to or emailed. I'm a contractor in my mid 40s and am looking to begin investing from a passive income perspective. I was just getting ready to post something to get advice about what is the best niche for me for long term passive income being that I have the skills and manpower to accomplish much for a lower cost or at least the same cost as someone paying a "budget" contractor (we are not a budget contractor from a retail perspective). I'm also able to handle repairs and add some sweat equity to get this moving quicker. I'm open to meeting/chatting/learning from or with people around Ktown. If you google me or my business Remodeling Solutions, you can easily find my cell for a text. Thanks!
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