New Investor Seeking Help

13 Replies

Hey everyone I’m a new investor from Newark,NJ looking for any knowledge and tips from other local investors that can help me out since I’m just getting started in this business. All help is greatly appreciated.

@Xavier Seymour ,

Go into the Education - Guides section on here.  Download and read 

The Ultimate Beginner's Guide To Real Estate Investing

It's a great place to start. There are many, many heads to the real estate investing beast. Learn what they are and what interests you. Consider your goals and current assets (time, money, etc.) and come up with a plan that works for you.

Yeah, this is a vague, top-level answer, but you posted a vague, top-level question.

Once you decide to explore a direction, get active in your local REIA groups and online here.

@Xavier Seymour ,

I just dove in about 6 weeks ago. I took a class that gave me all of the basics. It included strategies, contracts, the mechanics of how to do this, and all of that. It was all you need to get started. I kinda feel like it got me through the "middle school of wholesaling". I'm getting my "high school" education as I start working it. I've purchased a source of data to look for leads for my direct mailing, which I'm about to start - I just need to create the mailing pieces and finalize my criteria. I've been going to local REIA and REI meetups at least once a week. I told my wife I needed to do this a couple of weeks ago, and she said she was wondering why I wasn't already doing that. Oh, and I go D4D with my 12 year-old son. We even got matching shirts with my company logo. That was an extravagance, but I only paid $8/shirt at VistaPrint using their program where they give you $ to spend after making orders. Since I needed business cards and envelopes, I earned enough to almost pay for the shirts.

As for my "Wholesaling College Education", I think that will come through continuing to network the most. Yeah, participating online and such is great, but the last couple of REI meetups I went to were amazing. I met this one guy who's an active buyer. He is partners in a local real estate agency, and he has virtually limitless sources of funds. He said to bring him anything I find, as long as the numbers are good - which, is the cornerstone of this business. Make sure you know how to determine what's a good deal.

Ok, done rambling.  The coffee's definitely kicking in!  :)

@Barry Pekin yeah we’re pretty much in the same boat lol!!!!! I’ve been doing driving for bucks and starting to do the cold call approach so hopefully I can land my first deal in the next month or so. I also feel the same way just get my feet wet and gain as much knowledge from other investors and books and grow as much as I can in this business. Good luck to you on your journey bro

Hey Xavier!  I would look for your local real estate investor groups on meetup.com and attend as many as you can and network, network, network!  Try to find the ones that provide a variety of education along with networking, and are not simply trying to sell you stuff.  I am not saying that there are not valuable programs out there for purchase or that you should not pay for a coach or mentor, simply that you can get bombarded by offerings.  This is just the best place to get started and find out who else is local and getting started like you as well as find experienced investors and wholesalers who will probably be happy to share their experiences and advice. There is so much to say, so this is simply an actionable takeaway to get you out there and started with your feet on the ground!  The people you meet will help down the path as to your next step.  Get all the information you can to build your foundation and plan, then hit the gas! Best of luck!  Reach out anytime.

@Xavier Seymour

Hey Xavier, also super new to BP and a new Investor I can also Highly Highly recommend Brandon Turners Books. They are an amazing resource to take advantage of to help you fine-tune where you want to aim your self in, as well as help you with the jargon you will have to learn. Troll the BP forums constantly and always lookup new terms you've never heard about in the forums too, try to join meetups and connect and pm your local investors and realtors they can be super cool people. Never stop those YouTube real estate videos lol. They say you're the average product of the 5 people you spend time with me most, and people like to be on the same level. So find those 5 on BP and let them pull you up to their level. As investors go I notice their nerds, they love to boast and brag about their latest deal and the good ones will inspire and motivate you with good advice and help you grow. Good luck out there buddy.

As others have said, it is mostly about educating yourself to see what the options are that most interest you. The most basic options are doing flips, rental, and wholesaling. The list can grow from there in terms of location, price points, and types of property. It depends on your taste, risk tolerance, financial position, etc. I share this with most new investors. I would look for the local real estate investor groups, REIA's and the like, on meetup.com and attend as many as you can and network, network, network! Try to find the ones that provide a variety of education along with networking, and are not simply trying to sell you stuff. I am not saying that there are not valuable programs out there for purchase or that you should not pay for a coach or mentor, simply that you can get bombarded by offerings. This is just the best place to get started and find out who else is local and getting started like you as well as find experienced investors and wholesalers who will probably be happy to share their experiences and advice. There is so much many options, so this is simply an actionable takeaway to get you out there and started with your feet on the ground! The people you meet will help you down the path as to your next step. Get all the information you can to build your foundation and plan, then hit the gas! Best of luck! Reach out anytime. Remember, the key is taking action and your first steps, don't wait until you have the right answer or the right time. The time is now.