All Forum Posts by: Allan Bishop Jr.

Welcome to BP @Javon Ivory! 

I assume you mean St. Pete in FL? If that’s the case you’ll want to talk with @Katherine Blazer. She can help you find some properties.

I also agree with the other comments about finding a local REI group. You can find one through this site or the Meet Up app. That would help you make more local connections.

I’d also recommend filling out some more of your profile. Add a picture and fill out the description. That will be a great way to introduce yourself to the BP community. It doesn’t have to be a novel but just a little bit about yourself, why you’re interested in real estate, what you’re looking for, etc.

Also, don’t forget to tag someone with the “@“ symbol in front of their username if you mention them by name in the forums. This will send them a messsge so they can get back and respond if appropriate.

Good luck as you begin!

Welcome to BP @Latrina Albury! With your interest in flips I recommend you connect with @Katherine Blazer. She’s a great resource for those types of deals. Also, don’t forget to tag someone with the “@“ symbol when you mention them by name in the forums. This will send them an automatic notification and ensure they see your message. Good luck as you get started!

Welcome to BP @Jeramiah Fitzsimmons. If you want to learn you’ve come to the right place.

I recommend the podcasts, webinars, books, and the online tools. Specifically the calculators. PRO members get unlimited use of the calculators so it’s totally worth it. Getting the math right is critical to getting a good deal. 

You can also link up with a local real estate investment group in your area. You can find them on this site and through the Meet Up app.

Good luck as you get started.

Welcome to BP @Barry Hinds - that’s a great attitude to have. This site is full of folks willing to share what they’ve learned. 

As you begin keep learning. The podcasts, books, webinars, blogs, etc. are excellent. Find a local REI group to meet with (through this site or the Meet Up app). Practice the math so you know what a good deal looks like. Pro members get unlimited use of the calculators by the way.

Good luck as you get started!

Good morning @Lydia Rodriguez. 

Forms - you can have an attorney draft them, buy them from an online legal forms company, or just search the internet and create your own. They don’t need to be long (1-3 pages). Be sure to check on if your state has any specific rules.

Real estate agent - since you already have a buyer you might be able to find an agent who will facilitate everything for you for either a discounted percentage or a flat fee. I used to be a licensed agent and did this a couple times. Each state will have some rules the agent will follow but you’re less likely to miss something since they’re handling the details (to include providing the forms). Depending on where you live you might even find an agent here on BP.

If I were in your shoes I’d use an agent. Yes it will come with a cost but the piece of mind and time saved would be worth it I think.

Good luck!

Welcome to BP @Stefan Arapovic - multifamily is a great way to start.

Education is an important first step. Podcasts, books, forums, online research, and practicing the math are key. Once you get an idea of what a good deal looks like to you (based on your goals) then start looking at markets. I’m looking at MF properties here in KY where I currently live plus two or three markets in Texas but there are plenty of others.

Good luck as you begin! 

Welcome to BP @Angela Eatmon - always good to have another veteran here. You’ll find this is a great community with plenty of helpful people.

Good luck as you begin!

Welcome to BP @Victoria Lilly!

Three Cities - My vote would be Texas hands down. If you’re looking to invest where you live CA is not investor friendly. Florida is nice; I’ve lived up in north part of the state and recently visited the west coast part. I’ve lived in Texas several times and I’m semi-familiar with DFW. That area is growing and I agree it has a great vibe.

Investing now or later - If there is no other factor to consider other than where you live then why wait? Also keep in mind, as you’ve probably heard on podcasts, don’t limit yourself to investing where you live. Invest where the deal is.

Real estate license - Depending on your reasoning for getting one it's not necessary for investing. I'm a former Realtor from Texas. If you become a Realtor (joining the associations versus just being a licensed agent) then expect to pay probably close to $1,000 per year just in membership fees. Access to MLS - more fees. You'll just need to figure out if the juice is worth the squeeze. If you push forward I'd recommend taking the required courses online before moving to the state. You'll have to test in state but otherwise you should be able to do the rest while in Iowa. Each state has their own licensing requirements and and not all states have reciprocal agreements. You can't just transfer a license from one state to another in other words.

Good luck with your decision!

Welcome @Gregory Scott to BP and to the Great Place! You’ll find a good handful of people from the area here on BP. I moved away several months back but I’m sure I’ll return at some point.

Lots of folks have had success in that area and there are plenty of MF properties around. The key is finding something that meets your goals (cash flow, cash on cash ROI, etc).

In the meantime continue to network on this site, read up, listen to the podcasts & webinars, and practice the math using the calculators (note - PRO members get unlimited use of the calculators).

Good luck as you begin!

Welcome to BP @Tiffany Michel!

Where to start? You’re already doing it - educate, educate, educate. Get smart on the math of how to run the numbers, types of financing, how to find properties, how to identify good markets, etc.

Tips? Never stop learning. Practice analyzing deals using the BP calculators (Pro members get unlimited access). Nework with like minded people at a local REI group. Narrow your focus (market, property type, etc.).

Motivation? Classic “know your why” answer. Do you want to build generational wealth? Replace income to quit a job? Prepare for retirement? Having a strong why will help you push through any difficulties or setbacks. 

Good luck as you get started! These are just a few thoughts. There are plenty more someone else might suggest.