All Forum Posts by: Bella P.

I guess people don't want to learn RE at the foundation level as they may not see knowing what RE actual is doesn't quickly click to making money, what is missed is that failing to start out and build a good foundation of knowledge means you will always be balancing the walls of building a business against other systems or strategies.

If you don't understand the proper use of deeds, you'll never know how or when to use a Special Warranty Deed.

The niche you may specialize should come from experience and the market influences you must deal in. You don't start of saying I'm goind to be a Lease-Option specialist, now I need a L/O mentor/coach and go do L/Os, that's totally wrong in building a business. If you do that you will pass other opportunities you never see.

An attorney doesn't start out by learning jury selection techniques, the begin by studying Law 101. An electrical engineer doesn't begin going into load transfers of power grids, but from how electricity works.

A specialist working an any niche will never be a great specialist without knowing the basis that apply to that niche.

If you want to be a limited "deal maker" buy a tape and see if that works for you, if your want to be a professional, start at the beginning and learn. It does not take that long and it will put you years ahead of those who don't build a good foundation.

My rant is over... :)

Well, I’m in the same boat. Here are some post below I put on blogs today to give you an idea of my approach. It IS becoming clearer, my approach has been to read and post on BP. Post/ask questions even if you are not sure, just throw it out there see what others think even if you step on toes but be careful ;). Then actually walk the talk and go explore, look at houses to better understand your market, look at statistics, etc. Everyone is different and learns different, I learn by research then go validate it, or see how I would put it to use. Once I find that nitch just do it!

Put this on Ben Leybovich “Which is better single or multi”

I been trying to learn my market and nitch, what/where to buy that first property. I've done a market analysis on the big city I live in and surrounding top growing cities in the burbs. Looked at a lot of inner city SFR's as I said no smoking deals yet, so tonight and this weekend going to meet with agents/developers looking at building on a lots and/or developing some land.

Been using ciy-data.com which seems pretty accurate, shows median "house or condo values" , income, population, etc……It shows "median gross rents" but that can be from SFR's. Realtors seem to just know SFR's as are majority of building restrictions too.
Question is how to do a market analysis of multi-units? The data I have so far does not really show supply vs demand as I can see, so I will have to get that at location I guess. Is the area demand SFR or multi-unit will be my question. I would also think location for a multi, depending on # of units, will be different. For example, 2-4 units may be allowed and do well in residential not on busy highways, where a large multi may do well surrounded by restaurants/etc, on a busy highway. These areas I am looking at have land at both.

And this on J. Scott’s he said write it down to find you nitch, market, strengths/weakness.

Comment: I'm not really a write down a plan type guy(use to be) unless someone needs to see it like a lender. After being a tech designer most of my long life my plan is in my head and developed as I go. I do however take notes. I am seeing so many facets of REI to explore, it just a matter of understanding your market , strengths and weakness, etc, as you point out, then making that first move, where we are at, and adopting to change as you say.

Hope that helps. :)

Bella P. and Terry P. For starters, I think it may be helpful for you both to read an article I wrote for BP a while back. http://www.biggerpockets.com/renewsblog/2013/02/26/why-wont-you-quit/

Also, remember this: If you don't write it down, it doesn't exists!!!
You have to know where you are coming from and where you want to arrive. There will be many off-ramps. Unless you write it down, you'll get lost...