All Forum Posts by: Josh Pulley

I mean $8k is not bad. I have personally spent over $100k on various programs and mentorships. I know fortunebuilders charges around $30k, for example. I never too their program though.

The real question is do you want to take the time to learn everything yourself and make all the same mistakes beginners make. I know I made lots over the last 25 years. And there is a lot of misinformation out there. 

For example, one of the biggest mistakes I made when starting out was acquiring 100 SFH and renting them out and expecting a passive income. Sure that will make money over time but I was trying to replace my income now. And I hated being a landlord.

Does his program offer 1-on-1 coaching or just education AND group coaching. To me 1-on-1 coaching is the most important thing. With that you get personalized strategy, education, direction, accountability, motivation and lots more.

So, the bottom line is figure out what your short term and long term goals are. If you are ok to do it on your own then do that.

Best of luck.

I can't see an $8k training actually paying off, but since you are dropping everything and moving across the country, I'd do something. 

Pay a premium for a meal in a restaurant and learn less or make your own meal and actually retain the lessons along the way, i.e. what @Nathan G suggested.  

@Josh Pulley - the advise @Nathan Gesner gave was solid.  

That said, I didn't read a single book on real estate.  

I spent $24,000 for my education - which was the down payment for the first investment property we bought.  

I learned a ton from the house itself, and it was a great mentor;  it also had no hidden agenda or motive, and only upcharged me for the repairs it needed. 

Oh, and I've browsed the BP forum multiple times per week since 2017;  that wealth of knowledge here has been very powerful and helpful.

Good luck.

For someone completely new to real estate investing, you should be reading books, listening to podcasts, interacting on the forums, and networking with investors in your local area. You can easily learn enough in 3-6 months to move forward. Less than $400 and you can have a better understanding than most people that spend thousands on education from some guru with a "proven" system.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the biggerpockets podcasts. This will help clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources. Biggerpockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

5. Study the market. You can learn to do this on your own or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR that works with investors and knows how to best help you.

6. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error. You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.

Certainly possible without a W2, but also much easier with one.

My personal success only took off once I had mentors. Its depends on you. How much is his program.

I stuck with a job I hated for around 6 years. But I had about a 3 year plan before I actually left.

During that time I invested as much as I could. Every year I would buy a property, fix it up, and rent it out. I did this "part" time.

Eventually I was able to leave my W2 and pursue things I enjoyed. Even for the next couple of years it took me planning and patience to be able to make the full leap of faith. Now I am putting all my energy and time into Real Estate. I have a lot more freedom today because of those 5 years of hard work.

It took a while before I was living a more purposeful career. I always looked at it from a time perspective, looking back 5 years, time had flown by. It was a small sacrifice for a better life.

This is my story, and just my experience. It doesnt have to be yours. You can do whatever you want, you could leave your W2 and go all in and become very successful, or you could do it and end up broke. Nobody can tell you what is right and what is wrong. Only you can decide that for yourself.

Hey @Josh Pulley just wanted to start by saying thank you for your service AND I totally get where you're coming from. My oldest son is a firefighter with CalFire. These last 7 years I've seen him go through the highs and lows of this profession and I've seen the toll it takes on his family, too. He's just about finished with his first househack/ADU build and he has definitely been bitten by the real estate bug and for that I am very, very grateful. There are SO many ways to finance deals that I wouldn't let your W2 job be your limiting factor. As others have said, it's for sure the easiest route, but it's certainly not the only one. Househacking is always a great strategy. People usually think about it as a strategy when you're young and just starting out, but it can be a great strategy any time - especially when you're temporarily reducing your income. You can house hack by buying a multi-family and renting part of it out as some people have recommended. You can rent out a room in your home. Or if you buy a property that has another unit on it you may be able to set that unit up as a long term, midterm or short term rental and at the very least off set your mortgage expense (LTR) or possibly generate significant cash flow (STR). In addition to looking at purchasing cash flowing real estate, you might also consider purchasing a cash flowing business. For more on this, I recommend you listen to the last BP Business podcast with Codie Sanchez or follow her on Contrarian Thinking. Buying a cash flowing business that also complements any real estate investing you intend to do can be a win-win. For example, any trades you would use in real estate such as electrical or plumbing businesses, glass, insulation, stucco, HVAC, property management or hosting etc can provide a symbiotic relationship with your real estate business. Given the high number of other investors who are constantly looking for reliable cleaning crews, contractors, handyman-type businesses, these could be very valuable business models to invest in that will benefit you and other investors. Whatever you do, I wish you the BEST of luck!