All Forum Posts by: Maria Diaz

@Maria Diaz Hi Maria, once you make it to a few REI meetings if possible I'd suggest trying to figure out how to get your first door to get some experience. For me it was right before the pandemic and the price explosion and I bought a very affordable SFH to get started with.

You may have to look outside the Orlando market further into the outskirts to find something more affordable. I’m not sure what the market prices are like in your area.

Like a few of the others have said you don't have to think big to get started and start learning. While the first SFH is my only SFH and I moved into multis after it was a great way to learn how to screen tenants and open bank accounts and set up an account for the security deposit and to figure out how to start setting up systems to grow with when I was ready to buy the second property.

All the best, keep listening to the podcasts, following the forums, and reading! You’ve got this!

 Sounds good. Let me know if you can attend one of our meetings, the next General meeting is January 9th. I can have it set up for you to attend. You can schedule a call with me too if you like, there is a link in my profile.

@Maria Diaz @Karen Chow

Yes, getting started can be daunting as with anything.  I'd be happy to chat...

To get started, don't necessarily thing so "big."  There is so much information out there "selling" on so many plans.  Unless you can really follow somebody around, you are going to have to learn as you go.  "Break the work down" into smaller pieces so its easier to learn and not so daunting, perhaps.

Maybe don't think about "contractors," but think about trades..  Plumbers, electricians, painters, flooring, kitchen remodelers, roofers, landscapers, etc.  Many times, its not about a single general contractor...

Its fine to be introverted, but different to be shy...  There are so many ways to invest.

I hope you realize that with real estate licensure, you need to hang your license with a broker to keep it active.  That can be a challenge if you aren't going to be actively selling.  Also, there is the annual fees and costs that can be ~$3k.  If you aren't going to put in the time/efffort to sell, put it into referral.

Good luck.

I am new to this as well Maria! Thanks for creating this thread, it will help me a lot

it all depends on your goals, what do you want real estate to bring to your life? How much time can you devote to it? Personally, the best type of property to invest in is multifamily, because I want cashflow, easy management, keep them as LTRs and etc, for you it might differ

@Maria Diaz Welcome and congrats on putting yourself out there! I am on the board of CFRI, the local chapter of the National Real Estate Investor Association (REIA). We are a group of local investors & trades people looking to help each other out. We have about 20 meetings a month all over Central Florida. It is non profit and no selling, just building relationships thru networking.

I can invite you to one meeting free. The best would likely be the general meeting. First Tuesday of the month near downtown. 

I can help you with the acronyms too. Reach out if I can help answer any questions or point you in the right direction. 

Best of Luck!

Real quick - as far as the rehab, a lot of that is going to be learned through experience. This takes time and research but more than anything it takes real world experience. Take measurements, get quotes and whatever you come up with...double it then add 15%. That will get you close to start. As you gain experience it'll start to come to you - you can make a scope of work as you walk through the house and come up with an idea of what materials and labor will cost. 

Meet-ups I think would be a great start - this can expand your network. Plan for it to be a little slow at first especially since you don't have any properties yet, but I think it would be a great way to make future contacts. 

As far as things getting easier - of course it'll get easier with time and experience. Don't worry about that. 

Calculators. Learn how they work. If there is one thing that's important it's running numbers. Make sure they work out well. Make sure all your expenses are covered, including property management. 

For books - my favorites are just about anything by Brandon Turner (The book on rental property investing is a great one). BRRRR by david green is also a good one.

For now I would focus on increasing your capital and education. Do this for a few months. Stay consistent and persistent. 

Then make a plan - buying criteria (location, type, size etc), finding deals (MLS, fb marketplace et), having a good network (lender, agent, property manager) etc

I'm also a newbie. I'm in the learning phase right now. I've read some of the books that were recommended that are in the bigger pockets store. And right now, I'm doing a real estate agent course, not because I want to be an agent, but basically to have a methodological way to learn. For you, you could guess at what aspect you want to get started with, and just try to get into that part. You mentioned contractors, so for example, if you want to learn a bit about renovations, you could see if any of your friends are doing any projects at their house, and help them paint or install flooring or whatever. Just guess about which aspect you find the most interesting, and think of what baby step you can take.