All Forum Posts by: Renee Harris

Welcome to biggerpockets. I would say take your time and don't rush into anything, it's a buyers market right now and it's only going to become more of one. 

I would listen to all the podcasts I could find regarding BRRRR and creative financing. I definitely would not spend all the money, If fact, I would spend as little as possible. I would leverage it in some way. I would also invest some of it, but be smart and careful about that as well. I'd want to create as many streams of passive income as I could while keeping as much of the money as I could.

What was said here about sub-letting your apt would be a great idea as well if the owner allowed it. You could charge more than the rent you currently pay and still manage it. If the owner is getting more, that might help him go along with it. It really depends on your relationship with the owner. Those things are down the line, but learning about creative financing and leveraging the money here is the way to go. Hit me up if you'd like to strategize on some creative financing ideas. Congratulation, this is a great position to be in. Best of luck to you.

Drew! You are doing the damn thing! Good for you. There are meetups in LA you can go to. Listen to all the BRRRR podcasts. You are doing the right things. Let me know if you need help renting out your ADU. Keep it up!

@Sharron StJohn

search new western on biggerpockets... There are many threads. The woman that stated the NW preys on new investors by rushing them etc... That has been my experience. They always call at the last minute talking about they have some great deal, but I HAVE, HAVE to see it today and put an offer in ASAP.

What trips me out, is they way overbid on a couple of houses I was in negotiations with the seller on. It's a trip to be working and talking with a seller and then they all of a sudden say " I got an offer for XXXXX more." Then open my inbox and see the same house in a new western email. I'm not mad at them, I just have my number that I won't go over.

Hi Kara,

Welcome!

Before I answer... How much money could you come up with in cash and what area would you prefer to live in?
Also, do you have any friends or family that are handymen/women, i.e. could help fix up a fixer house?

Welcome Melissa! Always glad to see a woman get into real estate investing. Well, anyone really, but especially women and women with their own money!
I am just speaking from my experience so take this for what it is worth.

I would avoid a mentor I have to pay and look for one I can partner with or work with after you figure out what you want to be doing exactly. If you want to start investing in multifamily properties, then I would listen to every podcast here and online I could find from people who did it/doing it. Are you going to be a passive investor or hands-on? How much money do you have to start? How much time can you commit daily, weekly. Do you want to find the properties or someone to bring them to it? Will you buy off the MLS or want off markets? All these things will be a factor and you should be clear on those things.

Start looking through threads here for the topics you are interested in. Befriend people here from your hometown. Go to meetups in your hometown. Find REI groups in your area. Set alerts here for people mentioning your hometown and for MF investing.

Good luck
Renee

Reach out to a Title company and ask them in exchange for bringing deals to them if they'll let you have access to title pulls. you'll still need the phone numbers, but truepeople is good enough.