All Forum Posts by: Andrew Syrios

I think the best way (other than continuing to educate yourself) is to start networking with actual investors. Go to the local REIA's, call potential key contacts and maybe interview them (agents, lawyers, contractors, etc.) and the like. Then put pencil to pad and hammer out a business plan. You want to focus on one or two major avenues of finding deals and not dabble all over the place. Then, pick a drop dead date and get started.

Congrats Willow, great deal!

Welcome to BiggerPockets Kareem and best of luck investing! I think out-of-state absentee owners (especially on properties that need some TLC) and pre-foreclosures are the best place to look for motivated sellers.

Welcome to BiggerPockets Chris and good luck becoming a landlord!

Welcome to BiggerPockets Kevin and good luck investing!

I like Missouri, but I'm not in a position to compare. That being said, I always recommend any investor be very, very careful with out-of-state investing. I've seen several people take a big hit. You may want to check out this article I wrote a while back on the topic: https://www.biggerpockets.com/renewsblog/2014/12/23/investing-out-of-state-essential-items-to-vet/

There are a couple of options. The first thing is to see it as one step at a time. Don't worry about getting there all at once. Real estate takes a good long while, enjoy the process. 

I would ask yourself if there's anyone you could partner with, or perhaps getting a private loan from for either flipping or holding. You do the work, they provide the capital. Or you could try house hacking. Or even better, if you can save up a little bit of money, try getting approved for an FHA loan. You have to move in, but you can buy up to a fourplex. So if you can afford to buy a fourplex, you live in one unit are rent out the other three. With three kids though, it may be easier to do this with just a duplex. But after about a year (I think) you can move out to the next property. And if you can refinance that FHA loan, you can repeat the process from there. All the while, you will be building up equity and experience.

Welcome to BiggerPockets Lamar and good luck investing!

Ask around your local REIA and see who other investors are using. One thing I've done is do a check with ListSource or DataQuick on banks who have loaned money on non-owner occupant properties in the area and price range I've bought in. Then I call them as they are at least willing to consider those properties. It narrows down the search and I've found two or three banks that way.

Done...

My description: Real estate investing advice, like the gurus, only better and much, much, much cheapers