All Forum Posts by: Stacy Unger

Ive been told by a few people that the opportunity really comes from off market real estate. What are your strategies for finding off market deals? A few I've been thinking about are community boards (in local businesses or community places), social media groups/marketplace, and word of mouth. Is there another avenue I should be aware of?

Quote from @Gabriel Watts:

Welcome to the family! 

me personally I studied for about 6 months pretty diligently before I made my first purchase. Lots of books, podcast, market research etc 

O awesome, which podcast have you gotten the most from? I have learned a lot from the 'Anderson business advisors' podcast. They have a lot of discussions on unique and common tax situations for real estate investors. 

Quote from @Min Zhang:

Great that you’re getting started, Stacy! Real estate’s such a powerful vehicle once you find your rhythm. I did a mix of research and action early on, but honestly, I learned the most by just jumping in. You’re asking the right questions though, and that’s what matters. Always happy to chat or swap notes, would love to share a bit of my journey if it’s helpful!

 Thanks Min! I'll keep that in mind. 

I am really into spreadsheets, formulas and even VBA so if anyone is drafting their own spreadsheets, I'd be happy to help if needed! Just want to provide what I can considering I'm new to the investing piece.

Quote from @Chris Seveney:

Quote from @Stacy Unger:

I'm just getting started with real estate. I've talked to a few people about their journeys and I seem to be starting a little differently. So I'm just curious how much research and planning (taxes, marketing, strategies, networking, reading, podcasts etc) everyone has done before they bought their first investment.

 I worked in real estate so I had an unfair advantage, but when I shifted to mortgage notes I spend 6-9 months of spending 2-4 hours per day 5x+ a week learning and networking. 

Just remember its not a race or a competition. It is being comfortable understanding the risks involved so you do not make a mistake that can cost you a significant amount of money.

 Wow, so you put in some good time. If you have any stories of your own that inspired your statement "understanding the risks involved" I'd love to hear it. I know there are many risks but it'd be interesting to hear if there's something specific you're alluding to.

Quote from @Sean Graham:

Hey Stacy, love that you’re already deep into learning before jumping in, that’s more than most do starting out. Everyone’s entry looks a little different. Some dive in fast and figure things out on the fly, others spend months (or years) studying and planning. I’d say do enough research to feel confident in your first move, but don’t let analysis paralysis slow you down. The real learning kicks in once you take action. If you ever want to bounce ideas around or talk through the tax side (cost seg) when the time comes, feel free to reach out.

Thanks Sean! I'll keep that in mind. 

Thank you for your input! Is there any research you feel you should have done before purchasing that you just didn't think of at the time? Or were you pretty happy with your overall research?

I've got a few months before I can even purchase anything (and im a pretty analytical person as it is) so ive been doing a lot of planning.

I'm new to investing and I've been listening to the 'Anderson Business Advisors' podcast. I've learned a lot of terminology and they're really good at explaining how to get the most out of unique tax situations. 

I'm just getting started with real estate. I've talked to a few people about their journeys and I seem to be starting a little differently. So I'm just curious how much research and planning (taxes, marketing, strategies, networking, reading, podcasts etc) everyone has done before they bought their first investment.