All Forum Posts by: Steve Kontos

@David Creed

Rich Dad Poor Dad by Robert Kiyosaki

Four Quadrants by Robert Kiyosaki

Emerging Real Estate Markets by David Lindahl

@Account Closed

Don't even get me started on the "gurus".  That's why I started my own educational program.  I charge a fraction of the price and you actually get something out of it rather than a thick book on real estate that is going to be thrown to the side and never be used.  It kills me when people overspend on hyped products.

@David Creed

Hi David and welcome to the BP community.  One of the things I always tell people are to read books and attend local networking events.  Those components will help steer you towards your first deal.  

That's how I started my first year.  Then I ended up becoming an active out-of-state real estate investor.  My team and I mainly focus on apartment complexes.  For me, it was a good fit but I didn't realize that until I spent some time early in my career getting to know the different strategies of investing.

@John Gray

My team and I primarily stick with landlord friendly states.  Our portfolio consists of apartment complexes in Tennessee, North Carolina, and Pennsylvania.  Your money goes a lot further once you leave the tri-state area.

@Nadine Hylton

Hi Nadine,

This is a pretty loaded question.  It really depends on what you intend on purchasing with the funds.  As someone who has been investing for a decade now, knowing what I know, I would never keep my money in a 401k.  In fact, I depleted mine (even took the tax hit) and purchased an investment property with it.  My school of thought was and still is, why give Wall Street my money to invest and make good rates of returns when I could take it and do it myself?

Again I had the resources at the time to do that because of my real estate experience.  If this is an avenue you are going to explore I would definitely not do it for my first investment property.  There are plenty of different ways to leverage resources and I do not think you should start off with this method off the bat;  at least not until your a little more experienced (I am assuming you are a novice investor, I apologize if I am wrong).

Hope this helps!

@John D.

I'm all ears.  Any specific areas your talking about?

@Elio Guillen

Based on what you state here I would talk to a CPA (most offer a free consultation) and get his or her advice before ultimately making that decision.  Keep in mind, if you put this deal under a legal entity, that needs to be filed separately.  

@Brian McFarland

Why not invest out of state?  Your money would go a lot of further.  I live in New York and that's what I did.

@Valentina Manco

Hi Valentina,

Reading up on real estate investing and attending local REI clubs in your area would help you and your husband. You need to surround yourself around more like-minded individuals and learn as much as you can. Best of luck!

@Kyle Anderson

Hi Kyle, 

In addition to what these gentlemen have given you for links to the BP databases, you should also read some books on the specific type of real estate investing you want to do.  Rich Dad Poor Dad is a must.  Also attending networking events will definitely help. 

Best of luck and welcome!