All Forum Posts by: Steven Foster Wilson

Quote from @Raul Garcia:

Hello my name is Raul Garcia. I'm a brand new BiggerPockets member looking forward to learning!

Hi Raul, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hi Edgar, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hi George, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Quote from @Mike Menahem:

Hi All, Just joined, looking to learn more about multi-family. 

 Hi Mike, 

Hi Mike, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. 

Just a bit of info on Multi family homes. These can generate higher rental income compared to SFH. With multiple units, you have multiple tenants, which can provide a more stable and consistent cash flow, especially in high-demand rental markets. Property management, maintenance, and repairs can be more efficient and cost-effective when applied to multiple units within the same building. It provides diversification, as you have multiple rental units. If one unit is vacant or faces a financial issue, the income from other units can help offset the loss. Hope this helps! All the best!

Hi Geoff, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hi Jose, welcome to BiggerPockets! This is surely the best place to start networking and learning. 

Hi Corey, I suggest that you try to attend your local REI networking groups and meetups. Connect with as many real estate investors as you can.

You can also consult with lenders, brokers and ask them for suggestions on who might be a good real estate mentor and most will be able to provide one. Try to think of different ways you can add value to that person. What are your strengths? For example, are you experienced in social media marketing? Could you offer a mentor some tips? This way it's not just a one way street.

Quote from @Jeff Valone:

As stated, I’m completely new to real estate. I’ve done some light reading and research but I’m more efficient when learning by doing. I also learn well by getting feedback and interactions from people who know what they’re doing. I’m in the process of buying our first home and we have a 2 year plan for it. What I’m wondering is, with little to no capital, how likely is it that I can add more properties to my portfolio? Also, who do I need to talk to/set meetings with to make these things happen? I’m an active learner and don’t like to waste time so I want to build my skill set and portfolio consistently. 

If you have limited funds available, flipping or BRRRR'ing could be an excellent way to get started. With this strategy, you can purchase a property using hard money with only 10% down, and they will cover 100% of the renovation costs. If you're flipping the property, you can sell it for a profit and use the proceeds to continue investing. Alternatively, if you're pursuing a BRRRR deal, you can refinance the property at a higher appraised amount, allowing you to be in the deal for less than 20% down and potentially even receive cash back at closing.

Cleveland and Columbus are the two cities where there's a ton of Duplexes that are zoned correctly. Cleveland is your Cash flow market while Columbus is your appreciation market. You can practically throw a dart at a Columbus map and it would hit somewhere that'll make a good investment.

Quote from @Michael Estacion:

I’m looking to buy my first rental property. I have about $45K to use. What’s a good city to deal search in and do you have an agent that you would recommend?

I'm active duty military and am not opposed to out of state investing.  I've looked around online at cities like Cleveland, El Paso, and Montgomery but have not seen any obvious deals.  I just want to narrow down my search to a good neighborhood and fully commit to buying my first property.

 Hey Michael, the midwest is one of the best places to go to. This will generally depend on what you're after. Looking for cashflow? Look into Cleveland, its got good cash flow potential with appreciation happening as well. Looking for appreciation? Come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!