All Forum Posts by: Veronica Tello

Hi Bigger Pockets, 

I am currently enrolled in a UX/UI course and am focusing my final project on designing an app where landlords can manage their rental properties remotely. You'll be able to collect rents, manage work request and keep your own hours without answering calls in the middle of the night. 

I am reaching out to the community to find participants willing to chat with me over zoom to answer a couple of questions and tell me more about their experience. This shouldn't take more than 20 minutes and I'd be happy to share my final results with you. 

My preference is to record our session, but it is not necessary. 

Please reach out to me here if you have any questions or if you are interested in participating.

Looking forward to meeting you soon, thanks!

-Veronica

Hi all,

I'm happy to be in this community and would love to hear more of what you all have to say. Thanks for offering to pay it forward and helping the aspiring investors out! I am super fresh and have a very general plan but I'd love to hear any advice/thoughts/comments any of you might have.

A little about me:

Im 27, I live in NYC but would like to move to Miami. I have a few grand saved up and I work at a start up. On the side I run a small clothing flipping business that makes me about $8-$10k per year that all goes into my savings. I have a 5 year plan where I want to save to buy a couple of properties. I'm interested in beginning with buying and holding and perhaps do some flipping when I get the hang of things.

My job allows me a lot of time to do things for my own business like shipping and answering questions throughout the day (and listening to Bigger Pockets!) but I don't particularly learn anything. I have begun applying to property management positions but I don't have any real estate experience so I will likely make less than what I make now. I feel like that is a blow I should take in order to gain the experience.

I've also spent time reading blogs, listening to podcasts and reading books but you never really know the gravity of what you are getting into until you actually DO IT.

Something I am becoming more interested in is investing outside of your state. I don't see myself buying in NY and the market in Miami is also competitive.

My main questions would be:

1. What do you think is a good cash reserve to have in order to begin investing? Yes, I know you can get creative and do it with no money down but I want to create a safety net for myself.
2. Is it worth investing outside of your state? Or would you leave that to the more experienced investors?
3. Is it worth taking a lower paying job to gain the experience? I think it is, I'm trying to convince my husband!
4. Do you find that buying and holding is in fact, simpler to do than flipping?
5. Any other suggestions or places where I can get some more informal education. I love podcasts so if you can suggest any great ones, I'd really appreciate it. I'd also love to hear more about how you all have navigated being a newbie in this intimidating field.

Thanks guys. 

P.S. I was kidding about the retirement thing, though financial freedom is the reason I want to become involved in investing.