All Forum Posts by: Anthony Thompson

Lusi, yes, welcome to BP!

When you say connect with buy and hold investors in RI, do you have questions you'd like to ask?

@Brandon Ingegneri Thank you! And yes, it was RIREIG (rireig.com) I was referring to :)

@Brandon Ingegneri You can contact me about any deals in RI - I am a cash buyer anywhere in RI.

You can either send me a direct message here on BP or I believe my profile page has my phone # (if it doesn't I'll give it to you when you message me).

I'm also happy to meet with any investors in the RI area to help newer people or talk shop with folks who have been around the block a few times :)

@Roy N. It's a tough area.

Anuj, thanks for sharing. I bet I know what question you will ask early on, in your next potential financing call :)

Tim, I like it because it's smaller and easier to wrap your head around.

And there's less driving (which, as any Rhode Islander will tell you, is a scary thing - see http://s3.amazonaws.com/citybuzz/2014/07/rhodeisla...)

There's less competition, but the #s are also smaller which means that, say compared to Boston, the profits generally are smaller so you have to work a little harder.

In general I don't view RI as being particularly business friendly, nor this part of the country to have favorable economic/demographic trends. My advice for people considering moving into this market is: look elsewhere.

However if you're already here anyway, you can certainly eke out a living or good investments, if you're willing to put in the work of course.

And despite what headlines may say, I don't find rents to be particularly high here, mainly due to lack of new economic activity and a roughly stable population. If rents have increased I personally think it's only been marginally and probably due more to QE/inflation (see shadowstats.com).

(Though, the theory is that the overall demographic trend in the U.S. toward Millennials having a preference for renting could be part of a mild rise in rents. But I personally haven't seen a huge bump in my travels.)

Hope this helps - be sure to say Hi if you attend one of the RE meetings (I usually make it to RIREIG and occasionally to Black Diamond in southern Mass).

Tim, I'd recommend checking out a meeting of a local real estate investor group such as RIREIG (rireig.com) which I think is meeting this Thursday.

There are usually several agents in the room you could talk to, and assess their level of knowledge and personality compatibility with yourself. From there you could have coffee with one or two and make your decision that way.

And congratulations on your recent home purchase and the new addition to your family!

Richard, welcome to Bigger Pockets! You'll find, if you haven't already, that Rhode Island is a special market.

Prices are much lower than Boston, but so is economic activity/growth. The competition is less than Massachusetts, but so are the #s and thus, the profits.

If someone hasn't already suggested it, in addition to BP, I'd recommend attending a local real estate investor group such as RIREIG (rireig.com) or Black Diamond REI (blackdiamondrei.com).

And check out the BP podcasts (biggerpockets.com/podcast) - they're always entertaining :)

Rob, two suggestions:

1) Check out the Bigger Pockets "Ultimate Guide to ___" books (such as the Ultimate Beginner's Guide to Real Estate Investing) and

2) Check out a local real estate investor group such as RI Real Estate Investors Group (rireig.com) or Black Diamond Real Estate Investors (blackdiamondrei.com)

Oh, and check out the Bigger Pockets Podcasts too (biggerpockets.com/podcast) - very entertaining and informative :)

Welcome to BP!

Eladio, welcome to Bigger Pockets! Others have directed you to great resources here on BP and it's encouraging to see you already plan to attend a local real estate group (RIREIG).

In southern Mass there is also Black Diamond REI (blackdiamondrei.com) which is worth the drive especially if a particular topic interests you.

I've been doing real estate in Rhode Island since 2004, including wholesaling, buying-and-holding, property management, etc. and I am a cash buyer anywhere in RI. I'd be happy to have coffee with you sometime if you want to discuss real estate in RI, getting started, etc.

Also I'm not sure if anyone mentioned the Bigger Pockets podcasts (biggerpockets.com/podcast) but those are entertaining and informative too. Welcome to BP (and RI)!