All Forum Posts by: Zack Reyes

Hey! my name is Zack, I'm 28 years old and live in Farmingdale, NY (Long Island). I'm fortunate enough to be living at home rent free and have managed to pay off all my debt! I'm a newbie real estate investor. So I signed up on BP back during the pandemic as a newbie real estate investor! The problem was...I had no cash at the time haha. as you can see, this could make real estate investing...well...more difficult. so I put real estate investing on hold, lived life, and saved money (at the time being a plumber apprentice). so now as of 2023 I'm happy to say I'm ready to make move in the world of real estate investing! Now I'm pretty open to most strategies (rental, BRRRR, Flip, House hacking etc.) I would like to be more involved in active income strategies as opposed to Passive ones (again I'm pretty open minded) but I'm in for a high risk, high reward type of investing. I have an investment budget of $35,000. I'm in the process of getting pre-qualified just to get an idea of what I can afford! my questions for everyone is:

do I have enough to invest in Long Island? 

Is investing on Long Island too challenging for a newbie?

Should I take on out of state real estate investing as a newbie?

like I said, I'm open to any advice and recommendations. as well as feedback, no matter how brutally honest it is. Thank You for stopping and reading my post and I appreciate every reply that comes with it!

Hey Mark! it's great to hear you're taking a step (an exciting one might I add) into the world of real estate! :) I'm just starting out as well!  even with the same goal (financial freedom). What I feel has helped towards building a routine and a solid mindset is to figure out your goals! for example, how much would you have to make to be financially free? what kind of a lifestyle would you like to live as well as your family? 

also, explore what you want to do in real estate/what type of properties you want to be involved with (single family/multi-family, etc.) do you want to rent? fix and flip? wholesale? do some research in the different kind of real estate strategies there are out the and pick one that you'd like to get into!

also start looking for a good market! pick a town that you feel would work best for your type of property and strategy. start getting familiar with properties in that town (price, rent price, types of homes etc.)

With each objective/goal you set, take it backwards! always think "How" it helps dissect everything down into simpler steps and helps make seemingly impossible goal obtainable!

I hope this helps! and feel free to message me anytime!

best of luck!

-Zack

@Antonio Cucciniello This is very helpful! I’ve been “driving around for dollars” but I feel like I’ve been doing the right thing the wrong way. I just started analyzing properties just to see what it’s like running numbers and what the process of analyzing a property is like. But I definitely need to narrow down my market search! As well as to see if I can get pre-approved :)

@Brandon Rush Thanks for the advice! I’ll definitely start taking action on that:)

Hey guys! So I’m new to RE, and from listening to BP podcasts, watching YouTube videos and reading books, I’ve gained a lot of valuable information! And for someone who is just starting out it’s great!...but also a little overwhelming. I was curious if anyone had some insight on how you narrowed your focus with an overwhelming amount of information!

(And if anyone is curious, I’m interested in fix and flips!)

@Nina Granberry I just Started out in RE and reading this was truly inspiring! I really appreciate the share:)