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Updated over 2 years ago on . Most recent reply
Real estate resources that isn't fluff
Hello everyone! Do you have any recommendations for resources that provide very detailed, practical, how-to guides? There are many resources out there that are just fluff, motivational speeches, and just feel-good rhetoric. Sure, the most important aspect of real estate is to do it, but I need more substantial guidance. My goal is to invest in multiple properties and rent them out to make passive income. I appreciate BP and there are great resources on here already, but I also like to hear from others and gain their insight. Thank you for your time!
P.S. I would consider myself somewhat new to the game. I have one property in Texas and just bought some land in Missouri to build a house on.
Most Popular Reply
Quote from @Jonathan Chang:
Hello everyone! Do you have any recommendations for resources that provide very detailed, practical, how-to guides? There are many resources out there that are just fluff, motivational speeches, and just feel-good rhetoric. Sure, the most important aspect of real estate is to do it, but I need more substantial guidance. My goal is to invest in multiple properties and rent them out to make passive income. I appreciate BP and there are great resources on here already, but I also like to hear from others and gain their insight. Thank you for your time!
P.S. I would consider myself somewhat new to the game. I have one property in Texas and just bought some land in Missouri to build a house on.
How much time have you spent on the forums here? I find 95% of the material informative in BP forums. And as you mentioned in your post - to do it, take action. What exactly are you looking for? You mentioned you want to invest in multiple properties and rent them. Here is a list of my questions - what type of properties, where, how big, long term/short term, self manage or remote?
Since you consider yourself new to the game, here is my advice -
-understand how investment works
-understand investment strategies - cash, leverage, syndication, partnerships and so on
-understand property type - turnkey, off-market, on-market and so on
-identify how much you wish to / can (realistic) invest?
-identify the location
-identify the type of properties (narrow down your scope)
-understand borrowing
-understand relationships with agents, wholesalers
this list can be generic and very long, but as you keep narrowing down your choices, the fluff will self evaporate
Watch some videos here on BP about how to buy your first rental property, listen to podcasts, interact with other investors...good luck to you on your journey!