Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
new to real estate and I am here to learn
Hello! i am starting my real estate journey and I am interested in investing in real estate to create some passive income but more importantly to escape the 9-5 jobs and create generational wealth. I played professional baseball for 4 years and don't have any experience in the real estate world. But i know working a 9-5 for the next 25 years is not for me. I have been listening to a lot of real estate podcasts and youtube videos. (how i stumbled upon biggerpockets). I am eager to get my feet wet in the real estate world, just not exactly sure where to start. I do not have the capital at the moment to invest into any type of real estate but i am starting a new job in August and want to develop a plan, therefore i can jump in and execute when I have the available capital.
What’s up @Benjamin Miller!
Welcome to the world of real estate investing. There are a ton of people on these forums willing to give advice and point you in the right direction :) are you planning to invest locally or out of state?
-
Broker Ohio (#NMLS 2339224)
- Barrett Financial Group, L.L.C.
- 330-354-6590
- [email protected]
#1 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
- 3,906
- Votes |
- 3,942
- Posts
#1 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
Quote from @Benjamin Miller:
Hello! i am starting my real estate journey and I am interested in investing in real estate to create some passive income but more importantly to escape the 9-5 jobs and create generational wealth. I played professional baseball for 4 years and don't have any experience in the real estate world. But i know working a 9-5 for the next 25 years is not for me. I have been listening to a lot of real estate podcasts and youtube videos. (how i stumbled upon biggerpockets). I am eager to get my feet wet in the real estate world, just not exactly sure where to start. I do not have the capital at the moment to invest into any type of real estate but i am starting a new job in August and want to develop a plan, therefore i can jump in and execute when I have the available capital.
Welcome to BP - you've definitely come to the right place - I'd recommend some of the books in the BP bookstore for next steps - particularly the BRRRR Method book by David Greene which is great and might be perfect for your situation
#1 Starting Out Contributor
- Specialist
- Mendham, NJ
- 5,879
- Votes |
- 5,073
- Posts
#1 Starting Out Contributor
- Specialist
- Mendham, NJ
It's good to dial up a plan and there are many former athletes crushing it in real estate right now. This statement though - "more importantly to escape the 9-5 jobs and create generational wealth" - you should be careful of or just make sure it's a long-term goal. Since you were an athlete, going into the 9 to 5 will seem even worse, but if you don't have the capital now, the 9 to 5 is the best way to keep producing capital over the years to fund more and more until you can match or exceed your work income with investment income.
Continuous learning is key. Make the most of the educational resources available on BiggerPockets, and consider joining local meetings and Facebook groups. The opportunities in the real estate industry are vast, so define both your short-term and long-term goals.
#4 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
- 3,210
- Votes |
- 4,404
- Posts
#4 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
house hack sequentially every 1-2 years for 10 years
Hi, I've been doing this for about 4 years and I have scaled to 9 doors across Memphis and Detroit. Always happy to make new connections and knowledge share if you are interested.
Quote from @Brittany Minocchi:
What’s up @Benjamin Miller!
Welcome to the world of real estate investing. There are a ton of people on these forums willing to give advice and point you in the right direction :) are you planning to invest locally or out of state?
Personally, i am leaning towards investing out of state.. I live in California and the housing market is extremely expensive.
Quote from @Robin Simon:
Quote from @Benjamin Miller:
Hello! i am starting my real estate journey and I am interested in investing in real estate to create some passive income but more importantly to escape the 9-5 jobs and create generational wealth. I played professional baseball for 4 years and don't have any experience in the real estate world. But i know working a 9-5 for the next 25 years is not for me. I have been listening to a lot of real estate podcasts and youtube videos. (how i stumbled upon biggerpockets). I am eager to get my feet wet in the real estate world, just not exactly sure where to start. I do not have the capital at the moment to invest into any type of real estate but i am starting a new job in August and want to develop a plan, therefore i can jump in and execute when I have the available capital.
Welcome to BP - you've definitely come to the right place - I'd recommend some of the books in the BP bookstore for next steps - particularly the BRRRR Method book by David Greene which is great and might be perfect for your situation
Thank you! I will give it a look.
Quote from @Jonathan Greene:
It's good to dial up a plan and there are many former athletes crushing it in real estate right now. This statement though - "more importantly to escape the 9-5 jobs and create generational wealth" - you should be careful of or just make sure it's a long-term goal. Since you were an athlete, going into the 9 to 5 will seem even worse, but if you don't have the capital now, the 9 to 5 is the best way to keep producing capital over the years to fund more and more until you can match or exceed your work income with investment income.
Your right. I did not mean to escape the 9-5 entirely at the beginning. But planning for the long term, I would like for my real estate portfolio to cover a 9-5 job in passive income. Overall, I am looking at real estate as a long term investment.
Quote from @Joseph Bui:
Hi, I've been doing this for about 4 years and I have scaled to 9 doors across Memphis and Detroit. Always happy to make new connections and knowledge share if you are interested.
whats up! How did you get started in this journey? what method did you pursue?
Quote from @Nicholas L.:
house hack sequentially every 1-2 years for 10 years
yes! I am thinking about buying a duplex, fixing it up, living in one unit while renting out the other. However, they are not easy to find where I live.
Quote from @Benjamin Miller:
Quote from @Joseph Bui:
Hi, I've been doing this for about 4 years and I have scaled to 9 doors across Memphis and Detroit. Always happy to make new connections and knowledge share if you are interested.
whats up! How did you get started in this journey? what method did you pursue?
I've scaled by doing both turnkey and BRRRRs. I'm also working on my first flip right now in Detroit.
Hello Benjamin,
Welcome to BP community. You will definitely find great information and resources here. First thing is to figure out your why? Then try to learn all the different ways you can invest in real estate. There's different strategies when investing in real estate. Long term buy and hold, mid term rentals, short term rentals, fix and flip, wholesale etc... Its almost endless opportunities. Once you learn more about all these different ways then choose the best one that you believe will be the best fit for you that fits your lifestyle and will help you accomplish your goals. Good luck in your journey.
Quote from @Benjamin Miller:I hear you on out of state investing, I invest a fair amount in NC where you can still buy houses at 50-60k 2 miles from a Target...lol
Quote from @Brittany Minocchi:
What’s up @Benjamin Miller!
Welcome to the world of real estate investing. There are a ton of people on these forums willing to give advice and point you in the right direction :) are you planning to invest locally or out of state?
Personally, i am leaning towards investing out of state.. I live in California and the housing market is extremely expensive.
Quote from @Brandon Becsi:
Quote from @Benjamin Miller:I hear you on out of state investing, I invest a fair amount in NC where you can still buy houses at 50-60k 2 miles from a Target...lol
Quote from @Brittany Minocchi:
What’s up @Benjamin Miller!
Welcome to the world of real estate investing. There are a ton of people on these forums willing to give advice and point you in the right direction :) are you planning to invest locally or out of state?
Personally, i am leaning towards investing out of state.. I live in California and the housing market is extremely expensive.
50-60k??? That is literally unheard of in California
Quote from @Benjamin Miller:
Quote from @Brandon Becsi:
Quote from @Benjamin Miller:I hear you on out of state investing, I invest a fair amount in NC where you can still buy houses at 50-60k 2 miles from a Target...lol
Quote from @Brittany Minocchi:
What’s up @Benjamin Miller!
Welcome to the world of real estate investing. There are a ton of people on these forums willing to give advice and point you in the right direction :) are you planning to invest locally or out of state?
Personally, i am leaning towards investing out of state.. I live in California and the housing market is extremely expensive.
50-60k??? That is literally unheard of in California
Yea I know, Im in VA and still invest in VA for rentals but most the opportunity I have seen is in certain cities in NC. So thats my experience with out of state investing
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
- 4,171
- Votes |
- 7,613
- Posts
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Benjamin Miller whether you have money or don't, your first challenge is researching what market to invest in and what property class.
Then, even without money, you can still educate yourself about that market, so you really know what a "deal" looks like.
-FYI: many people will try to sell you a "deal" that really isn't, just so they make money:(
You may even find "deals' that you can wholesale to others and accelerate your savings.
There are a lot of good places to invest out of state. Each one has it's own strategy for success. Evaluate the numbers and your time energy lifestyle for managing rentals out of state and how those align with your why you're investing in RE. It will take travel and many hours on the phone to find the right team in what ever area you decide to invest. For example The investors from CA that I work with like the Reno, NV area because of the close proximity to CA, tech investments, low property taxes, and landlord friendly. The capital to deploy higher than the Midwest but the margin dollars and compounding is higher.
You will hit some grounders and homeruns and doing your due diligence will keep you from striking out.
Welcome! From a fellow newbie.
I work a 9-5 as well and plan on keeping my hospital job (Luckily, I am only part-time at this job but have the option to pick-up extra shifts or take extra call đź“ź).
There was a podcast episode that discussed having an income to fall back on in case things don’t work out (there will be some Ls along the way — all part of the journey.)
Been looking at deals and have an excel spreadsheet to analyze numbers (ROI, expenses, etc). I live in La Crosse, WI but have been eye-ing other Midwest states too.
Good luck! This is a great place to learn, network and asks questions.
Quote from @Benjamin Miller:
Hello! i am starting my real estate journey and I am interested in investing in real estate to create some passive income but more importantly to escape the 9-5 jobs and create generational wealth. I played professional baseball for 4 years and don't have any experience in the real estate world. But i know working a 9-5 for the next 25 years is not for me. I have been listening to a lot of real estate podcasts and youtube videos. (how i stumbled upon biggerpockets). I am eager to get my feet wet in the real estate world, just not exactly sure where to start. I do not have the capital at the moment to invest into any type of real estate but i am starting a new job in August and want to develop a plan, therefore i can jump in and execute when I have the available capital.
Evening Ben!!! I see you are new to wholesaling and ready to learn?!?!??! Is that right?
Quote from @Juan Fernandez:Yes! Been looking into wholesaling as well
Quote from @Benjamin Miller:
Hello! i am starting my real estate journey and I am interested in investing in real estate to create some passive income but more importantly to escape the 9-5 jobs and create generational wealth. I played professional baseball for 4 years and don't have any experience in the real estate world. But i know working a 9-5 for the next 25 years is not for me. I have been listening to a lot of real estate podcasts and youtube videos. (how i stumbled upon biggerpockets). I am eager to get my feet wet in the real estate world, just not exactly sure where to start. I do not have the capital at the moment to invest into any type of real estate but i am starting a new job in August and want to develop a plan, therefore i can jump in and execute when I have the available capital.
Evening Ben!!! I see you are new to wholesaling and ready to learn?!?!??! Is that right?
That's awesome!!!! I have been doing it for 10 years FULL time this September. I have room 2! There is WAY to do this... a ... style... dance almost! If that makes sense. For example, MOST wholesalers, give offers.... right?!! WRONG! You have to be able to PRESENT offers!!!! There is a huge difference! Does that make sense?
