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Updated about 8 years ago on . Most recent reply

What Would You Tell Your Beginner Investor Self to do First
Hello from Southern California!
I am currently a business owner of a sales and marketing company looking to earn supplemental income via a buy and hold portfolio of residential homes. My knowledge on real estate is limited, but I am an avid reader, a huge planner, and a risk taker - all traits that I find could give me an unfair advantage in being a successful investor.
With that said, I would like to hear from those who have "been there and done that." For those experienced investors, if you could begin your career/hobby/passion of purchasing residential properties with what you know now, what would you do 1st, 2nd, and 3rd?
Most Popular Reply

Hello @Nick Portillo,
You're already doing it!
Asking for guidance and seeking counsel when you need help. So keep up the good work!
Next check out this awesome post by @Joshua Dorkin: What Decisions do investors need to make their first deal?
There is so much great advice to go along with Podcast 200!
Knowledge:
- Read the best books on Real Estate Investing. I have been reading the Millionaire Real Estate Investor and so far its a great read. Its great to think big! (Let me know if you want to start a reading group, accountability partners are part of the success path)
I can only speak on my experience.
- Started with a house hack. Two houses on a single deed. I rent one out and live in the other with a roommate. The goal is to live for "free". I believe this is a great way to start because everyone needs shelter right? And whats better then getting paid to live there?:)
- Next I did an REO BRRRR strategy with $0 out of pocket. Teamed up with RCN Capital and used a HELOC for a down payment. I forced about 60k of appreciation and will be able to get my money back out, including all closing costs.
- Started a flip a month ago. I like it for building up cash reserves. I was wanted to get away from asset rich, cash poor.
My best advice is to find your strengths, do what you're good at, and make a wise investment that will lead you to your ultimate goal in life. Find your purpose and plan backwards to get there!