Wow I am stoked (Lets build a Relationship)

[Dylan Pereira]

Hello BP world!

My name is Dylan from NJ I am excited about everything I'm reading on the forums and blogs from all you great members. I am preparing myself for my first investment and pre-approve myself for a mortgage For a 2 family in March of 2018 I'm only 24 and I'll be 25 next year. I'll tell you a little more about myself to have a idea where I stand and I can ask a few questions. I have a CDL-A and drive tractor trailers (W-2) gross around 70k and do Uber part time when I want about 6K (1099) a year, I also have my Real estate license in Referral. I'm working to have two years of consistent W-2 to be okay for a mortgage which in March I will be good. By March I should have around 70K in savings. 

Questions:

1. All books are key but what books do you think I should buy to help me prepare. BP has15% sale and they donate 5 dollars to a charity so I would love to take advantage of helping out and saving money. 

2. Loan Officer or Mortgage broker? I bank with chase(big bank maybe need more attention) I have no Federal credit union or military background for VA but I can qualify for FHA with 203k loan and conventional.

3.How to find a Realtor that invests? Any strategies in looking for a great realtor that does invest? 

4. Looking at multifamilys (2-units) at 315k and under that are move in ready with taxes around 8-9k or looking at house that need TLC I can customise and maybe save money but afraid of how to find great contractors. How do you guys find a great contractor if you never needed one and delt with one? 

Last but not least, I never built my team with lawyer, inspector, realtor and what I mentioned above for a transaction. Should I be this early before I pre-approve for a promissory note in March 2018? 

Sorry for long introduction and questions I need a little clarity. I can only read so much I need people who have there feet wet in the game input. Thank you!

[Darren Sager]

@Dylan Pereira your first team member should be a good lender.  Having access to capital is probably the most important aspect of real estate investing.  My recommendation to all first time investors is to purchase in the best neighborhood you can that will give you both a blend of a decent return, low maintenance tenants, and a history of appreciation.  Going into more challenging neighborhoods with promises of higher returns usually leads to more challenging situations (in my experience) and when you're starting off that's not what you most likely want to encounter.   The better your first experience the more likely you'll stick around long term and truly build a great rental portfolio.  Mind your own goals and don't be swayed by others who have a different approach (including myself).  There's no right or wrong way to go about it, but there are ways to make the journey more pleasant.  All the BP books are great so learn from them and all the free advice which is here on the forums.  I personally put more weight into those posts from people who've been through at least one downturn in the market vs. those who've only been riding the wave of this current run up.  Seek those people out here on BP and you'll do just fine!