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Updated over 7 years ago on . Most recent reply
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In a holding pattern - what can I do?
I've recently decided to start my time in Real Estate Investment. I plan on moving in less than a year to the Greenville, SC area. I plan on getting into residential multi-family and grow into commercial multi-family. Currently I am listening to the Bigger Pockets podcast, reading questions on the forum, and reading books.
I know I need to get practice in evaluating properties, but it's hard to do a property evaluation just making up what it my cost to repair and to add value. I know I need to learn about property management, at least enough to be able to hire someone to do it (as I like my job and want to continue to do it). I know I need to learn some of the accounting, tax, and legal aspects to it, again, at least enough to know who to hire.
I guess my question is, I've got several months before it makes sense to start taking action. In the meantime, what should I be doing to prep my self for this journey?
Most Popular Reply
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@Aaron Humerickhouse it is never to early to start learning the different areas and reading the local news to better understand the key drivers in the Greenville market. Also, practice evaluating random properties online in the area to get a feel for price/rents/taxes, etc. Finding the deals is the hard part. There are plenty of podcasts specific to property management and online resources to leverage.
I'm in a similar situation as you. I moved here a few months ago, and I'm looking for buy and hold properties to invest in. I also house house hacked my primary residence prior to moving. Feel free to send me any questions you may have, and I'll be glad to help.