Advice for a Newbie Investor

Advice for a Newbie Investor

Ridgewood, NY · Member since 2017 · 16 posts · 3 votes

Hello-

I'm trying to get started in RE Investing any advice anyone can give I consider a gem. I find myself interested in BUY & HOLD /BUY & FLIP which of the 2 will I pursue I'm not sure, maybe it depends on which deal comes my way first.  My WHY is financial freedom, generating automatic cash flow, not relying on a W2 job or 401k for living comfortable and being able to attend to what is most important in LIFE my FAMILY. My husband and I are giving people and unfortunately with our 9-5 Jobs there is but so much that we could give. About a year ago, I grew extremely tired of the idea of the 9-5 job and feeling that no matter how hard I work I was not making a huge dent to my plans of retiring comfortably. In researching ways that I could retire by the age of 50, I came across the BP website and became drawn to the RE world. 

Finally, there was something I could invest in that would be passive income and could generate good cash flow on a monthly basis if I set myself up right. However, starting out is not as easy as we picture it and sometimes fear could be our #1 enemy but I'm determined to learn and move forward and give it a shot.

I live in NYC and investing in my market would be hard I'm open to out of state investing. Any good advice you could give me? Thank you, Elizabeth 
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  • Member since 2019 · 63 posts · 21 votes
    7y

    What type of Marketing are you doing? Have you put out any Bandit signs or Ads anywhere? Maybe try driving for distressed properties and finding the owners through a public records search. I would also consider finding a Partner or Mentor. I know one if you want his info. Those are my suggestions. If you ever need anything feel free to shoot me a DM. 

  • Ridgewood, NY · Member since 2017 · 16 posts · 3 votes
    7y

    @David Maradiaga . Thank you very much. I have done no marketing. It would be nice to partner up with someone and find a mentor. 

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