First Timer

[Matthew Ficorilli]

Hello BiggerPockets world,

This is my first blog on this site. I have been actively searching this site for a few months now and I believe this is the best tool for real estate investing, good job Josh!
Currently I am going into business with a partner. We have been studying for months and educating ourselves and we are very excited to dive into investing.

I just wanted to see if I can get some feedback from anyone on here that is in the Pittsburgh market. This is the market my partner and I will begin to invest. Any tips or advice? Any feedback on advice for beginners will also be appreciated. We are trying to network with as many people as we can. The one thing I am noticing about the real estate business is that everyone seems to want to help everyone out instead of creating a war for their own business.
Thanks.

Matt

[Bill Gulley]

First, find a real estate investment club in your area and join. Meet other investors, rub elbos and find a mentor. Some mentors will kinda take advatage, but a few deals at what ever will show you what goes on.

Learn as many ways to skin a cat as you can, don't buy guru books for a special super successful way to do something, you can read here or get info from forums and blogs.

Be very familiar with RE financing, financing is the key to real estate.

You can initially use investor ratios like the 2% rule or 65% of value but learn what repairs cost in your area and know how to estimate costs yourself.

Most Realtor schools will sell the RE books used for the course without taking the course, get one and get the basics of RE.

Know what Realtors can do and what they can not do, this will save face and your reputation in dealing with them.

And most of all, do a personal assessment of yourself. Keep your feet on the ground and don't get carried away with dollar signs in your eyes and pie in the sky straegies. If you want a great career in RE, in the long run it will require a great reputation, so stay compliant with rules, regulations and laws, don't seek sham transactions for a quick buck and deal in good faith for an honest profit. You;ll do much better!

Lastly, keep learning, none of us know it all!