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Updated over 4 years ago on . Most recent reply

User Stats

2
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3
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Mike DeBusk
  • Homeowner
  • Oklahoma City
3
Votes |
2
Posts

Looking to get started

Mike DeBusk
  • Homeowner
  • Oklahoma City
Posted

Typical story I'm sure you have heard hundreds of times. Working a dead end job that I don't like and trying to set my life up for a comfortable retirement. Just looking for advice from the pros! I have a little bit of savings ($5,000) and looking to get started investing in rental properties. I am in Oklahoma City. I don't have any connections but I did get in touch with a realtor, and set up a meeting, that I found on this website. I listened to some podcasts that Brandon has done and became interested in the BRRRR method. I'm not sure if $5,000 is going to get me started. I am accepting any and all advice I can get. Thank you in advance.

Most Popular Reply

User Stats

299
Posts
299
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Mack Benson
  • Rental Property Investor
  • Woodbury, MN
299
Votes |
299
Posts
Mack Benson
  • Rental Property Investor
  • Woodbury, MN
Replied

Welcome to BiggerPockets. I think there are three things anybody new should focus on

  • Goals - You said you have a goal of setting you life up for a comfortable retirement. What does that mean to you? What do you see yourself doing during retirement and up until that point? Is there a timeline for this goal? What can you do today to move yourself toward that goal? Focus on the micro while being mindful of the macro and don't get lost in shiny object syndrome. If you want to own apartments, what can you do today to get yourself closer to that goal?
  • Education - Podcasts, videos and books. Almost every single high performer you will hear from are voracious readers. I'm also a fan of mentor or coach but that can be a touchy subject and it isn't necessary in all situations. I firmly believe my goals and my situation was assisted with the mentorship program I joined.
  • Network - This will be the most valuable thing you do in your entire life. Even if you decide that real estate is not your bag, the connections you make may help you with whatever you do in life.

Good luck!

  • Mack Benson
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