Looking for advice on the next step in learning

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Looking for advice on the next step in learning

Brian Walters
Las Vegas, NV · Member since 2019 · 173 posts · 78 votes

I am currently working to learn and do as much as possible ahead of me and the family moving to the Las Vegas area in the middle of next year. The goal is to purchase my first SFH investment in that area, using the BRRRR strategy, within a year of being there.

So far I have read multiple books, watched/listened to podcasts, on the BP forums, and anything else I can think of.  No one else in my family/inner circle invest like this in any way so trying to find as much as I can on my own.

Looking for any suggestions on what else can be done to learn more.  Obviously there is a lot more to be read.  Another goal is to start practice analyzing properties (though I admit I'm not 100% confident in that). My wife found some online courses through udemy.com that I'm currently looking into (any feedback on that would be appreciated).  But what else can be done?????

If there is anyone in the greater Vegas area willing to give any advice on the market, Vegas investor groups to join, seminar, or just talk, anything, I am interested.   

Thank you all for the time.

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Jeremy Wirths
Auburn, NH · Member since 2016 · 235 posts · 207 votes
6y

@Brian Walters Yes I would search Las Vegas in the forums. You can also search members from Las Vegas and surrounding areas. You can search for meet-ups in the area and see who is hosting/RSVP'd to them. Once you have a list, ask them who they have in their networks and see if there is a pattern. You can also hit up Google and search Las Vegas and get creative with what you add in your search terms. 

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  • Miller M.Pro Member
    Investor · Colorado Springs, CO · Member since 2018 · 261 posts · 234 votes
    6y

    It is awesome that you are thinking ahead!

    Practicing deal analysis is a great idea! Running the numbers on properties in your next market will help you quickly identify great deals when you are ready to move.

    Continuing your education is great, but there are some action steps you can start taking before moving.

    I'd also recommend searching for team members in your new market. You can go ahead and make a list of good agents, contractors, property managers, lenders, etc. Also, it would be great if you could narrow your list down to a few of them that are going to fit best with your strategy.

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  • Jeremy Wirths
    Auburn, NH · Member since 2016 · 235 posts · 207 votes
    6y

    @Miller McSwain said. Start analyzing properties in the market you are moving to that way when you are ready to buy you'll know if the property is a good deal or not without delay. Vegas is a larger metro, do you know where specifically you will be moving to? If so, focus on that area. Also as mentioned, start reaching out and forming those relationships and building your team that way when you move that will already be taken care of and you can hit the ground running.

    1Reply
  • Brian Walters
    OP
    Las Vegas, NV · Member since 2019 · 173 posts · 78 votes
    6y

    Thank you both @Miller McSwain and @Jeremy Wirths for the advice.  What do you recommend for the best way to start building relationships, from this distance (currently in NYC) and with everything going on with Covid?  Is it just a matter of finding people in these forums from the Las Vegas area and reach out introducing myself?

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  • Jeremy Wirths
    Auburn, NH · Member since 2016 · 235 posts · 207 votes
    6y

    @Brian Walters Yes I would search Las Vegas in the forums. You can also search members from Las Vegas and surrounding areas. You can search for meet-ups in the area and see who is hosting/RSVP'd to them. Once you have a list, ask them who they have in their networks and see if there is a pattern. You can also hit up Google and search Las Vegas and get creative with what you add in your search terms. 

    2Reply
  • Miller M.Pro Member
    Investor · Colorado Springs, CO · Member since 2018 · 261 posts · 234 votes
    6y

    @Brian Walters 
    Jeremy's suggestions are great! Also, if you want to take a deep dive into building a team from a distance, I encourage you to read David Greene's "Long‑Distance Real Estate Investing". He describes, in detail, the team members you need and the best ways to find them.

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  • Amean Galindo
    Wholesaler · Las Vegas, NV · Member since 2020 · 8 posts · 5 votes
    6y

    @Brian Walters hey Brian! I'm a wholesaler in Las Vegas. I'm getting into buying rentals also with creative financing ways. Check out all the Facebook Las Vegas Real Estate groups. I met a lot of cool people there. If you have any questions about vegas pm me. I'm born and raised here, I analyze properties everyday. I can definitely help find you a deal. Pretty much all of las vegas and henderson is great for rentals.

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  • Brian Walters
    OP
    Las Vegas, NV · Member since 2019 · 173 posts · 78 votes
    6y

    @Amean Galindo, @Miller McSwain, @Jeremy Wirths thank you all again for the thoughts and help.

    I do have one other question (well there are a lot of questions) but 1 more on this piece.  When practicing analyzing deals, how do you know if you've done it correctly?  Without extensive experience in all aspects, the estimates on each piece would be educated guesses at best.  

    How do you measure the success of any deals you analyze?

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  • Ron Woods
    Wholesaler · Las Vegas, NV · Member since 2015 · 68 posts · 7 votes
    6y

    Pay for a coach or mentor when you get serious. One that does tons of deals a month and can show you how they do it. 100% the best/fastest way imo.

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