Where do I start?? And how?

[Matthew Touchette]

I am brand new to real estate investing and am trying to find where to start. I have many questions and need some guidance! Thanks! 

1. Any advice you have for a first time home buyer? 
2. How do you calculate cash flow from a potential property?
3. Do I need a w-2 safety belt starting out? 
4. Are there any licenses or certificates I need? 
5. Who do I need on my team to get started?

[Dan Maciejewski]

Great!  Real Estate can be exciting!  It can be boring and annoying, too.  It's a great career and can be a great way to invest.  Welcome to BP!

1. Make sure you understand the numbers and the processes. 

2. Use a BP calculator or a different one -- keep using different ones until you find one you like.  I share the Hold calculator sometimes.  They all move numbers around a bit.  Keep running numbers until you feel like you don't need a calculator.  It will take a lot of times and properties.

3. If you have a W-2 job, don't leave it before you buy!  It makes it 10x times more difficult to buy without a wage slave job!  If you've been successful for years on your own, then that's fine.  Talk to a few lenders to get a feel for how they view entrepreneurs vs employees.

4. Depends on your local jurisdiction.  Some places require licenses and some do not.  Find locals that are doing what you want to do and connect.  Most likely there are some on here.

5. Also depends on what you are doing.  It's good to have a good Realtor that also invests to give you some perspective on both the purchase / selling aspect and the hold aspect.  Lenders are good to know, too.  

It's good to know contractors -- you will pick those up through referrals and experience.  Sometimes a great contractor goes bad.  I have a shortage of electricians right now.  Plumbers are iffy.  I have an amazing roofer that always comes through.  I have a great tile guy but he's pricey.  My granite guys are okay.  I have a very expensive cabinet guy and I know how to bargain shop for one-offs.  A good tax guy is super important, too!

Get started first -- you will pick up the people you need as you go.  So many people reach out because they are building their team and I check in often and they haven't invested a cent after years.

Good luck and hang around here -- you'll see a lot and get some great advice for the most part!