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Updated about 10 years ago on . Most recent reply

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84
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Tyrone Watler
  • Investor
  • Yonkers, NY
20
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84
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Looking for a mentor

Tyrone Watler
  • Investor
  • Yonkers, NY
Posted
I have been listening to the bp podcasts and really want to get into real estate investing in NY. But I know I can't do it by myself successfully. So if there is anyone out their that wants a humble person to join their team I'm here.

Most Popular Reply

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Elizabeth Colegrove
  • Hanford, CA
1,832
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5,659
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Elizabeth Colegrove
  • Hanford, CA
Replied

The BP podcasts are beyond an amazing. That being said don't let them overwhelm you! The only thing that BP users agree with is Real Estate investing. Beyond that everyone has their different niche and segment. 

We are buy and hold investors who

*self-manage in 3 different states

*don't follow the 1%, 2%, or 50% rule

*buy class A properties

*buy in areas we know will appreciate preserving our cash-flow

*don't do partnership outside of our marriage

*work full time in demanding careers allowing only so much tim on investments

*highly leveraged 

*etc

*got started with 0% down personal properties.

The point is that you need to find YOUR way. Don't let analysis paralysis get you or the fact you don't have a mentor. We just jumped in. While you were pay a price for "learning" it hasn't been more than stress for us without a mentor. We have still done fantastically and have been able to build a business plan around what works for US. 

So jump in, figure out your goals. ask question on this site and know that your first deal won't be as good as your second, etc. That's expected. We have done the baby step approach. We have bought one house at a time. Guess what we now own 5 houses with another 3 to close by June 2016. So that will be 8 houses in less than 4 years. 

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