Getting Started in Real Estate

[Kylie Moore]

After reading BiggerPockets' blog, poring through various real estate and rental property books, and listening to countless podcasts about real estate investing, I'm really eager to begin. However, I don't want to get my butt kicked because I was too hasty in my first real estate investment and made some catastrophic decisions. I'm trying to learn some practical information to help me decide what my first goals should be. I've saved enough money for a small downpayment, but I'm hesitant about my current ability to deal with unexpected costs. The area I live in (Boston) is also not incredibly conducive to real estate beginners, so I'm hoping to invest elsewhere when I enroll in graduate school (9 mos from now).

My general questions are as follows: How can I learn to identify good deals in the real world? How can I prepare for the hidden costs of purchasing a property? How can I practice the application of some of these concepts I've learned about without actually investing so that I am ready to hit the ground running in 9 months?

[Enis Shehu]

Hi @Kylie Moore

The best way to get your feet wet is to get your real estate license and run comps on properties that you are interested in. Running comps and plugging the numbers on the bigger pockets calculator will prepare you for when a good deal shows up. Also connecting with local investors will motivate you and you will gain insights on local market. Search online for the following real estate networking groups: Black Diamond- Waltham, Metro West Real Estate Professionals - Framingham, Boston Real Connection, The Boston Investor networking event. Feel free to reach out with any questions. Best of luck