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Updated over 2 years ago on . Most recent reply

User Stats

23
Posts
33
Votes
Shannon Glanton
  • Investor
  • Germany
33
Votes |
23
Posts

How did you get started? Advice to newbies!

Shannon Glanton
  • Investor
  • Germany
Posted

First post alert! Greetings Bigger Pocket Family!

For those seasoned investors (or newbies), how did you get started? Let's be honest, there is a wealth of information found all over the internet and in Podcast. However, when faced with this endless bucket of information, it is fairly difficult to not fall into "analysis paralysis". I have read several books, to include: Long-Distance Real Estate Investing, BRRRR, Estimating Rehab Costs, The Book on Advanced Tax Strategies (VOL 1 and 2), and quite a few leadership books. However, I am still finding myself asking the question "Where do I start?".

I was hoping that someone would be willing to share the beginning of their journey, for those out there,  like me, who are stuck on the hamster wheel. For those who are starting with zero experience in real estate, outside of books and podcast.  For those starting at "Level One".

I am so thrilled to be on this journey and I thank you in advance for any nuggets that you're willing to share.

- Shannon

  • Shannon Glanton
  • Most Popular Reply

    User Stats

    1
    Posts
    12
    Votes
    Nii N Nortey
    • Flipper/Rehabber
    • Albany
    12
    Votes |
    1
    Posts
    Nii N Nortey
    • Flipper/Rehabber
    • Albany
    Replied

    This is just a tip, select a market you want to invest in, call it your nitch. Zipcodes could make it easier to remember especially if it's out of state. 
    Start window shopping in the price range you looking for, by setting alerts on the MLS. Go to realtor.com or zillow.com and save the properties in your favorite this way you get daily or weekly alerts for what properties are available and if your price range is realistic or what are their conditions.

    Find ways to finance now. If you have money save, borrowing from your 401k, friends or family or even your credit cards, but just be realistic with yourself if you can handle it.

    After your window shopping you will get a fair idea of the market prices in your location and at time on realtor.com you see in the neighborhood section what other house are selling around the location. 

    The rest of everything is all up to you taking the leap of faith, being determined to get it done during the process and being consistent. Seek advice when necessary. Always but title insurance and casualty insurance to protect yourself and your asset. 

    Best of Luck. 

    Prime yourself with the market 

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