Newbie trying to compete in Boise

[Brandon Pelfrey]

I am for sure a newbie with real estate. I have zero properties (I don't even own my own residential home) but I know that real estate investment is something I want to learn and succeed at. I am currently reading as many books as I can get my hands on, reading forums on BP, listening to the BP and other podcasts just about every day, trying my best to network, and trying to look at and analyze as many deals as possible, and trying to save up/increase my earnings aggressively for a down payment. My goal is to get into multi-family homes.

The desire is definitely there, however I am worried about how I can possibly compete with investors in my market who have more cash, financing, access to more deals, larger networks, and experience than me. I may be totally off, but it seems as though once a good deal comes around someone who really knows what they're doing will snag it fast before I get a chance.

Any advice, direction, commentary, or otherwise about how I can get my foot in the door and compete with the big players in the market will be much appreciated!

[Cody L.]

Originally posted by @Brandon Pelfrey:

I am for sure a newbie with real estate. I have zero properties (I don't even own my own residential home) but I know that real estate investment is something I want to learn and succeed at. I am currently reading as many books as I can get my hands on, reading forums on BP, listening to the BP and other podcasts just about every day, trying my best to network, and trying to look at and analyze as many deals as possible, and trying to save up/increase my earnings aggressively for a down payment. My goal is to get into multi-family homes.

The desire is definitely there, however I am worried about how I can possibly compete with investors in my market who have more cash, financing, access to more deals, larger networks, and experience than me. I may be totally off, but it seems as though once a good deal comes around someone who really knows what they're doing will snag it fast before I get a chance.

Any advice, direction, commentary, or otherwise about how I can get my foot in the door and compete with the big players in the market will be much appreciated!

All those people had to start somewhere.  I started with 0 clue.  Almost 10 years ago today.  There were no sites like this (which, looking back, might have helped me since I didn't know what I didn't know -- I just say "f it " and did it)

The only advice I can give is don't over think things.  I know that sounds bad but I see it here all the time. People worry about if they should factor 6.25% or 7.41% for vacancy.  In the grand scheme of things that's a rounding error.  Find a property you can cut your teeth on.  Build a bio that you can use to get more properties and be taken seriously.  Soon the deals come to you.