Interested in passive income

[Kiran Nathani]

Hi,

I am looking to invest in real estate and have passive income. But want to learn more about real estate and understand before investing in any deal. Joined this group to reach my goal of having passive income and financially free. Thank you.

[Hunter Reed]

Kiran, real estate is arguably the best long term investment that is offered. Learn to find great deals. I highly advise you to reach out to people that are experienced real estate investors and ask them to mentor you. The bigger pockets store has the best REI books that you could possibly ever read. That's exactly how I got started. I can not tell you which passive income strategy in real estate to utilize because there are so many. As you continue to grow your knowledge in real estate you will know which investing niche fits your needs. Good luck on your journey!

[Sloane Kraftsow]

Hi Kiran, welcome to Bigger Pockets. I would love to connect with you!

[Sheri Fluellen]

Agree with @Hunter Reed.  First steps are to get "some" information (don't think you can learn it all because it's impossible).  You need to learn enough to put you at less risk of making a really bad decision.  But ultimately, mistakes and problems will come no matter how much learning you've done.  It can be great to also partner with a more experienced investor to learn the ropes.  This might depend on the real estate strategy you use.  keeping it short term partners is best so you don't get stuck with someone you don't like. Also, consider a mentor and/or coach.  There are mentors who focus on just the teaching part of real estate.  Then coaches, like myself who is a High Performance Coach and also an investor, are capable of helping you grow and take steps forward with Courage while also helping align the rest of your life with your investing.  I wish you the best!!

[Steven Foster Wilson]

Hi Kiran, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

[Kiran Nathani]

how to find distressed properties?

[Callaway Pate]

Hey @Kiran Nathani, it's great you've decided on starting. I'm assuming you're in the DC-Metro area. Finding distressed properties is tough even for experienced investors in the area but relatively simple. You have to put yourself out there and start calling owners of properties you think are distressed. You can do this by getting call lists from sites such as PropStream or driving for dollars, writing down the addresses, and looking up the owners in the public database. It may be worth your time to connect with local real estate agents and ask if they can teach you how to search in exchange for generating leads for them. Generating good deal flow is arguably the hardest part of starting in real estate but if you're consistent you'll always have something in the pipeline.

Best of luck!

[Chris Seveney]

@Kiran Nathani

Feel free to reach out and happy to share our experience and what to look for

[Kiran Nathani]

Quote from @Hunter Reed:

Kiran, real estate is arguably the best long term investment that is offered. Learn to find great deals. I highly advise you to reach out to people that are experienced real estate investors and ask them to mentor you. The bigger pockets store has the best REI books that you could possibly ever read. That's exactly how I got started. I can not tell you which passive income strategy in real estate to utilize because there are so many. As you continue to grow your knowledge in real estate you will know which investing niche fits your needs. Good luck on your journey!

[Kiran Nathani]

Thank you !!

[Denis Ponder]

I would grab a book or two from the store and give them a read.  You will learn basics, lingo, and get introduced to some different ideas.  Then you need to figure out what path you want to take and get hustling.  Work on analyzing some deals, get your finances in order, get pre-approved, find a deal, and buy it.  All when you are ready, of course.  But learn enough to get in the game, then make a play and learn from that as well.  Good luck!

[Joseph Bui]

Its tough to get cash flow right now unless you are buying in Midwest markets. I have 9 doors across a couple midwest markets (Memphis and Detroit) and they were all cash flowing immediately with a minimum 10% cash on cash, but usually more. I'm based in Seattle and I purchased them all remotely. The key is putting together a trusted team on the ground. Would be happy to connect and knowledge share if you are interested.

[Dimitrius Kiritsis]

Hey @Kiran Nathani, welcome to BP! Whether you're looking to be an owner/operator or invest as a limited partner, it is essential to educate yourself. There are an array of books, videos, and groups to learn from out there so be sure to use all of them to your advantage.  

If you are looking to invest as an owner/operator, It might be a good idea to start out by house hacking. This way you can learn what it takes to be a landlord, produce extra income that can be put towards your mortgage, and build equity.  Additionally, house hacking is usually the cheapest way to get into real estate investing due to accessibility to conventional mortgages with lower down payments and interest charges. 

If you are looking to invest as an LP, sponsor due diligence is the name of the game. I always recommend looking at the number of deals the sponsor has successfully exited, their average returns, and the collective years experience between all of those with an executive position. Once you have vetted out some reputable sponsors, you can then look at the deal itself. 

How's the past year been for you in terms of your goal to be a full time RE investor?

[John Oks]

Quote from @Kiran Nathani:

Hi,

I am looking to invest in real estate and have passive income. But want to learn more about real estate and understand before investing in any deal. Joined this group to reach my goal of having passive income and financially free. Thank you.

Welcome Kiran, I would love to connect as well. In terms of passive income, my favorites are NNN leased properties and build-to-rent (BTR).

[Wale Lawal]

@Kiran Nathani

Investing in real estate can be a powerful way to earn money and gain financial freedom. Begin by learning from key books, online classes, joining groups that talk about real estate, understanding different ways to invest, and knowing how to look at finances and market trends. Make a plan that includes your goals, budget, who you want to buy from, what you're looking for, and your approach. Listen to podcasts, watch online seminars, network, find a mentor, and use software for managing properties and tools to analyze deals.

Start your first investment on a small scale, like buying a single house to rent out or a small apartment building. Look into ways to borrow money, do your homework carefully, and aim for a place that will make more money than it costs to keep.

Good luck!

[Kiran Nathani]

Quote from @John Oks:

Quote from @Kiran Nathani:

Hi,

I am looking to invest in real estate and have passive income. But want to learn more about real estate and understand before investing in any deal. Joined this group to reach my goal of having passive income and financially free. Thank you.

Welcome Kiran, I would love to connect as well. In terms of passive income, my favorites are NNN leased properties and build-to-rent (BTR).

[Kiran Nathani]

thank you