I’m new - how/where do I begin?

Question

Hello BP’s my name is Al. I’ve listened to a variety of BP podcast episodes over the years and while they are interesting, they are often talking over my head. I am an absolute novice when it comes to real estate as an investment, but I’d like that to change rather quickly.

not only am I a novice regarding real estate investments, but I’m also not very handy to complete moderate or major home projects, and the idea of chasing down past due rent is not exciting to me either. I do have money to invest, and understand profit margin will be smaller, the more work and tasks I outsource.

Overall, I’m hoping to gain an education on this forum, and begin putting it to practical use sooner rather than later.

would someone please help point me in the right direction so I can begin my new journey?

Overall, I’m hoping to gain an education on this forum, and begin putting it to practical use sooner rather than later.

would someone please help point me in the right direction so I can begin my new journey?

Ethan Gidcumb · Answer

Hey Al! I learned the most through reading books and networking. Reading gave me a basic knowledge that helped me understand the conversations I had at networking events; but, networking accelerated my learning and helped me understand what investors are doing to invest now.

When it comes to investing with very little responsibility, I have talked to others who found success with syndication. They explained they saw returns anywhere from 10%-30%. However, they took great measures to vet the syndication group. On the other side, I have also heard of some people getting scammed by syndication groups, so I'd definitely be careful if you go down that path.

Ned Carey · Answer

@Albert Rothe welcome to BP.      " I do have money to invest, and understand profit margin will be smaller, the more work and tasks I outsource."

Actually that is wrong.  If you do it all yourself it will take 3 times as long to get deals done. You will grow at 1/3 the pace.   The key is buying deals that are good enough you can pay others, and they are still good deals.

Albert Rothe · Answer

Thank you for all the helpful links to get me started.

Hamp Lee III · Answer

Welcome to the world of real estate investing! One of the best things you can do right now is educate yourself. And you've joined one of the best communities for all things real estate investing.

1️⃣ Download this ultimate beginner’s guide: https://assets2.biggerpockets.com/uploads/user_file/file_object/1694/UBG_2018.pdf

2️⃣ Read BP beginner books on investing: https://store.biggerpockets.co...

Also, read Rich Dad, Poor Dad by Robert Kiyosaki and Think and Grow Rich by Napoleon Hill

3️⃣ Subscribe to BP podcasts or YouTube channel and watch their webinars.

4️⃣ Ask questions here on the forums.

5️⃣ Visit (join) a local (and legit) real estate investment association.

6️⃣ Consider joining a BP bootcamp: https://www.biggerpockets.com/blog/real-estate-investing-bootcamps

I wish you all the best in your investing journey!

Albert Rothe · Answer

Thank you, I’ll do that.  is it the book by Joshua Dorkin?

Jesse Sychowski · Answer

Everyone will have a different opinion on what direction to go and I think it strongly depends on your goal (passive income or more hands on) as well as your funding (private lending, hard money, etc)

I'd suggest the book by BP "How to invest in Real Estate" it's a short book but gets straight to the point. It'll give you a good idea as to how pretty much all investment strategies work. By the end of the read you should have a good idea what direction to follow.

Me personally, I'm focused on flips in the Polk County FL area and using the profits from these flips to invest in a multifamily (2-4 units). I like the more hands on approach rather than passive income as of right now.

Sloane Kraftsow · Answer

Hi there! Welcome to the BP Forums, and congratulations on your first post. I was also a newbie and found connecting with like-minded individuals very beneficial. Lets connect!

Jacob LeBar · Answer

Yeah you can partner with someone, you can go to meetups preferably in person, start networking on websites like facebook or alignable.

Albert Rothe · Answer

I’m willing to put in the work to learn from the BP group but it would be helpful if someone could offer me direction to narrow my education focus.

Jesse Sychowski · Answer

Hey Al,

I think your in the right place. This website is full of all the knowledge you'll need to pursue your RE investment journey.

I think the best place to start would be to figure out what kind of investments are you looking for? (Under $100k fix & flips, long term rental, AirBnb, etc)

Then decide on what market best suits your needs, I personally keep my investments within an hour from my house.

Once you have a good grasp on the direction, I'd use the forums and learning tools BP has to learn everything you can about that investment strategy.

If you have any questions please feel free to reach out. If your in Florida and need a hand on getting started I can help.

I’m new - how/where do I begin?

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