Very interested & overwhelmed with all the wonderful information

Very interested & overwhelmed with all the wonderful information

Auburn, WA · Member since 2014 · 4 posts · 5 votes

A bit of background/introduction before I begin.  My name is Darren and I currently live in the Auburn area of Seattle.  I have lived in Seattle since '05 when I moved up for a change of scenery from Texas.  I am married, 40 yrs old, 2 children, a reasonable career in the printing industry for a regional healthcare organization and a thirst for continued improvement (both personally and professionally).

I recently attended the Than Merrill workshop and bought into the 3 day seminar.  Now I know what a lot are saying but one post has stuck with me; It's 20% information and 80% up-sell for the Mastery program, leave your wallet at home.  I will lock up the credit cards and attend for the 20%.  I figured since I am so green anything I learn out of the 20% will be beneficial.  

I can read all day and hope I didn't miss a bullet point but at the end of the day, with my head held high I admit I need a hand to hold, or at least a boot to push me over the right cliff.  I am trainable, smart and motivated.

Thank you for reading.......  I will be here everyday trying to soak up as much as I can.  Very glad I found BP.

4Reply
87 views

Most Popular Reply

Real Estate Agent · Riverside, RI · Member since 2014 · 70 posts · 28 votes
12y

Hi Darren,

One thing that may help you keep from getting overwhelmed is to find an investment strategy to focus on.  What type of investing interests you, fix and flip, wholesaling, buy and hold?  Once you find an aria to focus on, work on learning everything you can about that specific investment strategy.  Don't worry about the rest.  I hope this helps, good luck!   

See this reply in the discussion

24 Replies

Jump to latestLatest
  • Investor · Western Montana · Member since 2014 · 110 posts · 36 votes
    12y

    Congrats for taking a start at all of this. One large thing I find helpful are all the podcasts. I do a fair bit of driving around and learn A TON just listening to those.

  • Real Estate Agent · Riverside, RI · Member since 2014 · 70 posts · 28 votes
    12y

    Hi Darren,

    One thing that may help you keep from getting overwhelmed is to find an investment strategy to focus on.  What type of investing interests you, fix and flip, wholesaling, buy and hold?  Once you find an aria to focus on, work on learning everything you can about that specific investment strategy.  Don't worry about the rest.  I hope this helps, good luck!   

  • Auburn, WA · Member since 2014 · 4 posts · 5 votes
    12y

    I just marked a good weekend worth of podcasts to start on.  

    I would imagine at this point I would be interested in wholesaling.  I would like to eventually have some rentals but feel to get my financial house in order wholesaling would be the way to go.

  • Real Estate Investor · Santa Monica, CA · Member since 2014 · 199 posts · 32 votes
    12y

    Hey @Darren Moeller welcome to BP! I was just going to ask you what are you looking to invest in and saw what @Marc Carlson  had written. I couldn't agree more! It's recommended to have multiple, but work on getting experienced in one before you go for another. A lot of people are doing flips right now because the market is hot and properties are appreciating. Flips are great for producing income but it is buy n hold that will produce wealth so we always say use your flips to fund your buy n holds :)

    Best of luck!

  • Real Estate Investor · Auburn, WA · Member since 2013 · 16 posts · 5 votes
    12y

    Hey @Darren Moeller,

    I live in Auburn as well and am just getting started in Real Estate. What has helped me get over the hurdle was reading posts from BP, reading various business and real estate books, and many podcasts. Looks like you are on the right path, my business partner and I would love to talk and possibly get together. I am sure we can help each other out and find some great deals in our area!

  • Auburn, WA · Member since 2014 · 4 posts · 5 votes
    12y

    I really believe Auburn is an up and coming market.   We purchased our home in a new construction subdivision just over a year ago and have seen a ton of upgrades to the area.   I would love to discuss how we could help each other. 

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    12y

    Welcome to BP community @Darren Moeller  It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    Wishing you the best!

  • Rental Property Investor · Seattle, WA · Member since 2014 · 149 posts · 58 votes
    12y

    @Darren Moeller Welcome to BiggerPockets! 

    I'm a newbie as well, and I'm about an hour north of you in Shoreline. I just started checking out Auburn as a possible buy and hold area, and would love to connect with you since you live there. 

    I read BP almost every day. I recommend you check out the information under the Learn tab. To respond to a poster directly, click on the @ symbol and part of the person's name. Also, you might want to check out your local real estate association. Good luck!

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Darren Moeller welcome to the site! It's great to have you here. Feel free to ask any questions in the forums. Seeya around!

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Darren Moeller 

    Welcome. Time to build the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 80 past ones to catch up on.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    Couple good reads

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good luck

    Paul

  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    12y

    Hey @Darren Moeller welcome to BP and I'm glad you're interested. Hope to hear more from you! :)

    BiggerPockets
  • Real Estate Investor · Seattle, WA · Member since 2009 · 308 posts · 61 votes
    12y

    Auburn is not an up and coming area. It is the exact opposite. 

    It is the best it is going to get. Use to be better and is declining.

  • Rental Property Investor · Lockport, NY · Member since 2014 · 119 posts · 109 votes
    12y

    Welcome, and congrats on having the right attitude.

  • Auburn, WA · Member since 2014 · 4 posts · 5 votes
    12y

    Thank you all for the replies.

    @Justin Case I disagree with Auburn being the best it will ever get.  There was a time that is became run down and forgottena nd in the last 5 years they have begun to revamp downtown, building condos and shopping in the square, scraping the old drive-in and putting in a plaza as they have in kent station and adding numerous subdivisions.  I will reiterate, I have no idea what I am talking about, but someone with a vision and deeper pockets than myself sees something in the old town of Auburn that was worth inveting in.

  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    12y

    @Darren Moeller Read a lot, learn all you can, find a local REIA, take people out for coffee or buy them lunch. Ask what they are doing. Find someone you can help in their business. And don't be shy about making colleague requests and asking to chat with people on the phone. Talking one on one is indispensable.

    Once the fog starts to clear set some goals for yourself.

  • Real Estate Investor · Seattle, WA · Member since 2009 · 308 posts · 61 votes
    12y

    Downtown condos are mostly for low income. 

    The mayor about ten years ago totally made a mistake with his plans on the downtown. Several local owners had to shut down. 

    There will not be much appreciation in Auburn. I know first hand.

  • Michele FischerPro Member
    Rental Property Investor · Seattle, WA · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    Darren, welcome to BiggerPockets!  Gotta agree that I don't see a lot of opportunity in Auburn, but who knows.  There won't be much appreciation in Longview either, still good to chase solid cash flow and an area you know and like.

  • Investor · Kent, WA · Member since 2015 · 624 posts · 274 votes
    11y

    @Darren Moeller Auburn may not be as "hot" as Seattle. But all of south King county is appreciating. And there are deals to be found in Auburn. Just depends on your goals and your strategy.

    @Brandon Johnston - just wanted to say hello.
    I am an active, full-time real estate investor if the two of you would like to connect.

  • Investor · Peabody, MA · Member since 2015 · 114 posts · 107 votes
    11y

    @Darren Moeller

    Getting started is indeed overwhelming. Especially if you've attended seminars and are listening and reading all of the great information here on Bigger Pockets. There are so many different ways to make money, people have different approaches and of course everyone has an opinion. The good news is there is no one right way that you have to figure out.  

    I remember everyone saying network, network, network. You should go to all the REI meetings you can, get involved everywhere you can and meet as many people as you can. While this is good advice it adds to that feeling of being overwhelmed. One thing that helped me was when I heard a very successful flipper/wholesaler say that he works with a group of about 6-7 other investors and that supports his entire business. They wholesale to each other, pass each other leads, use each other for references on good people, etc. You don't have to know and be connected to hundreds of people in order to be successful.

    We haven't yet found this small group but we are getting there. I have a couple of trusted people that I know have our best interests in mind and are smart enough to realize that we (or any other investors) aren't a threat. We can all make each other money if we just work together. 

    Find your niche, trust your gut, grow a thick skin and remove all negativity (like those saying your market is dead). Anything is possible and you may even find some new and improved way to make money along the way! It will all come, it just takes time.

  • Seattle, WA · Member since 2015 · 500 posts · 243 votes
    11y

    Welcome to BP @Darren Moeller. A lot of folks have chimed in already, so I will just add a few things that I have found helpful as I look to get off the ground myself.

    One is the podcasts. It's already been said, and you noted, but they are great for helping to motivate you and fire you up about getting into this area of investing the right way.

    Two is checking home prices. I have made it a nearly daily habit to take a quick browse through Redfin, Zillow, and the MLS of the geographic areas that I am interested in to find out what the public at large is valuing for various home sizes and amenities.

    @Ruth Bayang, @Brandon Johnston - I am interested in investing in South King and Pierce County. Just sent you a PM, would love to have a chance to connect and pick your brains about where you are seeing the opportunities in the region.

  • Real Estate Consultant · Federal Way, WA · Member since 2012 · 74 posts · 13 votes
    11y

    Welcome to BP!

  • RE Investor · Houston, TX · Member since 2015 · 26 posts · 8 votes
    11y
  • Investor · Kent, WA · Member since 2015 · 624 posts · 274 votes
    11y

    @Alex Chin, I'm no expert.. but there are opportunities everywhere in western Washington! What a great market we're in right now! I especially like south King county and Tacoma as well. As you know, inventory is low and the great deals are gone in hours... even the not so good deals are getting snapped up. I see home prices continuing to rise in our area for maybe 1-2 more years before another dip. 

  • Investor · tampa, FL · Member since 2014 · 38 posts · 11 votes
    11y

    welcome to BP!  

    Although my previous 2 homes were fixer uppers I have raised my family in each of them so there wasn't as much risk involved.  I am now venturing into the world of rehab to rent and understand how you feel with overwhelming horror stories and information I never would think of.

    I have found listening to to askBP and BP podcasts very helpful in easing my worry as I cannot possibly know everything that can go wrong before starting.  I have found many other podcasts on iTunes that also help educate me along with books on the subject.  

    Hopefully, I can retain most of the advice as I move forward but I believe keeping podcasts and forums like these as part of my routine should help.  Good luck!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.