Hello, I'm new to BiggerPockets

Hello, I'm new to BiggerPockets

Investor · Middlebury, CT · Member since 2014 · 5 posts · 6 votes

Hello Everyone!

I'm new to BiggerPockets or BP (as I read in some of the post). I just joined today and would like to formally introduce myself as suggested. I'm a newbie to Real Estate Investment (REI - I believe that's the acronym) and I joined BP to simply learn more about REI. My name is Leonard Williams Jr. and I currently live in Middlebury Connecticut. I'm originally from Los Angeles, California, my hometown which I grew up most of my life. I'm married with kids and have a professional career as a middle manager with a large fortune 500 company. I simply know nothing about real estate investing other than that it's another investment vehicle to build wealth. As with most Americans, I'm concerned with having enough money for retirement and not having more time with the family without having to worry about money, so I started to do some internet research and read several article about real estate investment such as flipping houses and buying & holding, etc. Then I've purchased some books to gain more learning and educating myself by reading a few books such as "The Millionaire Next Door," "The Millionaire Real Estate Investor," ect. I'm convinced, Real Estate investment is the best investment vehicle to provide wealth and financial freedom. Now, I want to learn more about real estate investment (specifically wholesale, flipping, buy & hold, and renting homes) and build financial wealth from some of my current hard earned savings (the little that I have), good credit, and 401K employee retirement investment if necessary because I'm tired of trying to live or act rich (living above my means and keeping up with the joneses). My BIG why is to build wealth to provide me freedom and opportunities to spend more time with my wife, kids, and love ones without worrying about money. I know working for someone else is not the best way and being an entrepreneur is with using the income to reinvest back into the business to grow and not spend it all away on materialistic things such as high price homes and luxury cars even though I can probably afford it right now. I have no backup plans if something were to ever happen to me and I can longer work to provide for my family...it's my worst nightmare and I need to do something about it.

The reason why I joined BP is because I actually read an article this morning on Yahoo Finance titled, "This Reality TV Star Wants to Teach You How to Flip Homes - for a $34,000 fee," stating at the end of the article that BP is one of the best source to network and learn about REI. It's funny how a negative article about Than Merrill, CEO and Founder of Fortune Builder, lead me to BP. The article was basically about how so called Real Estate Guru such as Than Merrill uses misleading marketing tricks and gimmicks with their low cost or free introductory seminars to get newbie investors such as myself to spend thousands and sometimes tens of thousands of dollars on Real Estate investment support, mentoring, and tools. At the end of the article, Rick quoted Will Barnard, "Barnard's advice to beginner flippers: Devour books, start with something as small as a mobile home, find a mentor even if you have to work for them for free, and frequent networking sites such as Bigger Pockets. “Stay away from guru programs,” he adds. “They make it sound as if money will fall from the sky. There is no easy money.”

Then I went to BiggerPockets, like what I read and joined. My introduction is long (and I apologize), but it was not to start a blog or thread about Than Merrill or Fortune Builder, but to explain how I even came across BiggerPockets and why I joined. Like I stated early in my introduction, I'm a newbie and I'm vulnerable to world of REI who truly want to know how to build wealth using Real Estate. I'm not looking for a short cut, get rich quick method, or even pay some of my life savings away to learn about REI - that simply plain stupidity in my opinion (no offense to any that has paid a lot money to learn about real estate investment and hope you gain a returned on your investment). However, I'm willing pay my dues by putting in the necessary hard work, hours of learning & education, time, patience, and coaching to learn about REI the right way. I'm excited & motivated about my future in Real Estate and joining BP. I will continue to educate myself through books, credible internet sources, reading everything BP has to offer through webinars & blogs, before I do my first deal and start small in either flipping or renting properties. Thank you all in advance for any support to point and guide me in the right direction!

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Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
11y

@Leonard Williams 

Welcome. Time to build the legacy and 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 90 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

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  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @Leonard Williams 

    Welcome. Time to build the legacy and 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 90 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

  • Real Estate Investor · Houston, TX · Member since 2010 · 499 posts · 206 votes
    11y

    Hi Leonard,

    Sounds like you're on the right track.  I think you'll do well. 

  • Investor · Middlebury, CT · Member since 2014 · 5 posts · 6 votes
    11y

    @Paul Timmins. Wow! Thanks for the tips and advice....I really appreciate it. I'll definitely start and look into all of your suggestions, reads, roll up my sleeves, and dive in. 

    @Leslie A. Thank you for the encouragement. Believe it or not, it means a lot to me.

    Thank you both...

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    11y

    @Leonard Williams 

    welcome to the site.

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    Welcome to Biggerpockets!!!

    I totally understand your motives as that is ours too! We invest for two reasons. 1) for me to be able to stay home with our kids while providing our family with an 2nd income 2) for my husband to be able to permanently retire in 15 years when he retires from the navy (god/navy willing).

    We are buy and hold investors in single class A real estate, which allows us to invest while working full time! We self manage from all over the country as we invest locally and long distance. Our lifestyle means that local is only temporary. We buy foreclosures and short sales. We put as little down as possible. We get forced equity through fixing cheap fixes that turn people off (bad wall color etc) and going through the short sale process (5-15% cheaper)!

    Don't let analysis paralysis get you! Bought our first houses 3 yeas and we now have 5 houses with another 5 houses in the plan for the next 18 months. Our first houses wasn't as great as our second deal and so forth. The key has just been to baby steps. One deal at a time and know that you will grow and make mistakes. Don't let those mistakes hold you back.

    Don't forget to check out the blogs and podcasts. Participating in the forum is a great way to network, learn and give back. Another GREAT resource is everyone's signature. MANY of us, including myself have put together a blog/website about our niche, strategy and business model. Think of them as "free" books. These are GREAT free resources too!

    Look forward to seeing you around! Please feel free to pm me if I can help! 

  • Real Estate Agent · Greenville, SC · Member since 2014 · 86 posts · 30 votes
    11y

    Welcome the this awesome community. Once you really delve into all the recourse found here it will blow your mind. Great people and the podcast is above top shelf. Hope to see you around the site!

  • Brett SynickyPro Member
    Solo 401k and SDIRA Consultant · Orange, CA · Member since 2013 · 876 posts · 498 votes
    11y

    @Leonard Williams ,

    Welcome to the best real estate site on the web.  I'm always amazed at how much I learn from BP.

    Happy investing!

  • Jonna WeberPro Member
    Moderator
    Investor · Boise, ID · Member since 2011 · 1k+ posts · 736 votes
    11y

    Welcome @Leonard Williams - sounds like a great article you read that lead you to BP. My husband is at a fortune 500 company too - and we love the second retirement income stream that REI is creating alon side his W2 income. The books you've chosen are awesome to get started with! If you commute, I'd highly recommend that you download some podcasts to turn drive time into a really valuable education time.

    See you around the site!

  • W Hartford, CT · Member since 2014 · 32 posts · 8 votes
    11y

    @Leonard Williams  welcome to BP! There is a local meet up for BP members on January 14th at the Wood n Tap in Rocky Hill, CT.  You should check it out if you're interested in meeting other RE investors in person. It's being put together by @Account Closed  held in Fairfield, CT at the end of each month. 

  • Investor · Charlotte, NC · Member since 2013 · 159 posts · 44 votes
    11y

    @Leonard Williams Welcome to BP!  There is nothing else on the web like Bigger Pockets.  You'll have plenty to read and learn.  @Mike Curley mentioned a couple meet ups happening in the next couple months, and I'd encourage you to go check them out.  They are a great way to introduce yourself to the investor community and network like crazy.  Don't hesitate to reach out if you have questions.  

  • Rental Property Investor · MA · Member since 2014 · 420 posts · 213 votes
    11y

    Welcome to BP! Good luck!

  • Investor · Middlebury, CT · Member since 2014 · 5 posts · 6 votes
    11y

    @Mike C and @Salvatore Rondinelli. Thanks and I appreciate the invite to the local meet up group meeting for like minded real estate investors. Just like Paul Timmins suggested to me, I'll defintiely attend the one at Wood n Tap in Rocky Hill, CT on January 14. Can either on of you guys provide me the time of the meet up group meeting time to meet at Wood N Tap? Thanks again!

  • Jon HuberPro Member
    Rental Property Investor · Boca Raton, FL · Member since 2014 · 1k+ posts · 713 votes
    11y

    @Leonard Williams

    Welcome to the community! Be sure to be as active and engaging as you can. This site offers a tremendous amount of information, but only if you seek it out. Read the blogs, post your questions, and the podcasts are amazing. The best free education you can get. Good luck out there.

  • Investor · Arlington, VA · Member since 2012 · 1k+ posts · 491 votes
    11y

    @Leonard Williams 

    Nice introduction!  Welcome to BP!  You have come to the right place for all things real estate!

  • Hartford, CT · Member since 2014 · 35 posts · 12 votes
    11y

    @Leonard Williams 

    Welcome Leonard! The URL below has the meetup info.

    http://www.biggerpockets.com/forums/521/topics/156997-hartford-ct-meet-up

    Good luck!

  • FL · Member since 2009 · 2k+ posts · 357 votes
    11y

    @Leonard Williams,

    Welcome to the Best Real Estate Site on the Net.

    It is always nice to see another Ct., resident in the Forums.

    Click on the “learn tab” at the top of this page, and you could be spending many hours on the Information that is available.

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    To Make the @ work do the following:

    Hold down the shift key and type the following: @?

    Look below this Window, and you will see a list of list of names of people who have posted in this thread.

    Click on the name of the person that you want notified via an email that you responded to them.

    If you are a Colleague with anyone that has not posted in this thread, and you want them to see your post, hold down the shift key, and type the @ and the first 4 letters of the first or last name.

    Look below this Window, and click on your Colleague's name.

    They will be notified via an email about your post in this thread.

    Raymond

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