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Updated almost 10 years ago, 02/12/2015
Newbie from Syracuse / Albany, NY
Hello everyone! My name is Todd Konifka and I am a newbie to realestate investing and BiggerPockets, although i have been running through the Forums for a few weeks now. I am currently deployed overseas but I plan on starting my REI buisness when i get home with a multifamily owner occupy. I was hoping to focus on Buy and Hold properties to rent out and establish passive income as well as flips and wholesales with proper instruction and guidance. I am a civil engineer in the Airforce but i have always been interested in realestate and I think it is time i started to make a transition to something I see as being a possible passion instead of a job. Any advice or help is always appreciated. Thanks for your time!
#2 New Member Introductions Contributor
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#2 New Member Introductions Contributor
- Specialist
- Rockland, MA
Welcome. Thanks for your service. A buddy closed several deals including a 242 unit while deployed.
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 100 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. You can begin by phone.
Consider checking out HUD homes for small multi's owner occupied gets first crack.
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
Good luck
Paul
Paul, thank you for the information. Although the "fantastic" internet restrictions here keep me from viewing the podcasts i will jump on the additonal resources. Thank you for taking the time to respond to me i appreciate it!
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#1 Questions About BiggerPockets & Official Site Announcements Contributor
- Real Estate Broker
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Welcome to the site Todd. O.O. multi is an awesome way to get in the game. The financing is easy to get & your down payment
Will be extremely low.
Hi and welcome to BP!
Welcome new member! Bigger Pockets is the most innovative and educational site available to learn about real estate investing. Learn from those investors most active in the market today. You will find brand new people to the game and those that have been polished with years of experience, both good and bad. In my several decades of investing I have found that purchasing with cash flow as the number one goal and the secret to success in real estate. I have also learned that while buy and hold may be boring it is ultimately the best strategy. Use leverage but use it cautiously. Enjoy the experience.
All the best!
Thank you everyone for the warm welcomes and information!
Welcome to BP @Todd Konifka ! I am also an investor looking to get started in the Syracuse area. I'm hoping to put an offer on a multi family in the next couple weeks. Best of luck and thanks for your service!