New member from Cape may New jersey

[William M.]

hey gang I'm a new member from Cape may county New Jersey. I'm a navy veteran and work in aviation. I previously owned property in Virginia Beach that I recently short sold. I'm here to learn the process so I never have to go through that experiance again. I bought the house as my home in 2010 when my realtor told me the market has dropped as low as its going to go and can only go up, I didnt now anything about realistate and took his word on it. I lived in the property for a year then I was sent over seas for a year and rented the property out for equal to the mortgage but still lost money every year in management and repairs. the value dropped another 40k and had to short sell it.  I would like to learn more and eventually own rental property again that can cash flow and  hold equity. I would like to start with wholesaling as I learn the process and the local market better. My father in law is a contractor so maybe as the process progresses we can work out some deals together. 

Thanks 

Will 

[Linval T.]

@William M.

Firstly, thanks for your service!

Welcome aboard the vibrant BP community. You already have some experience and with additional effort, will quickly climb the REI ladder to its pinnacle.

Since you express a renewed interest in buy and hold as well as wholesaling, i added the below links.

http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)

http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)

https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)

https://www.biggerpockets.com/renewsblog/2014/10/09/getting-started-real-estate-wholesaler/ (BP Podcast 091 Wholesaling)

https://www.biggerpockets.com/renewsblog/2013/10/31/wholesaling-podcast-mike-nelson/ (BP Podcast 042 - wholesaling)

To be more successful, you simply have to work on the other elements to progress your REI pursuit. Below are some quick links to get engaged on this site.

• http://www.biggerpockets.com/starthere
• http://www.biggerpockets.com/meet
• https://www.biggerpockets.com/alerts
• How to Use @Mentions on BiggerPockets
• https://www.biggerpockets.com/rules
• https://www.biggerpockets.com/terms
• https://www.biggerpockets.com/invites
• https://www.biggerpockets.com/perks
• https://www.biggerpockets.com/forums/categories

REI books suggested by BPers

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?utm_source=search&utm_medium=internal&utm_campaign=books

Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.

Feast on the Podcasts, #askbp Podcasts, blogs and webinars

Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.