New member from New York

[Edgar Williams]

Hi everyone! I'm new to the world of investing in real estate, although i'm new I am very motivated and eventually want to invest fulltime. I am a native new yorker who currently works in the mental health field as a counselor,I do a lot of talking daily and figure this is a needed skill for real estate investing. I've heard some great things about BP and look forward to soaking up infromation and getting started.

[Dominic Jones]

Edgar, welcome to BP. Definitely read the links that Mr. Linval left for you.

One of the first things you want to do when starting to get into real estate is identify your strategy. You should ask yourself...

What are my goals with investing in real estate?

What do I want to achieve with investing in real estate?

How long do I want to take to achieve this?

- By goal setting, you can reverse engineer where you want to be 5 years from now, 10 years from now, or a year from now, and start planning out the strategies and techniques within the realm of real estate that you can use to get you there.

For example... I want to invest in real estate to build long term wealth via passive income.

I plan on doing this by being a landlord (more specifically) an investor who only purchases residential multi-family houses 2-4 units. [Long Term Goal: Have a real estate portfolio that generates my full-time salary in passive income. 2-5 years from now]

I also am a great marketer and could use more income now so wholesaling is also another investing strategy that I am getting involved in. [Short term Goal: Make more cash now. Present - Year from now].

You should also consider your strengths and weaknesses. What you're good at doing, what you're not good at doing, and that will also help you navigate through which techniques will be best for you. For instance, most people who never used a hammer before wouldn't go running to Fix & Flip houses. And most people who are all about the hands on dirty work, don't exactly go running to the courthouse to buy tax liens or invest in any type of papers/notes.

Once you find your strategy... start reading as much as you can about that particular technique. Only focus on that technique and you should be on your way to learning a lot of actionable steps from the pros (I'm only a year into my real estate education). Hope this helps.