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Updated almost 9 years ago,
New member from Syracuse, NY area
I'm Josh Russell from the Syracuse, NY area (Camden). I am going to get into real estate investing in the next few years. I think the end game for me is to own several hundred rental units, in the form of several largish complexes. Part of the reason I want to become very knowledgeable about investing is so I can get some people from my hometown into it, and help make my hometown a wealthier place. I also want to meet cool people and have interesting conversations. My biggest reason though, is to change the financial direction of my entire family. I come from working class roots, and my mission is to see both my siblings and I living very comfortably in a sustainable way. They have their own good jobs, but they also live in expensive areas, so I want to pass this knowledge on to them and their families.
I'm studying to become an agent first, so I can get to know the local market and save up money. My plan as an agent is to focus on listings and investors, and never stop marketing for sellers. I want to be able to offer several options to sellers, including a quick sale at reduced price to investor connections, listing on the MLS if it doesn't make sense as an investor deal, and recommending anyone they might need (contractors, decorators, cleaners, etc) if they want to improve their property before listing it on the MLS. For a personal investing strategy, I would like to do the BRRR strategy with multifamily. I also want to learn more about how affordable housing works financially, and put that knowledge to some good use.
I've read the following books:
The Millionaire Real Estate Investor by Gary Keller
Getting Things Done by David Allen
What Every Real Estate Investor Needs To Know About Cash Flow And 36 ... by Frank Gallinelli
The Book on Estimating Rehab Costs by J Scott
Fixing and Flipping Real Estate by Marty Boardman
The Millionaire Real Estate Agent by Gary Keller
I'm in the middle of Think and Grow Rich and New York Real Estate For Salespersons, and I have 20 or 30 more books on my 'to read' list.
I've read this article https://www.biggerpockets.com/renewsblog/2013/08/2...
and this thread https://www.biggerpockets.com/forums/21/topics/268...
and a good number of other articles and threads on BP, and listened to almost every one of the podcasts.
Right now I'm looking for non-commission paid work, full or part time, in support of a local investor or agent. I'm especially interested in anything that will get me exposure to estimating rehab costs, marketing, deal analysis, or the part of an agent's work that doesn't require a license. I don't really care how much it pays as long as I can survive on it.
I walked away from a secure job to find my passion. This is it. Real estate is what I am doing for the rest of my life.