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Updated over 8 years ago on . Most recent reply
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New member from Michigan
Hello
I always hear about people making money from real estate investments, so i went searching for the best place, I finally signed up for BiggerPockets. I currently work in the IT field but my goal is to work for myself in the near future. Hopefully i can build a great networking structure in Michigan as this is my city and I'm very proud of it. Thank you for the time on reading my intro and hopefully we can do business together in the future.
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Rafie Ahmed
From one newb to another.. Other advice is probably top notch compared to mine but I'll give you the guidance that I've been following so far.
#1: anything you can learn from those costly seminars you can learn by networking with those who have done it and reading RE books/listening to Biggerpockets podcast and asking questions on here.
I also took a free seminar and it was 90% hype 5%give me your money 5% information.
#2 listen to Biggerpockets podcast #142, 22 1/2 actionable steps to get started. Seriously such a great beginners lecture I look forward to listening to it for the 3rd time and starting task that I don't already do (my favorite is analyze 3 deals a day)
#3 continuation of #1, meet the following key individuals
Investor/buyers agent
Loan/banker to see where you stand loan limit wise
Wholesalers/hard money lenders
Like minded individuals
#4. Locate your local RE groups via MeetUp, I've personally developed at least 4 great relationships over the past month or 2 alone (not just 4 business cards but people I can ask any dumb question I want)
#5 develop your 5 to 10 year goals with real estate, this can change. You may want to flip, buy and hold, "BRRR" you'll learn what that means eventually.
#6 put what you've read to action (going to open houses), asking good questions, analyze properties, walk your city to feel out neighborhood, and determine what comparables are.
#7 my personal plan, get RE agent license. If you have the funds, I believe the analysis you can perform yourself with MLS and comps is so important (if you're a numbers guy).
None of these have a particular order but they are the things that I'm currently doing and I'm sure there is plenty more to do that more experienced folks can lend a hand on.
Good luck, I'm a Michigan guy (Dearborn graduate) as well and I plan on investing in the area in the future so good luck to you and maybe we can partner up / share ideas in the future!