New member from New York (Brooklyn)

[Tom Voigt]

Hi everyone,

My name is Tom and I am from Brooklyn, NY. I am a transplant since I was born and raised in Germany and moved to NYC in 2008. It's been great and I love it here. I work as an Account Executive for a large German ICT company.

I have a strong desire to create a business on the side while working my full time job, therefore I have recently started to look into RE investing and found Bigger Pockets during my research.  My immediate goal is to create a secondary stream of income with RE investing and see where it takes me. I have specifically been looking into rehab & sell investing in the NYC area (Brooklyn, Queens and Long Island). However, given the competition and high-price market I am not sure if those are the right places to start for a beginner!?

I probably have a million questions but would like to take this opportunity and ask at least a few to the BP community:

1. I have been reading a good amount about "flipping" (rehab and sell) houses, have listened to numerous BP podcasts, watched videos and would say I have a solid basic understanding of the mechanics and the idea behind. However, applying all these aspects in a real deal in real life is still a different animal. Do you have any tips on how to break through that barrier (e.g. find a local mentor or someone I could tag along with to get real life experience)?

2. What is your experience on rehabbing houses while working a regular full-time job since it might be difficult to stop by at the property during business hours? e.g. I have read/heard about examples where the investor hired a project manager that took care of the day-to-day management.

3. As a RE investing newbie, is there any recommendation as far as which investment method to begin with (wholesaling, rehabbing, buy-to-rent)?

Thanks a lot in advance, I am excited to join the BP community.

Regards,
Tom