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Updated over 7 years ago,

User Stats

2
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2
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Ross Hollis
  • Henderson, TX
2
Votes |
2
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Newbie in East Texas

Ross Hollis
  • Henderson, TX
Posted

Hello Bigger Pockets!

My name is Ross, and I am looking to really get started in the investing world after entertaining the idea since my teenage years. I work a night job at a hotel, and although I don't make much money at all, I have been able to save up a few thousand dollars to begin with. I also think the hours I work offers me the advantage of being able to go look at real estate in the early morning/afternoon when I get off work. Right now I'm mostly trying to soak up as much as I can about the process, decide on a strategy, network as much as possible, and most important of all I need to get out and look at real estate. 

As far as goals I've tried to not think too small at first, but also not dream of being the next Grant Cardone. I'd like to make a comfortable living in passive income each month, and free myself up to spend time with my family and pursue further real estate deals full time. The hardest part for me as far as confidence is getting that first deal done. Getting stuck temporarily after that won't stop me because I'll know I've done a deal and can do another one. 

So for anyone that invests in a smaller market, say towns 100k people or less, do you find that passive income is harder to come by than in a major market like Dallas? 

What strategies might work best for me given my circumstances (little bit of money, no experience, small town)? My end goal is passive income, but perhaps I should try wholesaling or BRRRR first to build up capital? Maybe try to raise private money and go straight for rentals? Single or multifamily?

And what kind of properties should I begin looking at to learn my market and the industry in general? Should I call up a broker and ask to see everything they've got? Pick out a few deals from online to analyze and then go look at the best ones?

Thank you for reading this entire post. I appreciate anyone that takes the time to stop and answer a newbie's questions. Please let me know if I can return the favor somehow, and for any investors in my area I'd be happy to take you out to lunch. I'm excited to hear what everyone has to say. Thanks again for you time. 

-Ross

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