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Updated almost 7 years ago on . Most recent reply

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Jathan Bingham
  • Payson, UT
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New investor in the Utah county, Utah

Jathan Bingham
  • Payson, UT
Posted

Hello, I am a new investor just getting started.  Looking to purchase my first investment property.  Any words of advice  would be greatly appreciated. 

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Account Closed
  • North Salt Lake, UT
6
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Account Closed
  • North Salt Lake, UT
Replied

@Jathan Bingham

Welcome to Bigger Pockets!

First thing I would do is check out the Ultimate Beginners Guide.  Read all the way through it, and it will give you a good place to start.  http://www.biggerpockets.com/UBG

Start by building a plan. What kind of investing do you want to do? Fix and Flip, Buy and Hold, BRRRR, Wholesaling? Figure out what you are most interested in, then refine your plan from there. Say you want to Buy and Hold rental property. What kind of property? Land, Single Family Homes, Multi-Family homes? Figure out your plan and write it down.

Then start doing some research into that strategy.

How are you planning on Financing your investment properties?  There are tons of different methods of financing properties for different strategies.  Find the ones that work best for you and what kind of strategy you are interested in.

There are TONS of tips on the BiggerPockets Podcast.

Every Wednesday, BiggerPockets hosts a free hour(ish) long webinar.  You can find it and sign up on your Dashboard.  I also really recommend PRO because you can watch all of the past webinars.  They are incredibly informative!

Also, there are a ton of books that are worth checking out.  If you are interested in rental properties, definitely check out "Rental Property Investing" by Brandon Turner.

J Scott has an incredible book for house flipping if that's what you're interested.

If you have questions at all, everyone here on the forum are super helpful!

Hope this helps!!

-Emily

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