New to BP! Suggestions?

Question

Hello BP Fam,

I am new to BP & real estate investing. Currently I am a realtor in Bellevue, WA and Seattle area. I am really intrigued by real estate investing, wholesaling, and finding deals. Been in real estate for almost 1 year and working with several investors I was fascinated by the entire process and have mad respect for people in this industry for their drive, knowledge and persistence. This community is GOLD and I have been learning so much. Grateful to be a part of it and get to know ya'll :)

What are some suggestions ya'll can give me for just starting out? Are any of you from Greater Seattle Area? What's your favorite book on this topic? What has been the most challenging part of starting out?How can I find a mentor?

Look forward to hear from you guys.

Nat

Account Closed · Answer

@Natalie Ratko

I would strongly suggest that you read about all the real estate niches on BiggerPockets over the next few months and find one that aligns with your short-term and long-term investment and life goals. Each niche has pros and cons and it really comes down to which one you are most passionate about. I prefer manufactured (mobile) homes with land personally. I have found that once I knew my "WHY" I was able to focus on one niche that checked off all my investment criteria. Also, in order to avoid the shiny object syndrome, I have sought out "superstars" that I can joint venture with in other niches that take the lead on the deals. This way, I learn from them and make money, but I stay focused on my investment niche, manufactured homes with land. I hope this helps. Welcome to the BP community!

Nghi Le · Answer

@Natalie Ratko

I'd encourage you to check out all of them; my opinions of good meetups have differed from others.  I like:

• Fixated on Real Estate - largest meetup outside of the REIA clubs.  ~150-200 people each month.  Next meetup is this Wednesday.
• Addicted to ROI - good topics, different blend of investors than most meetups.  A lot of focus on out-of-state investing.  Have a webinar and an in-person meetup each month.
• Real Estate At Work - biased since this is my own meetup.  Just pure networking and food during lunch hours.  Twice a month in south Seattle and Bellevue area.  Next meetup is next Tuesday in Bellevue.
• Cascadia Investors Alliance - pure networking and food during dinner hours, 4 different locations each month.

Dylan B. · Answer

@Natalie Ratko I would suggest Mobile Home Park investors with Jefferson Lilly and Apartment building Investing with Michael Blank.  Although they are specific podcasts, you can definitely pick up a thing or two.

Grayson Wester · Answer

Welcome to Bigger Pockets Natalie! I suggest signing up for the webinars. They are very informative and have taught me a lot.

Natalie R. · Answer

Thank you Rob! :) I really appreciate that. Won't hesitate to reach out.

Natalie R. · Answer

@Nghi Le I know Seattle's real estate is very active, wasn't sure how strong the REI community was. That's great news, I definitely would love to check out one of the meetups. Do you have a favorite?

Natalie R. · Answer

@Dylan B. Thank you for taking the time out of your day to write on my post, super grateful! I have already started the Beginners Guide & a book a gentlemen here recommend "No (Low) Money Down" So will see how that goes. Also just getting started with the Podcast which is super informative also. Thank you. Any other podcasts that you listen to?

Nghi Le · Answer

Seattle has a very active real estate community, and most of them are not on BP.  There's an average of 3 meetups a night (search for "Real Estate" on Meetup).  You can also check the BP events page; some of them do post on BP as well.

Rob Beardsley · Answer

Hi Natalie,

Welcome to BP! If you're interested in more educational resources about REI, let me know and I can share my favorites with you. Good luck

Dylan B. · Answer

@Natalie Ratko You have come to the right place for Real Estate Investing!

I would first suggest you educate as much as possible (The BP podcast and blogs are a great way) and then figure out what route you would like to take, buy and hold, flipping, wholesaling.

As a beginner, I would suggest you read the Ultimate Beginners Guide to real estate investing, which can be found here on BP for free! Then maybe read Brandon Turner's book on Rental Property Investing.

As a mentor, find someone locally and just ask to shadow them, you will probably need to provide some type of value to them.  So if there is any small task you can take off their plate to help them out, go do it for them in return for you shadowing them.  Network with local investors, go buy someones coffee or lunch.  You will find that most of us Investors are more than willing to help beginners out.

Welcome to the site!