New to BP! What Advice Can You Share?

New to BP! What Advice Can You Share?

Columbus, OH · Member since 2018 · 17 posts · 2 votes

Hello! My husband and I are new to BP. We are spending a few months trying to learn as much as possible about real estate investing before buying our first rental property this spring. So far, we've been listening to a lot of Bigger Pockets, along with a variety of other podcasts and youtube channels. We've also read several books on the topic, started familiarizing ourselves with the communities we plan to invest in, and calling to get more information on homes "for rent" and "for sale" in our area. Additionally, I have started to identify vacant properties in our area and started calculating practice deals so I can learn what metrics are important. 

What else can you recommend for us to do to learn as much as possible in the upcoming months? 

Are there any books, podcasts, videos, etc. that you found especially helpful in your investment journey? 

And, most importantly, what do you wish you knew when you started investing in real estate that you know now? 

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Dallas Texas · Member since 2018 · 26 posts · 20 votes
8y

Welcome! I would definitely use the calculators under "Tools" here on PB.

Very useful!

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  • Dallas Texas · Member since 2018 · 26 posts · 20 votes
    8y

    Welcome! I would definitely use the calculators under "Tools" here on PB.

    Very useful!

  • Rental Property Investor · Chattanooga, TN · Member since 2015 · 208 posts · 94 votes
    8y

    Welcome, Hannah! Sounds like you have a solid plan for your real estate investment journey. So glad you've already plugged into the Bigger Pockets podcast - that was a huge source of education for me when I first started.

    If you haven't already, I would recommend finding a real estate agent that you trust, and also start talking to lenders (banks, mortgage brokers, credit unions, etc.) I'm not sure what your financing strategy is for your early phases, but it will save you time and money in the long run if you're familiar with all your options now. And be sure to check with folks other than your family banker (where you carry all your accounts) - you'd be surprised how much price / term shopping can save you on each deal. 

    Best of luck to you and I look forward to following your journey!

  • Columbus, OH · Member since 2018 · 17 posts · 2 votes
    8y

    Thank you, Eric and Christina, for your replies! I really appreciate the suggestions!

  • Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    8y

    @Hannah Bowers

    Welcome to Bigger Pockets.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    8y

    @Hannah Bowers

    Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best!

  • Columbus, OH · Member since 2018 · 17 posts · 2 votes
    8y

    @Dmitriy Fomichenko Thank you so much for these helpful tips! I really appreciate it!

  • Columbus, OH · Member since 2018 · 17 posts · 2 votes
    8y

    Thank you @George Blower !

  • Realtor · WV · Member since 2018 · 454 posts · 310 votes
    8y

    Sounds like you are doing a lot of the important things to prepare yourselves. I think the Podcasts are a great way to learn, take note that many of the investors that are interviewed every week recommend a lot of the same things. This shows that it is all about a system. 

    The other important item that I would suggest is building a good team around you. Connect with Realtors, Lenders, Banks, Inspectors, Real Estate Attorneys, Title Companies, Contractors, Suppliers, etc... So you are prepared once things get rolling. Also, always have a Plan B, and C because not much goes according to plan! 

    Good Luck on your Real Estate Journey! Aaron

  • Columbus, OH · Member since 2018 · 17 posts · 2 votes
    8y

    Thank you for the advice, @Aaron Poling ! (So sorry I didn't see your comment until now!)

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