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Updated over 4 years ago, 03/28/2020
Just introducing myself.
Hello all, I hope everyone is well.
I'm a brand new member and just found out about Bigger Pockets recently after reading and listening to a variety of books on Real Estate and then coming across the Bigger Pockets podcast on the Pandora application. I have a paid subscription, so I've been listening to all of the podcasts starting from 1, and I'm at podcast 25 now.
My name is LaPrice (Luh-Preese) and I'm in Minneapolis, Minnesota, and I am interested in house-flipping in that market. I currently work full-time as a truck driver, and a sole provider of a family of 4. I'd like to flip houses because one of my creative outlets is in music production, and just like home restoration, it gives me the ability to create something out of what appears to not have value, and by doing so providing a service to others. I am starting from scratch, so I do not currently have any properties but I am familiar with the language. It's an honor to be part of this community and I hope to be of service to you in the future.
Hey LaPrice, Iv never to posted I here but thought I’d say hi. I live in East sub. And am like you I drive truck and am just getting started.
@LaPrice Ali Welcome to BP from another Twin Cities investor.
Welcome to the family!
I’m a St. Louis investor.... best advice I can give is to do your homework, get familiar with terms, a few strategies, then test the waters!
Also, networking is extremely important!!! Good luck!
Hello @LaPrice Ali! Welcome to the BiggerPockets community! Which real estate books did you read/enjoy?
@Eric Taylor Nice to meet you Mr. Taylor.
@Corey Hawkinson Nice to meet you Mr. Hawkinson, it is a pleasure.
@Charles Smith Thank you Mr. Smith, I wish you luck on your endeavors as well.
@Lauren Juarez Hello Mrs. Juarez, it is nice to meet you. Three books I enjoy and am re-reading are:
How to Build a Rental Property Empire by Mark Ferguson
The Employee Millionaire by H.J. Chammas
And Investing In Rental Properties For Beginners by Lisa Phillips.
The book that opened my eyes to the possibilities as a teenager, (I'm sure like many in our community)
Is Rich Dad, Poor Dad by Robert Kiyosaki
Hi @LaPrice Ali, welcome to BP!
Those are great books. Rich Dad, Poor Dad, was a game-changer for me too.
This month I'm closing on a SFH and a duplex. After that deal closes, I'll have three properties, and five units (bought a duplex three years ago. I would have never imagined it was possible three years ago when I started.
Trust the numbers, not your emotions and enjoy the hustle.
@LaPrice Ali Thank you, I hope you like the book! Rich dad Poor Dad was a break through title for me, as well as the Millionaire Next Door.
@Brandon Sok Nice to meet you Mr. Sok, I greatly appreciate your insight. I would like to get started by house-hacking myself, starting with a duplex or triplex and living in one.
@Lisa Phillips You're welcome, it's an honor. Your book allowed me to clearly see the possibilities from a relatable perspective and I thank you for the work that you do.
@LaPrice Ali, that is what my wife and I did for our first duplex! It's a great way to start. Also, I thought of another great book: The ABC's of Real Estate Investing by Ken McElroy.
Welcome to BP LaPrice! The Twin Cities is a great market for newer investors for so many reasons. Healthy economy and solid growth, yet attainable prices for newbies. Keep reading and listening, and meet with a lender ASAP!
- Adam Tafel
Hey LaPrice Ali! Welcome to BiggerPockets!
You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?
1. Subscribe to the BiggerPockets Money and Rookie Podcasts
2. Attend the FREE WEBINARS
3. Attend a Meetup in Your Area
4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy
5. Peruse the forums! Ask questions! Answer Questions!
If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!
- Craig Curelop
- [email protected]
- Podcast Guest on Show #350
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#1 New Member Introductions Contributor
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Welcome to the BP family! Good to have you here! Here are some recommendations for you:
Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users
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
Wishing you the best!
- Dmitriy Fomichenko
- (949) 228-9393
@LaPrice Ali welcome from another Twin Cities investor. You're starting out in an expensive, but still relatively accessible market, lots of opportunity for those willing to hustle. As a new person my approach would be to identify an up an coming area in path of progress (ex along NW & SW Minneapolis light rails being constructed, N Minne along river, Midtown, etc) & max out a low DP owner occupied loan, so get a value add 4 plex with an FHA, occupy the nicest unit with you fam, then self manage the rest. You could then expand into flipping or BRRRR. To to that, I'd think about getting access to loans & lines of credit. I'd suggest trying to get $ that doesn't affect your personal credit score, debt to income or debt to credit, so business lines/loans would be best. You mentioned youre a trucker, self employed?, if you own the business you could start applying for business credit, otherwise start a business now, bank though a credit union, & though that relationship you'll gain access to lines/loans. With a 4 plex & access to 80-100k for flips/BRRRR you'll be well on your way to becoming a full time investor.
Originally posted by @LaPrice Ali:
@Lauren Juarez Hello Mrs. Juarez, it is nice to meet you. Three books I enjoy and am re-reading are:
How to Build a Rental Property Empire by Mark Ferguson
The Employee Millionaire by H.J. Chammas
And Investing In Rental Properties For Beginners by Lisa Phillips.
The book that opened my eyes to the possibilities as a teenager, (I'm sure like many in our community)
Is Rich Dad, Poor Dad by Robert Kiyosaki
Good book recommendations! I'll have to check those out.
@Adam Tafel Good Afternoon Mr. Tafel, it's nice to meet you. Thank you for the information as well, I would love to hear your insight and I will respond to your message.
@Craig Curelop Thank you for this valuable information on helping me getting started. I'm looking forward to being an active member I'm this community.
@Dmitriy Fomichenko Thank you Mr. Fomichenko, it's an honor to be here and I appreciate your welcome. I look forward to hearing from you in the future.
@Noah Chappell Good afternoon, and I appreciate your welcoming into the community. Also, thank you for this valuable information as it pertains to the market in which I'm interested in, it means a lot. I look forward to possibly meeting you in the future.
@LaPrice Ali no problem, good luck!!
Welcome to BP!