Calling all PRO's.... insight for the rookie please... take two

[Doug Smith]

Hello BP,

First a little back story as I feel there are many out here just like me.

Around mid-December this past year I read Rich Dad Poor Dad and my wheels start turning. Followed that book up with The Richest Man in Babylon by George S. Clayson (fantastic book, highly recommend everyone reading it). After reading that book my life changed, I started saving more money than I thought possible while simultaneously lowering my debt. I told myself I would save for a year and when that time was up, I would know how I wanted to invest and make that money grow.

Over the course of the last three months... It did not take a year for me to figure out Real Estate is how I want to invest. I found BP, attended four or five webinars, listened to probably 40 Podcast from BP, Real Estate Rookies, and BP Business to date. I have continued to read and listen to great books. The 10X Rule, Cash flow Quadrant, Art of the Deal, Think and Grow Rich, Real Estate Investing Blueprint, The book on Rental Properties, The One Thing, The Millionaire Mind, and currently on Building Wealth One House at a Time. I went PRO on BP so I could analyze more deals (trying to do at least one day while working), registered to attend some meet ups (Corona is kind of killing that right now), and lastly I have now started to reach out to reach out to others knowing that is going to be the biggest challenge for me because I am an introvert haha.

Today... Not counting my vehicles and mortgage on my home I have cut my debt by over 50%, saved about $2,500, and I am living well below my means in order to continue this trend. As I continue to educate myself and try to learn my market, I cannot help but not want to wait a year to make the big step on this journey (purchasing my first fix and flip or BRRRR.

What advice, tips, or tricks from practical experience do the PRO's have for folks like me to get started now or should we just suck it up and stick to the grind of saving until we have the capital needed? If there is anyone in my area that I could in some way add value to and be able to learn from I would love to connect with you. Thank you for reading all the way through this lengthy post and I truly appreciate any and all insight!

Doug

[Matthew Irish-Jones]

@Doug Smith make a safe first investment. Stay away from large rehabs and C class neighborhoods. There is money to be made in both of those categories but they are more difficult without experience.