Top 3 Pieces of advice for Newbies - Greater Boston

[Jeendanie Lorthe]

Hi everyone! 

I'm just getting started in real estate investing and I wanted to hear what some would say are the 3 most important elements to keep in mind when you're just starting out. I'm super excited to get started and for reference, I'm debating between using the BRRR method or fix and flip strategy to start my real estate investing.

P.S. I live in Stoughton, MA region and would really love to connect with other investors in the area or South Shore region! 

[Jonathan Bombaci]

Welcome @Jeendanie Lorthe congrats on deciding to get started in real estate. Only limiting it to 3 things is tough but I’d say the 3 most important things I’d recommend to newbies are:

1. Build your team. The stronger and more they do with investors the better. The 3 key players when starting out in MA are real estate agent, lender, and attorney. If you're doing a BRRRR or Fix and flip you'll also need a good contractor.

2. Running Numbers. Get good at running your numbers and trust them to guide you. If you don’t run the numbers before seeing the house you’re wasting time. If you’re putting in offers without running your numbers you’re gambling. The BP calculators are awesome focus on learning the rental calculator inside and out before looking at the BRRRR or fix and flip.

3. Network. Your networth will be equal to your network over time. Build that network fast and furiously. Attend meetups and become active in these forums. We host monthly meetups both in person (MA and NH) and virtually. Attend as many meetups as you can and put yourself out there. 

Best of luck!

Jon