REI basics 101 guidance

[Travis McGray]

Hello BP community! 

I have started learning about Syndication and that's exactly the niche I want to pursue and have started buying books on that, but where my question stems is understanding REI basics. I am learning terms and meanings as quickly as I can while grasping them, but truly I don't know what I don't know yet and I want to know where seasoned investors learned their knowledge base. Was it through books that would on A to Z investing? What would be recommended?

I  am looking for just the entry level information to start understanding what I will be looking at to be able to explain it to my wife to help ease her when it comes time to start making offers. Once I grasp it myself

I know this is a pretty wide range of questions. If it helps. I'm an ultimate beginner, I have analyzed about 5 triplexes, but truthfully I don't understand exactly where the numbers are coming from for what they pull or even how they are pulling them. Where do I find current tax prices. 

As you can see I am at the beginning stages, but I'm fascinated with all of it! 

Thank you if you were able to read all of this without rolling your eyes haha I appreciate everyones time and God bless!

[Evan Polaski]

@Travis McGray, when you say pursuing syndication, do you mean as an LP or as the GP?

As for where I learned: my personal story is college, and then working in real estate companies for most of my career.  It comes from owning rentals, buying flips, investing in syndications, talking with investors (both typical accredited individuals and institutional), working for companies that provide access to leadership to learn from people who have built $300+ million net worths.

There is no short circuiting it, and I am still learning more everyday. I believe books and podcasts are about as useful as sitting through a college course. There is knowledge to gain, but regurgitating what you hear does not translate well into the real world. A better source is through in person conversations. Meetups and REIA events, industry conferences, general networking with PMs/brokers/owners, etc. This lets you get information that you might need, and ask the questions YOU have to clarify. Reading a book only gives you the information the author deems necessary, but rarely gets into the nitty gritty of how to apply that.