Rental Property Investor · Houston, TX · Member since 2016 · 37 posts · 1 vote
Hey Everyone!
I'm a fresh newbie to looking into investing in the Houston real estate market. What is some good learning content everyone has used to get more knowledge on the Flipping and Buy and Hold strategies? Would love to get some good info so I can get up to speed.
Would also love to connect with anyone in Houston and if your in the Cypress/Tomball area even better!
Investor · Houston, TX · Member since 2019 · 87 posts · 38 votes
6y
Hey Mark, welcome to the community! If you are serious about real estate investing then don't waste your time reading fluffy, feel good material. And, stay away from gurus, especially, self-proclaimed gurus. Spend your valuable time, instead, studying about all aspects of real estate investing, like:
-BRRRR, Flipping/Holding, Wholesaling, Owner-Financing, Notes, Driving 4 Dollars, etc. Learn what they each are, how they work, and how to do it.
-Read about the different lending strategies there are and invest your time talking to different lenders to learn how different they are from each other and the different programs and rates they offer.
-Learn about lead generation and the different creative financing strategies there are to help you better close a deal with a motivated seller.
-Learn how to calculate ARV and practice using the BP calculators.
-Learn how to calculate rehab costs.
-And, while you are at it, join several local meetups, like North Houston REI and 713 Houston Area REI, and Facebook groups.
Bigger Pockets is a great resource to learn about all of this. Between the articles, podcasts, videos, and endless discussions, you will learn a lot. But, don't limit yourself to just BP. There are books, too, but you don't need to buy them. Use Google to help you understand better how thinks work and what different terms are. Everyday, you should be learning about something.
If you need to be pumped up by a bunch of feel-good success stories then you are in the wrong business, in my opinion. Real estate investing in Hard Work. Sure, you can always just buy one or two houses, but if you are someone who wants 'financial freedom' or enough passive income to live on, then you have to buckle down and work your butt off! Work it like you own a real estate business. Just sayin'!
Investor · Houston, TX · Member since 2019 · 87 posts · 38 votes
6y
Hey Mark, welcome to the community! If you are serious about real estate investing then don't waste your time reading fluffy, feel good material. And, stay away from gurus, especially, self-proclaimed gurus. Spend your valuable time, instead, studying about all aspects of real estate investing, like:
-BRRRR, Flipping/Holding, Wholesaling, Owner-Financing, Notes, Driving 4 Dollars, etc. Learn what they each are, how they work, and how to do it.
-Read about the different lending strategies there are and invest your time talking to different lenders to learn how different they are from each other and the different programs and rates they offer.
-Learn about lead generation and the different creative financing strategies there are to help you better close a deal with a motivated seller.
-Learn how to calculate ARV and practice using the BP calculators.
-Learn how to calculate rehab costs.
-And, while you are at it, join several local meetups, like North Houston REI and 713 Houston Area REI, and Facebook groups.
Bigger Pockets is a great resource to learn about all of this. Between the articles, podcasts, videos, and endless discussions, you will learn a lot. But, don't limit yourself to just BP. There are books, too, but you don't need to buy them. Use Google to help you understand better how thinks work and what different terms are. Everyday, you should be learning about something.
If you need to be pumped up by a bunch of feel-good success stories then you are in the wrong business, in my opinion. Real estate investing in Hard Work. Sure, you can always just buy one or two houses, but if you are someone who wants 'financial freedom' or enough passive income to live on, then you have to buckle down and work your butt off! Work it like you own a real estate business. Just sayin'!
Investor · Cypress, TX · Member since 2015 · 143 posts · 144 votes
6y
First of all you need to figure out what you want. You mentioned flipping and buy/hold. Need to figure out what strategy you want first and concentrate on that. Then like @Turner Wright said, just learn what you can and get familiar with the process. It's really not that hard. Don't get caught up in trying to learn everything first - you never will. You need to buy something and learn that way.
I love what @Turner Wright said, " Real estate investing in Hard Work. Sure, you can always just buy one or two houses, but if you are someone who wants 'financial freedom' or enough passive income to live on, then you have to buckle down and work your butt off!""
That's 100% truth and practical advise. If you need really freedom, you gotta fight for it meaning work hard for it. Just sitting at home and reading and checking deals online doesn't cut it. I keep telling new investors, you need first define your goal.Without a target, you cannot aim for it. Just saying financial freedom is very vague thing and many people do that. You need to define it. What do you want in 1 year, 5 year and 10 year? What is financial freedom means to you. etc.,
What's your GPA - Goal, Plan and Action ? Define it.. and start working it..
Like school education, it doesn't help to you in the real world. It will get you to the door with good job. Same thing, good real estate education tells you things but you need to get out their and try it out..