Hi I am just starting out wanting to invest in real estate. I am a homeowner so I get the concept of buying and selling a house, but I could use some pro pointers on do's and don'ts, what you wish you knew when you started, and abut how to get started. All tips are welcome! Thanks!
Investor · Abbotsford, British Columbia · Member since 2016 · 28 posts · 19 votes
6y
What market are you looking at? I would make sure property cash flows. First thing is talk to your bank and line up your money, at the same time get a realtor and tell them what kind of property’s your looking for. The more people who are messaging you with potential properties the more likely you are to follow thru buying one. You will learn a lot on your first property and get more confident from there
Investor and RE Mentor · Miami, FL · Member since 2010 · 560 posts · 219 votes
6y
@Kody Ward Welcome! You are in the right place at BiggerPockets! :) My suggestion is to gather information first as much as possible about real estate investing, as far as the different strategies (the main ones are wholesaling, fix and flip, and buy and hold.) Then to expedite your learning curve, find someone who is achieving the results you are looking for in real estate and copy what they do.
@Laura Alamery thank you for the advice. When it comes to gathering information and learning, I have read 5 or 6 books on investing in real estate and have listened to podcasts and watched multiple YouTube videos explaining the process but do you recommend any certain books or articles that have really helped you?
Investor · Boulder, CO · Member since 2016 · 1k+ posts · 1k+ votes
6y
@Kody Ward Welcome! It sounds like you have knowledge... what you need is a PLAN of attack. What is your desired investment strategy? That will give context on what plan is right for you.
@Whitney Hutten well starting out I think I want to go with the wholesaling path, and then once I gain a little more experience and capital move on to fix and flip or BRRRR. But I'm still researching to see which are my best options just starting out without much capital.
Investor · Abbotsford, British Columbia · Member since 2016 · 28 posts · 19 votes
6y
What market are you looking at? I would make sure property cash flows. First thing is talk to your bank and line up your money, at the same time get a realtor and tell them what kind of property’s your looking for. The more people who are messaging you with potential properties the more likely you are to follow thru buying one. You will learn a lot on your first property and get more confident from there