How do I go about starting?

Question

I worked alot with carpentry throughout my entire life. When I first moved to Massachusetts, it was difficult to find a friend group who knew their way around power tools,  however this summer I have made a few new friends that have benefited me greatly. One friend in particular had been crunched for time/ took on too many projects decided hired me to help finish some renovation projects on homes that are getting ready to list  or were already on the market. This has made me realize that there is no better time than now to start my career in real estate investment as there is no limits to what I can achieve. I just need to know where to start.

Jeff Darr · Answer

@Steve Vaughan, Thank you and I hope you all do hold me to it! Accountability is a good thing. I'm going to listen to the podcasts now. Thanks again!

Steve Vaughan · Answer

@Nick Cassidy and @Jeff Darr - Welcome!  Love that you're starting in 'success stories'.  We'll hold you to that lol!

The 2 most recent podcasts were directed toward inexpensive, actionable ways to get started. Here's the link to the one with Chad Carson from last week:   http://www.biggerpockets.com/renewsblog/2015/09/24...

The one @Joshua Dorkin and @Brandon Turnerjust did this week (themselves - no guest) was a list of 22-1/2 things we can do today!  http://www.biggerpockets.com/renewsblog/2015/10/01/bp-podcast-142-22-and-a-half-actionable-tips-beginner-real-estate-investors-with-josh-brandon/

Best wishes as you get started!

Jeff Darr · Answer

Hi @Nick Cassidy,

I'm exactly where you are. I have a construction background and I've seen some of the potential possible through REI. I'm also looking for that entry point into investing. I liked what @John Steele was saying about helping out in return for them teaching you. I think I'm going to try that approach as well continuing to listen to the podcasts and reading the material. I just got @Brandon Turner's book on no/low money down investing. Pretty excited to read it. Successful investing to us all!

John Steele · Answer

@Nick Cassidy I think that is a good strategy to have, especially if you are able to do a lot of the work yourself. Although, be sure to keep in mind the value of your time. Don't be afraid to hire others that may be able to get the work done in a fraction of the time if it is not your area of expertise. A good place to start might be to look into buying a personal residence that needs work. Live in the home while working on it. Once you have completed the renovations you can then refinance and start the whole process over again while renting your original home.

John Steele · Answer

Welcome to BP @Nick Cassidy and good luck getting started! Do you have any real estate background or knowledge currently? There are really many different paths you can take with investing. From your post though it sounds like you are interested in flipping. In that case, your best bet would be to dive in and learn as much as you can. BP is full of information and resources. I would also suggest networking with other real estate professionals in your area. If you find any investors that are doing what you want to do, ask if you can shadow them and help them out in exchange for them teaching you.

Mark Nolan · Answer

@Nick Cassidy

Welcome to Bigger Pockets. Make sure to check out all the informative podcasts.

Tim Puffer · Answer

@Nick Cassidy

Welcome Nick!

Read the Ultimate Beginners Guide. It gives you a great overview of REI. Also, listen to the BP podcasts. @Joshua Dorkin and @Brandon Turner do an awesome job of putting them together and making sure they are full of great content

Nick Cassidy · Answer

@John Steele I do not have much experience currently. I help a friend of mine out who owns a small real estate company here and there by doing carpentry work, but that's about it. I'm looking to buy for a flip, but keep for a long term return on investment. @Rob L. That being said I am looking to make it a passive income and over the years aquire as many complexes as I can. My goal is within 30 years to have collected my long term return on investment (appreciation) on the complexes I have owned and maintained and apply the capital towards a 200-300 luxury condominium complex construction.

Rob L. · Answer

Welcome @Nick Cassidy to Biggerpockets. This is deff the place to come to learn more about real estate.

Knowing where to start depends on what your goals are.

Have you thought about that? Are you looking for passive income? Or flips perhaps?

I recommend thinking with the end in mind. Figure out what you want to accomplish via real estate. Once you have that people on here can certainly help you to get there.

Good Luck, Rob.

How do I go about starting?

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