How to Start Investing in Real Estate

I have seen a lot of posts on BiggerPockets saying that they are starting off and don’t know where to begin. I figured I would give the top 3 tips and resources that helped me get started in my real estate investing career:

1. Educate
   • Read “Rich Dad Poor Dad’ by Robert Kiyosaki
   • This book has been on the BiggerPockets podcast countless times for good reason. Robert Kiyosaki discusses the difference of rich and poor mindset. The biggest takeaway I had from this book is that if you say that you can’t do something, your brain accepts it. Instead of this line of thinking you should ask yourself HOW you can do it. This will allow you to keep processing and thinking of solutions to get to where you want to go. This book helped me execute on my first 2 single family properties, when I was first starting my career in real estate investing. Today it has helped me level up my investing from single family properties to multifamily properties.
   • Read BiggerPockets Forums
     • On the BiggerPockets forums, you will see infinite questions about all aspects of real estate investing. Here your strategy should be to figure out which methods of real estate investing interest you. Do you want to be active or passive? Do you want to invest in single family properties, multifamily properties, mobile home parks, notes, etc? By doing this you are educating yourself and learning from the top professionals.
   • Subscribe to Podcasts
     • Podcasts are an easy way to absorb professional advice. I know there are many podcasts out there that mention real estate. I recommend finding a couple that truly resonate with you and your goals. Be careful not to overwhelm yourself- the last thing you want to have is anxiety that you haven’t listened to everything. The top podcasts that I listen when it comes to real estate are the following:
       1. Bigger Pockets
       2. Target Market Insights
       3. Best Ever Real Estate Investing Advice
   • Read “Best Ever Apartment Syndication Book” by Joe Fairless and Theo Hicks
     • Even if you aren’t interested in multifamily investing, Joe and Theo do an amazing job on how to develop a following, how-to host a successful meetup, and the mindset it takes to become a real estate investor. Along with all this information, they provide all the steps and questions you should be thinking about as a multifamily real estate investor.
2. Network
   • Connect with People onBiggerPockets
     • Connect with the real estate professionals that you notice being active on the forums. Instead of developing a one-sided relationship where you gain all the value by asking your questions, offer to help with their business or take them to coffee. It shows that you put the homework into understanding what they are working on and how you can make their lives easier.
   • Attend Local Meetups
     • Check BiggerPockets, Meetup.com, Eventbrite.com for local events where you can network with real estate professionals. Once you are at the event, try to develop relationships with colleagues and see if there is anyway you can help with their business. You can also ask the host of the meetup if they need help with the next meetup or need help entering the sign in sheets. Always try to find a way to add value!
   • Attend Conferences
     • Conferences are such a powerful, jam-packed way to meet many people with the similar mindsets. Everyone at the conference has the same goal of seeking to learn more, but are at different stages in their investing career. Connecting with people at varying levels of experience is helpful because you have the opportunity to meet potential mentors, partners, and friends. Conversing with a variety of people can help you to understand unique perspectives about analyzing deals. Every interaction is valuable at a conference. It is an exhilarating way to get inspired, collaborate, and learn from others’ experiences.
3. Execute
   • Now that you have educated yourself and networked with like-minded professionals, it is time to develop a plan and execute! Believe in your education and trust the network you have developed. It will be very frustrating trying to get your first deal, but trust the process, and don’t feel rushed. Always remember you have support. Keep reaching out to people and you will find that many people want to help you or guide you through your first steps.

It may seem daunting to put yourself out there to so many people, especially when you don’t know the answers to everything. Focus on progressing a little bit everyday, and you will be shocked at how much you can accomplish in a short time period.

Level Up!

Mike