All Forum Posts by: Andrew Dwillis

Hello Bigger Pockets, I’m sort of new to this forum. I am looking for some advice on how to find a mentor in this industry. I understand that being able to add value to someone is really what makes a business or even a personal relationship worthwhile. That being said, what are some things that I can do that would prove that I’m a valuable asset. I’m sure you all know that getting started is typically the hardest part and fortunately there seem to be some wonderful people here who are willing to give their advice. I’m 28, I have my real estate license (on retainer). I’m currently working a day job to pay off the rest of my debt (which I’m close to finishing). After the debt is completely paid off my plan is to buy a multi family property, most likely a duplex so that I can house hack while I save money and build equity for the next property. My plan is to use the BRRRR strategy to acquire my first property. The reason I want to do that is so I can get my feet wet without taking on as much risk. Any fan of the podcast knows what I mean when I say houshacking I’m sure. At any rate I welcome any advice or criticism. Thanks for taking the time.

Thanks again everybody who commented. Some great suggestions I certainly appreciate it.

Originally posted by @Paul Winka:

@Andrew Dwillis 

To be competent in with personal finance, you need to have some mastery of doing calculations. For me, that meant learning Microsoft Excel. It has given me a big leg up on others. It can only help---time invested in learning this program won't be wasted. If you were a knight, this would be your sword. Good luck! 

 Excellent advice! I'm glad you mentioned this because I just started taking the Excel 101 class on Lynda.com. This is reassuring to know that I wont be wasting my time

Originally posted by @Jameson Sullivan:

I would continue listening to every audiobook you can that has to do with money and personal finance. Taking a class at community college probably couldn't hurt, however check out KahnAcademy first. They have great classes on accounting and business and they're free, that way when you finish the class you actually have some money to account for! Best of luck.

 Thank you so much! I just signed up for it I'll start taking the classes today!

Originally posted by @Account Closed:

There is a lot to be learnt from just one concept in Finance, time value of money. Once you get that concept in your everyday decision making it will open up a new way of thinking that will benefit you greatly. 

It's not just the mathematical side but it's the way of thinking. The philosophy. At the Coursera website there is a great set of courses on finance which covers a lot.

Also on the basics of bookkeeping btw. Be sure to check it out :) 

 Thank you very much for your insight. I am definitely confident in that area although I will always strive to get better every day. I'll be sure to check out the courses! Thanks again! 

Originally posted by @Shawn Ackerman:

@Andrew Dwillis Credit is king in this country my friend.

 Thank you for your input, I've definitely agree with you there.

I was more looking for training on how to do book keeping, and maintaining a functioning budget. something that teaches you to be able to identify where every penny of your money is either coming in or going out.

There is always the chance that I'm overthinking it but I don't think so lol. I'm just not exactly sure where to start.

Originally posted by @Jameson Sullivan:

Start by reading Rich Dad, Poor Dad.

 You know, its funny you should say that cause I literally just finished listening to that audiobook no more than an hour ago. I'm currently listening to "Guide to becoming Rich". 

I'm more of a hands on, visual learner. Should I just bite the bullet and take an accounting class or something like that?

Hey friends! I was hoping to gain some insight into the world of personal finance. I had to be honest with myself and admit that I have poor financing skills and I'm not good at accounting or numbers in general. So you can see my dilemma since I'm a new real estate agent and hope to get started in real estate investing within the next 6-8 months. Can anybody direct me to some learning material? It can be anything from books to videos or software or threads, anything that will help this new guy get started with budgeting, cashflow, record keeping...ect I don't want to just say "Oh i'm bad at finance so I'll just always be bad at it". I really want to learn and master it. Thank you all in advanced and I apologize if this question has already been answered. I am a new user.