All Forum Posts by: Avery Dillman

Quote from @Avery Dillman:

Hello! I have always been very interested in investing in rental properties. Ever since I was little. I've had numerous family members who became very successful in it and I would like to follow. (All of which are sadly gone now). But I have read many books and watched tons of videos but I guess I find myself lost on where to start. I've been working a min wage job for last 5 years and have nothing to really show for it. I just seem to get discouraged by the big prices of houses here in Florida. Even the run down places. Any suggestions would be greatly suggested. Or even book recommendations or courses as well! Thank you!

Hey Avery, welcome to Bigger Pockets! 

I would highly recommend that you consider investing in Columbus, Ohio because it has affordable market in the east coast with thriving economy and home. I would actually consider investing with bare minimum of 1% rule and has a relatively low home prices compared to other states in the US which makes it an attractive destination for investors who gets a good return on their investment. Columbus, Ohio also offers attractive tax incentives and a strong rental market.

If you have questions about this I am always happy to help. 

Quote from @Avery Dillman:

Hello! I have always been very interested in investing in rental properties. Ever since I was little. I've had numerous family members who became very successful in it and I would like to follow. (All of which are sadly gone now). But I have read many books and watched tons of videos but I guess I find myself lost on where to start. I've been working a min wage job for last 5 years and have nothing to really show for it. I just seem to get discouraged by the big prices of houses here in Florida. Even the run down places. Any suggestions would be greatly suggested. Or even book recommendations or courses as well! Thank you!

Hi Avery.
My biggest and best advice is connect with an experienced investment specialized real estate agent that does a lot of business, and ask them for advice and support. If they are really great at what they do- they can be your expert and protector and lead you to success. Once you own 1-3 strong cash flow properties, find another expert in another area and repeat. The agent should have a great lender recommendation, as well as contractors, photographers, a property manager, etc.

Beyond getting a better paying job, you can also see if there are creative ways to start cutting your current costs or earn side money so you can build your down payment faster. Do you live in a place currently that you can rent a room out or something similar? No reason you need to own a home to start house hacking. Get a roommate. If you have a car, can you rent that out part time or use it for gig work in your free time? Do you have an eye for or talent for fixing things up? Some of the BP podcast hosts mentioned recently how they started by flipping items like furniture when they were starting out to build capital for their first deal. There are many ways to boost your income which will help get you to your goal faster.

Best of luck with it. You can make it happen if you really want it!

I would recommend pursuing a career in real estate. See if you can find work, be it for a brokerage, property management company, etc. This way you secure both income and knowledge/experience in real estate. When a good deal comes up, you will have resources (money, contacts, potential partners) to make it happen.