All Forum Posts by: Carter Butler

@Keith Pinster Thanks for your response and the opportunity to clarify. My intention wasn't to say to ignore market cycles, I do think you should do as much as you can to understand what's going on in a given market. However, the sentiment that I have gotten from, and generally agree with, in listening to various BP podcasts/books, etc. is that for someone in a position such as my own or Alexander's, what is most important is getting that first deal. Obviously you want it to be successful but the true value in the first deal is the experience you gain. And I agree with you, I think the problem is in how to exploit them, if you have any tips on that I would love to hear them - however I think my understanding is that markets are difficult to time (especially for an inexperienced investor). Certainly the aim in the long run is to build wealth, but for investors like myself, the shorter term goal is just to make the leap into investing at all and if we are trying to time it perfectly we could be waiting years at the opportunity cost of gaining valuable connections and know-how. The best you can really do in timing a market cycle is put forth an educated guess in my opinion. Would love to know if you disagree!

Hey Alexander, 

Like yourself I am new to the game, however, if you haven't yet I would suggest reading David Greene's book, Long Distance Real Estate Investing. I myself live in an extremely expensive and competitive market - this book opened my eyes to the possibility of investing remotely in areas that ARE primed for continued growth and cash flow, and it counters the idea that you need to see a property in person before buying (as a result of today's technology).

As for your other questions, I will leave those to the more experienced investors but I will say that most (if not all) of the experienced investors advise against trying to time the market - whether or not the market it at its peak, what's most important is that you gain the experience. 

Hope this helps!

Carter

Hi All,

I am currently a tax accountant and CPA at a big four accounting firm in Boston, MA. In my current role I specialize in state and local corporate tax compliance. I found my way here months ago by looking for a new real estate related podcast and coming across the BiggerPockets Real Estate Podcast. That led me to all of the other podcasts/forums/blogs that BiggerPockets has to offer.

I don’t currently own any properties, I have spent the last few months learning and getting my own financial house in order so that I can begin investing. That said, although I am currently living in Boston, I am looking to invest elsewhere in the near future - either by moving out west (I have been toying with the idea of moving to Denver or Salt Lake City for the past couple of years), or by leveraging my new found confidence in investing remotely thanks to David Greene and his book.

I have become passionate about real estate and personal finance and I am serious about making this a lifestyle. Looking forward to learning/interacting with you all!

Carter