Quote from @Charmica Epps Harris:
Hello!
I love real estate and I am excited to join this community as a new investor. I look forward to connecting and growing my network both in and out of the Richmond, Va. area.
Welcome to BP, you'll find a lot of differing perspectives, and tons of information.
As a new investor- my advice, do not get information analysis paralysis. It's quite easy to get overwhelmed, especially when reading things on BP forums, as you will find yourself researching many different things that people mention to have an understanding of the conversation if you don't have prior knowledge in the field. Get a team, a good team, get advice from them, pool BP for what it can provide, and don't get bogged down for months/years while "getting ready."
Don't rush, but learn the process to be calculated in all your movements. Numbers first, most questions newer investors have would be asked with a sense of direction if the numbers are understood. Numbers don't lie to you, and the comps typically don't either. Depending on your strategy whether swift and fast turn around, or collecting doors over time, Numbers and Comps. Learn these, get as good as you can at them, walk Home Depot and Lowes, look at prices, do some math. Spend some time digging in, and you will reap the profits of having a great understanding quickly without getting swindled by wholesalers and contractors.
Reading books that people recommend (and there will be tons) is always a great method of learning and establishing mindset. Getting a mentor/exp investor or investor agent, can get you real world experience and support/accountability much faster than implementing knowledge from a book that you must learn to habituate- to be clear I am not saying do not do this, please do, but time has a lot of value. I've seen where people hold off for 2 weeks, then 2 months, then 2 years, then something crazy in the world happens - justifies another 2 years, and so on. Let that not be you.
That's my .02 cent, best of luck to you and yours!
Cheers!
