All Forum Posts by: David Gates

Welcome @Jeffrey Day, to bigger pockets. I'm new to investing and BP as well. I've been reading and studying up my target markets. I decided to start from the begging at Podcast number one and work my way up. I'm on 28 now and making notes as i go along.

I couldn't justify spending money on a mentor until I have exhausted all the free material here on bigger pockets an the books I already own.

I'm slowly but surely getting through all this material, definitely not a quick and fast way, but necessary.

I'm also been working on my investor Business Plan. I've found this exercise forces you to sit down and write our your thoughts. In addition it also forces you to take a closer look at your targeted market for investing. 

I"m in Crystal Lake, Illinois, so finding, contractors, property mangers and all that is really an eye opener and something I'd recommend. 

A big piece I've also learned is to analysis as many deals as you can. I've been doing this too. Its more difficult to get the number to work in my area, but it has been recommend to expand my search areas and criteria. 

Anyway, for what its worth, that is what I've been up to. At this point, I can't get enough of bigger pockets and spend an enormous amount of time just reading through the post and responses.

It fun and extremely useful. What part of Illinois are you in? or are you targeting, Keep in touch maybe something might come up down the line that would benefit us both.

Take care and welcome.

David

@Kenneth Garrett thanks, I appreciate the response and suggestion. I did briefly look at them the other day, but didn't see anything planned form March. Hopefully that will change. thanks again, take care

Thanks @Kenneth Garrett I've been attending the local club out here, but they all seem to be a circle of Ranatus investors. I'm not all that interested in purchasing a $20,000 training program. I'd rather purchase a buy and hold rental. So IDK, what clubs or meetups are you aware of out here besides the Epic/renatus one?

@Kenneth Garrett thanks, All the research I see mentions focus close to home, so that’s my plan for now. I’d like to put in offers, but realized I should have contractors in mind as I’m not sure I’d be able to handle even a small rehab in my own? Any suggestions on finding a contractor that works with investors?

@Mike B. I’d love to grab a cup anytime you are in Crystal Lake. By the way, I’ve been looking for local investors, but keep coming across those in Renatus. Any thoughts on that? I find it difficult to network if I’m not in the renatus circle.

@William Nelson Great advice, I wish I had someone to tell me these things years ago.

Bottom line for me, is take a break from looking at props and focus in your business plan and vision as you’ve mentioned.

I know my business plans will change, but the most important exercise was the act of writing it down as opposed to just having the plan in your head.

Not just the plan, but I also found myself researching local real estate attorneys, real estate agents, insurance agents etc. and everyone who may be involved in my business.

I’ve uncovered a ton of things in my local area, which I hope will help going forward.

Lot of great stuff.

ooops, I forgot to say I'm 16 podcast into the bigger pockets library. I started to listen to the latest one, but then figured I'd go back to the first one and progress from there. I'm on 15 now.

@John Fortunato , I'm new to Bigger Pockets too. I ran across a forum or podcast that suggested listen to at least 100 Podcast and read at least 15 books. I forget where I read or heard this but that's what I've been doing for the past few weeks.

I did have some books from my past life when I was trying to get started. Rich Dad Poor dad seems to be the default book to read for beginners. I've been taking inventory of all the physical books I have and slowing reading through them.

I also took the Bigger Pockets Ultimate Beginners Guide and started my real estate business plan. Books are great, but alone side with reading and listening, working on your business plans is really helping me a lot.

Once you start putting together your ideas, forces you to stop and think about each component. If your doing the BRRR method, then what is included in that? Who is on your team? What services will you need. Believe it or not, I had no idea how little I know about the services or environment in my own area.

Writing this down has been an excellent exercise. For what it's worth. 

As a newbie I've been following this thread. Would it be ok to add my question here or create a new tread for my situation?

So much to learn, discoursing indeed for the newbie, but so glad to have Bigger Pockets to collaborate with.