All Forum Posts by: Frank Matanane

Hey BP,

Wanting to learn about investing in apartment complexes. 

What resource, book, video would your recommend to get me started on my knowledge hunt?

I've learned some great things from the various podcasts already and one thing that is pointing me in this direction is 'economies of scale'. Considering my hefty goals, investing in this space is where I need to concentrate my attention. I get some of the basics, like NOI, cap rate, Cash Flow, Cash on Cash but definitely a guide on investing in apartment complexes would be helpful.

Thanks

Great question @Jamie Wooley, I've been pondering that myself.

@Jeremy Ferguson - What would you suggest to a newbie for writing original content? I would like to start a biz page too, but obviously I'm not the expert...yet =).  What do I write about.  I guess this would be the same question for blogging too?

Thanks

Hey @Steve Chiabotti, Welcome to BP. 

If you want some more info on WA, here is a link to the BP WA Subgroup - You can connect with people up here and see what they are up to and whats happening from active and experienced investors. 

Best Wishes!

Weclome @Jordan Low.

As you can tell, this is a very welcoming group. I'm from the other side of the Sound in Port Orchard, but the meetup groups they are referring to are a great place to connect with fellow BPrs. Here is the meetup link PacificNWRealEstate - dates, times, locations. 

Best Wishes!

Weclome to BP! Lots of knowledge throughout this network.

For my fellow Noobs: One clear message I hear time and again is get out their and Network. Not just here on BP but with your local REIAs and other professionals in the industry. I am a new but starting to take action. Though I was in Customer Service and Retail for years, stepping out and talking to people outside of what I know or am comfortable with, is not easy for me. But since I have a very strong "Why", I knew I had start doing it...so i did. And man was it worth it. CAW!

Since joining BP a couple of months ago, I have found a couple of mentors 'extremely' willing to help, guide and encourage...and man are they doing that. One I met through a REIA and one I actually connected to here on BP but we were officially introduced through my REIA mentor. Small World. What I love the most is they are holding me accountable to my goals. I have also found a few agents that are willing to work with me...even knowing I'm green. One of my guys just called me up today and handed me a lead that could be winner. And my mentor is helping me to analyze that deal. How cool is that. Even had another BPer reach out to me to give me some tips on getting Lines of Credit.

Bottom Line! If you are nervous, anxious, maybe even scared out of your mind, to work this business and 'Network' like I am....Know this.

There are Amazing People out there and on BP. The good ones know they can help themselves by helping others. They can spot a good person and will know quickly if they want to associate with you. So if you are a decent guy or gal...just be yourself. You'll make the connections. Fear make anything harder than it really is.

Good Luck

@Chad Mikrut

Welcome to BP. Just getting started my self. BP is definitely filled with some great tools and resources to learn. Podcasts, webinars, and free how to guides. The best part though is the people on this group. I'm across the sound from you in Port Orchard and through BP, I've been connected to local meetups with like minded investors. Real People - Really Doing what we - Really want to do. Experienced and newbies like us. Plug into to the on-line resources for sure, they're great but definitely try to connect with the local community of investors. Check out REIAWA.com or REAPS and even a local group of BPers. 

Yep, that's my question. Criteria for my Criteria? Like many things and perhaps like many people, I tend to make things more complicated than they really are...and this may be just one of those cases. But seriously.

How do you define your investment criteria? What are the reasons you set your criteria that way?

• Examples? 
  
  • You only want to work with single family fix n flip properties with max ARVs of 200K with rehab budgets no more than 35K. why?

    or

  • You only want multifamily rentals that will generate you and income of 300/door/mo

These aren't my criteria. Just trying to figure out how one determines theirs.

All thoughts welcome...thanks!

Hi Kyle.  Welcome to BP!

I'm a newbie too that lives just up the road from you in Port Orchard. Like all have said you are in a great place to start. Definitely setup some keywords. Other's have a keyword for "washington" and anytime something related gets posted we get alerted and we see your post. But even better than that are the connections you get. As an example you just got a reply from @Kyle Parks a real estate agent who is also an investor right in your own city and he's willing to sit down and talk with you. That's my favorite part of BP. As for suggestions on where to start...this some advice I got from other members

1. Network - Get to an investment club and meet like minded people, new and experienced. @Kevin C.has a group of actual BP members that get together of a meal and drinks, share advice, stories and even strike up partnerships for deals. I was at one last month with Kevin and that stuff happened right in front of me. Awesome.

2. If your like me and want to learn start with the free BP Ultimate Beginners guide to REI. Simple to understand and a fairly quick read. I was also recommended to check out Millionaire Real Estate Investor by Gary Keller - I'm in the middle of that book and its awesome.

Hope that helps steer you a bit. Look me up if you look maybe we can be 'Accountability Partners' 

Good Luck!

Hi @Mike Garrett,

Welcome to BP. 

Allow me to preface this with some transparency. I'm a newbie so I don't have the level of expertise as some the other member who have replied. What I will share with you is a few things some of these folks have shared with me to start.

1. Figure out the 'one' strategy you want to pursue. (Wholesaling, Rehabs etc). I know you said you are done researching but from what I hear from the more experienced investors...the learning never stops. Listen to the BP Podcasts with Brian Burke: 25+yrs in the game w/500+ flips - even he is still learning things. Read the BPs free Ultimate Beginners Guide to REI or Millionaire Real Estate Investor and they really stress - pick a strategy- learn it and do it.

2. Like @Troy Fisher said. Go to a BP Member Meetup or a REI group event like REAPS. I've been to a couple myself including one that Troy talked about. I've been in a learning mode for the past couple of months and have yet to make my first deal but after going to these, I have met some people willing to help me get active and take that first step. Including potential private money lenders. You will meet newbies and experienced investors actively engaged in investing. I have yet to meet someone not open to helping me out.

Here are a couple of links for those meetups: 

• BP Meetup Group
• REAPS

Hope that helps.