All Forum Posts by: Joe Aiola

@Dominic Cruz @John Huberty Congrats to both you guys for starting the journey! It's a normal to feel a little lost or stuck in the beginning, mainly because there is a lack of direction & knowledge. We've all been there, so the best thing you can do is continue to learn and make progress every day. Networking with other investors in your area is a great way to get started.

I'm all about jumping in, but I recommend doing it wisely. I wouldn't rush to buy something if you're only two months in. Real estate builds wealth, yes, but it can also hurt you. The last thing you want is to have a bad experience for deal number one and quit. 

Hope this helps - best of luck to you both!

@Ezekiel Stroupe Congrats man! Difficult deals make you a better investor because it will better prepare you for the next deal. Love how you needed to pivot and grind. Keep up the good work.

Best of luck moving forward!

@Matt J. First off, congrats for even getting started in real estate while you have a full time job. Four rentals is nothing to sneeze at! 

If you're looking to scale, though, I think the BRRRR strategy will be your best bet. You can use private or hard money to finance those deals since the properties will most likely be distressed, which will save the cash you have. David Greene has two books that might help you out - one is a book on BRRRR and the other is a book on Long-Distance investing. Combining the two might be what you're looking for.

Best of luck!

@Dashiel C Neimark I would recommend trying to narrow down to only two markets before contacting an agent. My reasons for that are: 

1) It takes a decent amount of time to truly learn a market and know when an opportunity arises. Looking in several markets might make you less productive. 

2) Good agents value their time. Contacting an agent when you know nothing about the market and are not even sure if you want to buy there probably won't get the agent too excited. I would try to learn as much about the market as you can first (zillow, rentometer, google maps, investors, articles, etc.). If you feel you're still interested, then reach out to an agent to learn more. Now you can go to the agent with some background knowledge of the area and the strategy you're looking to do.

This is just my opinion, though! Best of luck!

@Patrick McCarthy The first investment property always comes with some nerves. I agree with @Jeffrey Edwards 100%. Nobody truly knows what the future holds, so just make sure you are analyzing conservatively and have enough in reserves. 

It's easy to fall into analysis paralysis but remember that your first deal doesn't need to be a home run - if it gives you confidence and gets the ball rolling then that's all you can ask for.

Best of luck!

@Jameson Tanner Congrats on getting started! These are common questions for new investors - @Bryan Noth is correct that all you need to do is call a lender or two to have them review for financials (this is free). They will pre-approve you for X amount (this process will put a small, temporary ding on your credit) and the pre-approval usually lasts 90 days. You can, and should, submit the pre-approval document with your offers.

Hope this helps - best of luck!

@Jay Marco great questions! @Ellis San Jose hit the nail on the head - awesome response!

I would just add to make sure you're asking the agents a few important questions when you're looking to find one who is investor friendly. You'll want to find out if majority of their clients are investors and if they invest themselves (if so, find out what type of investing they do).

Best of luck!

@Brandon Miller Hey man! If you're only in Florida for one year, I wouldn't recommend learning that market if you plan on moving back and staying in Texas. I would use this year to learn as much as you can and to put yourself in the best financial position as you possible. Get really good at learning the market where you think you will stay/invest. As @Sean McDonnell mentioned, a house hack would be a great way for you to start when you get back. 

Best of luck and congrats on the kid!

@Zach Cohen Congrats on getting started with BP! You will definitely be able to learn a lot here, but I would use all avenues to learn when starting out (podcasts, webinars, books, networking, the forums, etc.). You will then start to figure out which ones you personally enjoy the best or feel is the most productive.

Multi-families are a hot topic and you will be able to find a ton of info. Best of luck on your journey!

@Tymalaya Thomas if you're looking to buy in Newburgh you should connect with @Sarah Hooff - she knows the Newburgh market very well!

Best of luck!