All Forum Posts by: Devan M.

Oh wow, thank you guys for the advice, I learned some new things I had no idea about. It looks like I may need more cash than I initially thought if I want to continue with a fourplex.

Hi Everyone,

I have yet to do my first real estate deal, however I really want to purchase a fourplex to get my feet wet. My plan is to get an FHA loan so that I only need to put down 3.5% and live in one of the units while I rent out the other three. However since I am a newbie there are some questions I have about this. For instance, how much cash should I have on hand at any given time for expenses that may come up from the property? Is it best to go through a real estate agent as this is my first property or acquire it through some other means such as a "for sale by owner?" How much time should I spend analyzing properties before I decide to jump in and go for it? Should I start with something smaller like a duplex since I'm such a green investor? I know that might be a lot of questions for one post, but I appreciate any and all feedback. Happy investing!

Thanks

Welcome Sticky! It looks like you've gotten a good start, be sure to check out the Renters forum and set up key words so that you'll be notified when someone posts about a topic that interests you. Best of luck!

Welcome Melissa! I'm actually moving to the Oklahoma City area soon and that is where I plan to start my real estate investing. All the best!

Welcome Bjorn! You've come to the right place to learn, there is so much good information on this site to explore that just about any and every topic you'd need to know about in the real estate investing world can be found here. Good luck in your investing!

Welcome Vinod! REI is a great thing to "accidentally" fall into, best of luck in your endeavors!

Hi Gayla, welcome! Congratulations on your real estate investing success so far. I'm a newbie moving to Oklahoma City this Summer to begin my investing career. Best of luck!

Hi Peggy, welcome! I'm new too and I plan to start investing in the Oklahoma City area this Summer. The biggest thing helping me right now are the Bigger Pockets (BP) Podcast, the BP forums, and reading everything about real estate investing I can get my hands on. Here is a great real estate book list that will hopefully help. Best of luck!

Hi Daniel, welcome! I'm in a very similar situation to you except I am graduating this May. Have you thought about buying a fourplex as your primary residence to get started? This article might help give you some guidance. Best of luck!

@J. Martin Thank you! I was wondering why when I typed @ then the name it was not tagging people, awesome tip.

@Antonio Chasten Thanks Antonio, I'll definitely become a plus or pro member in the near future. I'm really amazed at the wealth of information on BP. It seems there is almost no topic that hasn't already been discussed on here with regard to RE investing.

@Sara Cunningham That's great to hear! I'm really looking forward to it and graduation can't come fast enough. Thanks