All Forum Posts by: Nef Ojeda

@Eliott Elias: I totally agree - If a property is a good deal today, today is the day to take advantage of it. I'm currently focusing on learning on how analyze a property to know if that particular property is worth the investment or not.

Much appreciate the replies. They are not taken for granted. Enjoy your the rest of your week. 

Thank you all for your posts. I have read all of them and replied accordingly to most.

@Nathan Murith: Much appreciate the warm welcome. I became a member in 2020 but life kindly asked me to focus on other faucets of my life. :) Now, I am back and more focused. I will look into One Rental at a Time. Seems like a solid option.

@Eliott Elias: I have come across a few of Grant Cardone's videos. Didn't know he had a book. From my very limited research it seems he focuses a lot on using peoples money for investing in large cap projects. Maybe that is what his focus is now. I'll check that one out. 

@Kenneth Garrett: Funny you mentioned these two - I completed my studies on RDPD and now I am almost done with CF Q. these definitely shifted my mindset. And, I needed that. 

@Joe Villeneuve: I truly didn't give too much attention to these subjects in my youth. I wish I had though. 

@Nathan Gesner: I will research your recommendation. 

@Nate Sanow: Some cliche's are worth it! RDPD all done, and almost done with CFQ. What a mindset shift these books have allowed me. 

@eric geakos: Never heard of Reacher but now I have. Will do some searching. 

@Aj Parikh: Never heard of these, will look them up.

@Michael Brattelli: I have this book on my list. Im excited to get to it. 

@Mike Dymski: My research does support this recommendation. I am currently learning how to analyze properties now and simultaneously learning from subject matter experts. 

@Christian Ehlers: a solid plan. Got the first part done. 

Hey Katherine, I truly appreciate your reply and your insight and recommendations.

There is so much to consider in this REI world. So many "experts" pitch REI is not truly difficult and anyone "can" do it. I believe this to be true in the general sense of the word but If I learned anything there is always more to the story. As optimistic as I am I know I must take a cautiously analytical approach. So, I am reading, learning and networking my way to building a strong foundation that will be instrumental in allowing my wife and I success. More over, I can't shake off my inner dialog saying things like: We can make it but so many are out there trying or already successful maybe we are too late?" or "Will I have learned enough to make the right decision when the times comes to get the first property?" or (my favorite) "is all this really worth it - will I actually be successful?". I know these thoughts are normal, this venture isn't something I'm used to. Naturally the brain is telling me not to do it, it will be hard work, it does not fit in our current life pattern. But, I am on a different path now and I don't see life the same anymore and financial freedom is on the forefront. As RK states ... the biggest challenge in moving from the left side of the quadrant to the right is ones mindset.

I hope this reply back isn't too exhaustive, I figured you put time and effort - so will I.

Again, thank you for your post. 

:Nef:

Hey BP Members, 

If you would start as a newbie today, which book would you consider reading first?

It can be either books from the BP bookstore or any other book you feel would have a huge impact today in building a strong foundation that will prepare one for REI.

:Nef:

Hey BP members, 

My wife and I are diving into this world of Real Estate investing (single/multi-fam or house hack) and we are studying and cramming as much information as we can and naturally we have a few questions. For some context - we are within 3 to 6 months of crossing over to the right side of the quadrant.  

A few of our questions below:

(1) How saturated is the market with what we perceive are many pursuing the same goal of REI?

(2) Let's say our first crack at this REI works really well and we want to continue growing our portfolio, (which is our intention) will it be more difficult during these turbulent financial times for a newbie to build a strong and steady portfolio in comparison to past economical downturns?

(3) When does one need to consider having an LLC?

The questions above are coming from a perspective of individuals who are not investors yet are on that path. So if the questions above are a tad unclear or misplaced we will accept all constructive corrections and opinions or a better redirection of what we were trying to ask.  

Thanks for your time and any support and expertise you can give.
:Nef:

@Sean Sloop: Makes sense to me. And, it never hurts to ask!  

@Marcus Auerbach: These are very good tips and simple. I will use them.

@Steve Morris: I will definitely narrow down my end goal to a specific type of property and have hard cash and/or financing plans squared away before first contact. 

@Eudith Vacio: I do have a good idea of the property and area in mind. As of today, I am missing the hard cash and financing. But, working on it. I think it would be beneficial to have a chat early on (even so far out) to help better prepare me for variables I may not even considered. But, this will require an Agent who is willing to be ok with just having a conversation knowing my timeline - my goal is to respect the agents time as best I can yet, obtain valuable information that will better prepare me for when the time comes. 

@Tony Angelos: Exactly the conversation I want to have. From all the reading I am doing it all comes down to understanding as much of the process as you can. Hence, me utilizing this forum and being a proactive new member.  

@Steve Rozenberg: This method will really be helpful filtering out agents that may not be a good fit for me. Great point there. 

I appreciate every response. Thanks for your time and advice. I will continue my journey educating myself and making small moves that ultimately support my end goal. 

Much appreciate the clarity @Aaron K. & @Antonio Cucciniello. These responses are super helpful. 

In my research I have found that it is best to build a relationship and use a RE agent on your first property. Yet, it isn't clear to me as to when is the best time to start building the relationship [when you aren't exactly ready to buy] without wasting the RE agents time? (1 year out, 6 months out, 3 months out ... etc)

Thanks in advance for any and all responces.

:Nef: