All Forum Posts by: Noah Scott

Hey everybody,

As a complete newbie to the world of REI I find that market analysis can be one of the most intimidating steps to completing a successful deal. So many factors seemingly go into the analysis, that, at this stage of the game it can seem like a big process to start and run with.

After reading the commonly mentioned "ABCs of Real Estate Investing" I understand on a cursory level some of the things one can start to look at to develop a thorough analysis.

In an effort to make my market analysis more efficient I constantly find myself wondering, "What may I be missing?" So, I open up the question to you all: 

What tips or processes do you use when conducting a market analysis?

For any of those curious, I am looking into the Chester County, PA (namely Exton or the Brandywine Valley) and portions of the Delaware County, PA markets, which are areas in the southeastern part of Pennsylvania, a short drive outside Philadelphia.

Look forward to hearing what you all may have to say! Thanks!

@Steve Babiak Wow! Great advice on the DIG groups. The guys in the ChesCo. subgroup mentioned you and about your presence on BP after I mentioned how I posted about the meeting. Glad to put a virtual face to the name.

Thank you for the advice and I will be looking at the August 24th meeting in KoP!

@Brian Adams Thank you very much for your response!

I did not see your post until after the meeting; however, I am happy to see that I mirrored much of what you posted. My main goal at the moment is to find mentorship, provide value to whomever I am lucky enough to be a mentee under, and create a working plan for my investments.

I messaged those whom I connected with and saw as meaningful business relationships this morning.

I am grateful that you received my email and hope to be in touch soon!

P.S. - Congratulations on the recent sales and acquisitions! 

Steve Babiak I was lucky enough that Steve Seymour was still holding his August meeting. Full of great information. Was really pleased with what I heard and am glad to have gone!

Hey BP community,

Attending my first REI meet up tonight. It is the Chester County, PA subgroup for DIG (DIG Page).

I am brand new to the world of REI, have yet to invest myself, but I have plans laid out to get that going.

My main goal for the meeting is to meet others involved in REI in my area.

Is there anything I should know about these meet ups before going? Anything you wish you know/brought before going to your first meet up?

Admittedly, I am a bit nervous, being completely new to REI; however, I am excited to make some concrete steps towards furthering my journey in real estate!

Thanks,

Noah

@Caleb Heimsoth sound advice. My goal is (as I think it should be for all of us) is to invest intelligently. That could mean investing in 1 property a year, or it could mean investing in more than that depending on what the market, the deals I vet, and my finances allow.

As I mentioned, I live a decently frugal lifestyle. I also own and operate a small business which has certain amounts of overhead that are non-negotiable. I factor all of that in when coming up with my plan to invest.

Good luck Caleb! 

@Dustin Ruff You make a great point and ask some important questions. Being a newer member of BP, I find myself listening to the podcast hearing about people in their young 20s (I am 23) finding and buying some awesome deals; I often think some of the same questions.

I feel privileged that I have found BP so early on, and started my path toward REI. I have not invested yet, as I am currently educating myself and raising the capital for my first investment.

I am extremely fortunate that my college education was paid for by my parents. That allowed me to work during my school years and save up money. Additionally, should current statutes stay in place, I am able to stay under my folks' Healthcare plan until I am 26

I currently own a small independent wholesale distribution service, which I paid for with the money saved during my college years. I make a median wage, and after paying for the overhead for my business, this allows me to live a frugal lifestyle; however, I am not able to save much towards capital for my first investment.

My business partner and I run a pretty flexible and lenient schedule. In essence, we are able to make a full-time median wage working part-time hours. This allows me to search for other streams of income. I am in the process of becoming a licensed agent in PA. I hope to work in the field, raising capital and making good connections that I can use for the REI portion of my life.

I have been blessed with a good upbringing and supportive parents. But that is not all of what makes me, ME. 

It is the combination of my upbringing and my own initiative that puts me in the place I am to this day.

Jonathan Greene that seems to be the advice that I have been told most regularly and I am taking action to make sure I network as much as possible. I see that you are in New Jersey. Are you licensed in PA as well? Thank you for your advice!

@Benjamin Cooper thanks for the detailed response. Based off of the input from the forums as well as those in my life who have become licensed agents, I went ahead and purchased the Kaplan 60-hour course. I can already see what you mean by wanting more, but I also understand that the exam is more for competency and law (as you said) than what may be the more necessary knowledge once you are actually working. 

I would be interested to hear your input on the exam, being a rookie agent, and ways to make the beginning stages easier. I'll shoot you a message!

Hey, all!

Currently, I am studying to take the PA real estate license test. As I look forward to my career in real estate starting I often think about what those who are successful in the industry do to separate themselves from the pack.

If you could go back and tell yourself, as a fresh real estate agent, anything that could help speed up your success from the get go what would it be? Would you do anything differently? 

Look forward to hearing what you all have to say!