All Forum Posts by: Richi Brown

Hello All, 

I am new to investing and real estate as a whole. I wanted to ask the question and see what strategies and tactics you all took when screening/looking for potential partners? I am a firm believer in teaming up and the mindset of "50% of a deal is better than 100% of no deal". I know to look for people you can trust, people who strengths are your weaknesses (vice versa) and someone who will help carry the load instead of putting it all on you. But is there any other key things I am missing, and how do you personally go about weeding the wrong people out from this list? Especially while meeting so many different people on a platform like BP? 

Any input is appreciated! 

Richi B 

Hello everyone,

I just wanted to thank you all for responding to my post! This is my first post and it is definitely reassuring/motivating to get so much feedback from everyone! I was expecting to post and not hear any responses at all. So thanks again for this.

@Matt Bertsch

@Matt Bertsch

Thank you for the warm welcome! I am embarrassed to admit it, Richest Man in Babylon was the second book I have finished in my adult life. It was definitely a good read though, I hope you enjoy it as much as I did. Thank you for these links, I will be putting them to use while I get use to the website! Also, I have a lot of interest in multifamily investing and potentially long distance investing too. I plan on starting with BRRRR-ing and house hacking either a duplex or larger for my first deal. I was thinking after doing the first couple then I would be comfortable enough to look into out of state. It seems like you're just the person I should be in contact with, you wouldn't mind if I picked your brain sometimes would you?

@Andrew Syrios

@Andrew Syrios

I believe I have heard that book from a recommendation on the show before, I will add it to my reading list! I will also check out the BP episode 121! Thanks for the recommendation!

@Drew Sygit

@Drew Sygit

Thanks for these recommendations! Can I find them here on BP or should I google the different meets? I also noticed you were into property management in areas that I am looking to invest in, I would love to try and meet up either at an upcoming local investor meeting or bp event!

@Justin Lane

@Justin Lane

Thank you for the book recommendation, I am going to add it to the list! I am very happy to hear about this potential opportunity, and would love to try and connect when you are in town. Are you attending a BP meet up or is this something more private? If you can message me the details and I am sure we can arrange something.

@Joe Hammel

Thank you for the book recommendation, its been added to my reading list! I see you’re an investor friendly agent, I have heard countless times to keep my eyes peeled for someone with your expertise. I would like to stay in contact with you over these next few months as I begin my first deal. Do you have much experience with multifamily real estate or primarily single family?

@Kyle Poodiack

I am also fairly new to real estate and bigger pockets. Ive started listening to the podcast back in December. But what I have gotten from the different podcasts and the different BP books Ive read is this. Real estate is not a cookie cutter industry. Meaning what works for one person is NOT going to necessarily be the answer for the next (and vice versa).

In your case, it sounds like you are house hacking, which is a great start to the real estate world and what I plan on doing. From my point of view, if you are house hacking and at the end of the month you are breaking even, then that is a win. Because instead of paying for rent, someone else is paying your rent/cost of living. This frees up money for you and if you do it right, you can reinvest it! However, you may not see it this way, and may feel if you arent making a profit of some sort then it is not worth it and that is okay. But my opinion is this: If the numbers work out and you are not making a profit on house hacking or making very little profit on a house hack. Then that is okay, because at the end of the day, youre still living for free and cutting a HUGE expense out of your budget!

Hope this helps answers your question, let me know what you think!

Richi B

Hello my BP community,

I am a newbie investor in the Metro Detroit area and I am ready to dive into my markets real estate community! I started listening to the BP Podcast back in December and its been very enlightening. In addition to the podcasts Ive been trying to read as many real estate and business books as my time has allowed. I started with the high mentioned ones on the show like: Rich Dad Poor Dad, Richest Man In Babylon, How To Invest in Real Estate by Josh and Brandon, and I just finished David Greene's BRRRR book.

My game plan was to spend the year of 2020 learning and researching real estate. Figuring out the basics, what I need to do to get a good start in the industry, learning tactics, lingo, markets etc. and purchase my first home/investment property upon the completion of my lease next January in 2021. I have gotten to the point where I am familiar with common terms and I think I have grasped the basics, now I want to get more hands on.

I am looking to connect with people I can help in anyway possible. Whether it is an extra hand to assist in handyman work, aiding in putting together/hosting a meetup in the Detroit area, a second set of eyes to run through numbers for you etc.. I am new to the industry but I want exposure and experience, and if you have anything that and feel we can help each other then please reply to this post or message me!

Also if you have any other good bits of advice, books that I should look into, etc. then I am all ears! Any information is good!

Richi B