All Forum Posts by: Tim DiMario

Thanks John. I've been reading a lot of books on this subject lately. If you don't mind, what sets this one apart from the rest? What about it helped you on your investing journey?

0 Votes

Boston, Massachusetts

Quote from @Kyle Spearin:

@Tim DiMario, welcome to the community!

Just by joining BP, you're already making tremendous progress-- lot's of great ideas and people to network with. As you're getting started, it's VERY easy to read an article on one thing, then see another strategy or market and get sucked in to a never ending cycle of shining object syndrome.

Here are a few recommendations for getting started:

1. Identify your market and strategy to go with it. You'll find tons of posts on this, so I won't elaborate much.

2. Don't bet it all on your first deal. Think about how you can get your feet wet in a low risk way, while trying a strategy you become interested in. For example, if you're interested in flipping, you might try buying a fixer-upper as your primary residence and trying to renovate in a timely manner. This would protect you from downside, while offering potential upside.

3. Make connections with people by participating on the BP forums, going to meetups (@Andrew Freed has a great one in Worcester and I run one in Boston). This will help you start building your team, learn a lot, and refine your criteria.

Good luck and don't hesitate to reach out!

Kyle thank you so much for this advice. It's funny you mention 'shiny object syndrome'. Since I have begun researching (kind of obsessively) all my social media feeds have been filled with these things you are describing (paper flips, slow flips, subtos, etc). Now I have a name for it. As a beginner it's difficult to identify the difference between a spam and a legit investment strategy. The books suggested here have been helpful. I think like you said my next step is to choose one strategy and zero in on it then find a market where it will work. Luckily I already have the capital. I just need the what and the where and the technical know how to execute.

2 Votes

Boston, Massachusetts

Quote from @Nicholas L.:

@Tim DiMario

got it. like i said, house hacking is not for everyone.

i'll give my 2 cents. i genuinely think it's a very tough time to get started in real estate. and I DON'T think that you automatically have 'analysis paralysis' if you spend some time getting yourself into a stronger financial position, researching, or both. buying a bad deal just to 'have a door' is a huge waste of time and money.

to echo what @Jonathan Greene said, I'd go to the local meetups and just start networking, learning, and asking questions.

Glad to hear that. The market where I am now is absolutely nuts but I know if I learn enough and am willing to look into other markets I can find a good first deal. I also know enough about myself that it would be hard to rebound for me if my first deal was a bad one. So I am taking my time to make sure I know the process and it seems like these meetups is a great place to start. Thanks!

0 Votes

Boston, Massachusetts

Quote from @River Sava:

Welcome Tim!

@Daniel McDonald has great meetups. Happy to conenct with you too as I grew up on the Northshore.

Awesome thank you! Im a South Shore guy and the market here is nuts right now. Ill add Daniel to my contacts. I see he has replied below so I think I can take it from here. Thanks River!

0 Votes

Boston, Massachusetts

Quote from @Jeffrey McKee:

Hello Tim! Welcome to BP! It's great to have you here. You're in the right place to start your journey, there's a wealth of knowledge and a fantastic community ready to help. Best of luck on your path to your first property!

Thank you very much Jeffrey. I can already tell I am in the right place.

0 Votes

Boston, Massachusetts

Quote from @Nicholas L.:

@Tim DiMario

start with a house hack if you can. not everyone can given family / lifestyle. but if you can, you should.

random example - i don't know this guy but just saw this post. and it's in Boston.

https://www.biggerpockets.com/forums/12/topics/1196952-i-jus...

That is one if the first strategies I looked into and saw it's potential but I have a wife and 2 kids so not really an option for me. I wish it was though since I worry about finding lenders with a mortgage already over my head.

0 Votes

Boston, Massachusetts

Quote from @John Mason:

@Tim DiMario make sure you accelerate your RE knowledge and be pro active

Read the Millionnaire Real Estate Investor and also the One thing By Gary Keller

Been all over this one. I know I have risk aversion so knowledge is one key to that obstacle. Have six lined up at the moment but I'll add these to my list. Thank you!

0 Votes

Boston, Massachusetts

Quote from @John Mason:

@Tim DiMario Try Facebook groups real estate in your area too

Hadn't thought of that. Thanks for that tip!

1 Vote

Boston, Massachusetts

Quote from @Jonathan Greene:

Welcome. Get out to meetups in your area and meet some other investors. It will be a jet pack to books and podcasts. If you go toward Worcester, @Andrew Freed has some great meetups where you can learn a lot and make great connections.

Nice to meet you and thanks for the tip. I know networking is a skill I'll need to Mmaster. Always been social and gregarious but never from a financially strategies standpoint. I'll reach out to Andrew for sure.

1 Vote

Boston, Massachusetts

Hey All,

Brand new to BiggerPockets as of today. Just started the research phase and learn everything I can about this process before I make my first purchase. Have no idea how long it will take to get to my first property but looking forward to learning the process and getting to know the like minded folks on this forum.

Hope to speak to you all at some point in the future.

5 Votes

Boston, Massachusetts

All Forum Posts by: Tim DiMario

Tim DiMario has started 1 posts and replied 10 times.

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase

Post: Brand New - In the Research Phase