All Forum Posts by: Ty Ash

Hi @DeVon Williams!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking in your area.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business. Like @Michael Dumler, said you should have some capital to get started and this book walks through a framework for that.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!

Hi John! I'm hoping to do this every few months but otherwise we do a monthly Happy Hour in Wauwatosa. Definitely come on out and engage with the group! Here's the post for this month:

https://www.biggerpockets.com/...

Make sure to set up your key words in settings to notify you when anyone posts about Milwaukee.

Thanks!

Come join us for an informal gathering to meet other current and future real estate investors.

No matter which Real Estate strategy you use, we'd love to see you out to get to know you! All are welcome.

No agenda, no topic, just come hang out with some people from the real estate investing community here in the Milwaukee area!

Location: Good City Brewing Company, Wauwatosa (Bar Tables near Main Entrance)

Time: 5:30-7:30 PM CST

SEE YOU THERE!

Thank you to everyone who was able to attend and make our first Milwaukee Real Estate Mastermind a success!

Here's the link to recording on YouTube:

Keep your eyes out for the next meetup and mastermind! Thanks!

Hi @Romario Nicholas!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started (as low as 3.5% with FHA). Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!

Excited to see everyone in person and online tomorrow!

For those in person, please try to arrive by 6:45 at the SW door of the expansive building as they will be locked (my phone number is in my signature if you need help).

For those online, please try joining via the google link here in the event details.

And last, a reminder of the agenda!
-Arrive 15 min early to grab a beverage for anyone in person
-Investor Introductions, 3 min / person (online and in person): Name, Location, Strategy, Needs, How you can help other investors
-Milwaukee Market Update (duplex and multi-family focus)
-Question & Answer, Open Forum

Hi @Spirit Robinson!

Agree with what's on this feed already but here are a couple other things:

1) Listen to agent coaching podcasts (just google or search in podcasts and your bound to find several free options) to start learning about basics, scripts, lead generation, nurturing clients, and marketing.

2) You have to start sharing your goals with people in your area. One of your biggest hurdles will be building our your CRM of buyers and gain their trust and confidence as a younger agent. Many choose to work as an admin or agent assistant as soon as possible to learn the ropes.

Best of luck and be prepared to work for several years to build a business with staying power!

Hi @Justin Mabry!

Sounds like you need to surround yourself with a good team/mentors so that you can ask more questions!

People at meetups and investor friendly agents and loan brokers can help you through this. Also, it might help to pick a niche/strategy so that those mentors and team member can help you focus on the need to know things as opposed to everything.

Good luck and here for any questions along the way!

Hi @Dominick Johnson!

For me, I followed the runway concept from Scott Trench's book set for life. I had enough saved up for personal expenses and business expenses for several months before jumping into my business full time. I also spent 2 years building it up as a side hustle so I had some predictability on what full time self employment would look like. This was a asymmetric bet on myself being able to make per hour than my salaried job.

If you haven't picked up that book yet, I highly recommend it!

Hi @David Marino!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking. As for understanding your local market (sounds like yours might have low inventory if you're not seeing price corrections), a real estate agent should be able to provide you monthly stats like sold listings, active listings, days on market, median sales price, etc. Typically you can find an agent in whatever market you're in that is doing a youtube market update as well.

While you're still determining your next job and location, I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As you already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!