All Forum Posts by: Vince Scipione

I personally do not touch equity in my own home to incorporate into my business. Mostly due to the fact my spouse and I agreed on her to have zero involvment in any sort of RE investing (and its our home) I think once you have a good 6-12 months of reserve cash (operating expenses for your own life saved as a back up incase things go bad) save enough liquidity to get the ball rolling on your first invesment. Keep it seperate imo. It would be terrible to lose the home you worked so hard for over a mistake. 

Welcome Gabriel, 

You picked a great spot to start. It sounds like you are looking to scale and get into flips! I would recommend looking for local FB investor groups, most areas have them! Get on there and find a meetup. It's important to network in order to orchestrate a team for flips. What is your experience with construction/renovations?

Welcome Drake,

You've landed in a great community of lenders, investors, agents, CPAs, Attorneys and wholesalers. This is the perfect place to learn. I would recommend spending your morning commute listening to BP podcast or BP daily podcasts for microlearning, grab a BP book that piques your interest and read a bit every night before bed. There are some hyper specific forums on here as well for everything under the sun, and tons of amazing articles. Good Luck!

Welcome Bryan! I have been a podcast listener since 2011 and a forum browser since 2020! This is a great first step into your financial future. I would start by listening to the podcasts, i especially liked the older ones! But make sure to check out the BP book store here also. There are so many to choose from. Id dedicate an hour a day to it. Podcasts on the way to and from work, and read a book right before bed, maybe even squeeze a few minutes into browsing some specific topics in the forums. Its a slow learning process if you havent been in the lending, investing or real estate world before. But if you do a bit everyday consistently you will reap the benefits of this great investment! Best of Luck!

Welcome to this amazing community. I have been a member on the forums since 2020. However I have been a podcast listener since 2011. This is platform for professionals and novice investors and you will learn a lot of valuable, hard-earned lessons in a short amount of time. I recieved my real estate license at 19 years old, and you will face difficulty in closing deals due to your age as I did. Your sphere is concerned with buying beer and cigarettes, not houses. Many clients will find it hard to trust a younger person with this big of a decision.  Its imperitive for you to not give up and get discouraged. Push through it, you may even need to have a second, consistent paying job and thats OK, until you get established. My advice is focus now on building your branding, business and client base in real estate. You need to learn how to run a business. Perhaps shadow a top producer in your office, After that stability and you have a nest egg. A team of lenders, title companies, contractors and RE attorneys, and significant knowledge of the intricacies of real estate transactions, you will be MORE than prepared to dive feet first into your first deals and will do so with CONFIDENCE. You got this!!! Welcome to BP!

It would be a great opportunity to extend out to some real estate professionals. Perhaps partnering with a real estate agent using the BP real estate agent finder tool may work out in your favor. Granted there is a cost in hiring an agent, Having someone analyze each deal with localized knowledge is worth its weight in gold. As well as utilizing them to market and sell your properties. In turn they will help you find off market deals as well. Something to consider. 

You certainly picked the right community. You have some ambitious and achievable goals. Curious why you want to focus on multi-state and not close to home? I would recommend starting in your backyard and hone your skills if its possible, I know some markets have an extreme HCOL which may make it unfavorable in your case. Welcome! 

I have never approved a tenant without meeting them, if everything looks good on paper, income, accounts, backgrounds. I would expedite the showing. Leave the less desirable ones as a backup to contact if this prospect does not work out. Hope this helps!

Welcome to this awesome community. So many intellegent and supportive individuals on here, you will get out what you put in. What kind of investments are you planning on purchasing, and what area? 

This is beautiful. No brainer to stay there if I was looking in that area.