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23 September 2024 | 6 replies
Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.
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23 September 2024 | 3 replies
For what its worth, the "Book your stay link" didn't work for me.
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23 September 2024 | 1 reply
I'd recommend checking out BP's bookstore which includes @Dave Meyer's book Start with Strategy.
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24 September 2024 | 10 replies
I’d recommend reading a TON of books and attending meetups rather than spend $7,000-$15,000+ for a mentorship that’s not going to pay off in the long run.
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23 September 2024 | 8 replies
Hey everyone, my name is Alex, I’m a new investor in Ontario and I have learned so much watching the podcasts and reading books from bigger pockets, I love the community and how helpful everyone has been, I would love to network with some other Canadian investors and learn some more!
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18 September 2024 | 13 replies
https://www.biggerpockets.com/forums/55/topics/856373-books-...
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26 September 2024 | 32 replies
I'm going through some of the early stages of deal analysis, and listening to some of the books from the library here.
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23 September 2024 | 3 replies
However, having an organized set of books in QuickBooks will allow you to more easily answer questions outside of your day-to-day operations, like "how much will I owe in taxes this year?"
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24 September 2024 | 12 replies
BTW SMS is less effective then you'd think and has real legal trouble issues since youu are spamming with blind SMS.This is a whole book so have to cut it off here.
23 September 2024 | 10 replies
I strongly recommend doing something with getting Books in order for Tax season, this gives people 3 months to get an idea of what they can do to make it easier on them and possibly cheaper.