New to Innago Insight // Advice/experience needed
Category: New Member Introductions
3 replies
Original post
Hello! I'm 31 and just moved to the Newport, New Jersey area. I've been interested in real estate and buying properties since I was a teenager, my parents owned several properties and some of my mentors growing up were investors. I've been working in corporate finance for 9 years now and finally looking to finally try this out. I read David Greene's book Pillars of Wealth, got myself a BP membership, and just joined here on Innago Insight. Now i'm looking to connect with people and hear some of your experiences and stories if you're around the Newport area. I definitely need support, I want to take the risk of buying an investment property here since i've been saving for so long but I need to be able to do my due diligence and how I learn best is by learning from the experience of others around me. My primary goal right now is to get pre-approved for a decent loan and poke around my town for some properties I might be itnerested in. I'll be managing it myself probably with software; i'm pretty savvy with finances and accounting given my job. In the meantime, I'd love to hear from you if you're in NJ or if you just have any encouragement or stories to share about your experience starting out in a similar boat as me. Thanks for reading about me and hope to connect with some of you soon! Thank you!Reply by Ethan
Hi Emma,
Newport investor here (I don’t live here but have invested long-distance in the city for 7 years). I believe you’re on the right track. Here’s what I recommend to all new investors:
1. Read/Listen to as much Real Estate Investing content as you can
2. Network with as many people as you can
3. Set realistic goals (1-3 for the next few months, just to get your feet in the door somewhere).
Your goal to get pre-approved is a good first step. If you’re in walking distance of the place you’re looking at, consider house hacking - it’s the simplest way to start investing without a lot of up-front cash or committment. But if you have enough cash already like you’ve implied a small city apartment or duplex would also be good.
Feel free to message me personally about the NJ area, good contractors/lenders, etc. Lots of good folks here and we do pretty well for ourselves in Newport.
Reply by Mei
hi Emma, nice to meet you!
i’m also a newbie looking to get into real estate. i’m in nyc but otherwise we have a lot in common. happy to swap stories or just chat sometime, let me know! :))
Reply by Christina Calderon
Welcome to Innago Insight, Emma! We're glad to have you.