How did you start?
We started by learning the fundamentals. We read a ton of books (list coming soon) and joining the Bigger Podcast free weekly seminars on “How to Find a Deal.” It was important to figure out how to analyze a “good” market and what factors to look for in a “good” deal.
Why Providence & Philadelphia?
First, they are both awesome cities. Second, the numbers worked— which means we were able to find “affordable” houses that cash flow. Since we are beginning, we’re buying cheaper houses so we can safely make mistakes (and learn) without risking all of our savings.
Isn’t Real Estate Investing risky?
When we first told people that we were going to invest in real estate, everyone had a story about their uncle, their neighbor, their primary school teacher that lost everything because of a bad real estate deal. And we get it. It can be scary to invest. For us, the alternate of just saving cash seemed riskier. We firmly believe that you have to spend a lot of time learning the basics on how to analyze a deal and make sure that the numbers work now. And we always always always plan for the worst case scenario.
Aren’t all landlords terrible humans?
Trust us, we’ve had our fair share of bad landlords. We lived in a brand new luxury NYC building that leaked every time it rained. Yes, there are exploitive landlords. But there are also nice landlords who are trying to make a living and want to provide safe, clean and nice housing for people. We’re trying to be the latter.