#180 with Ben Sternberg: Rookie Investor Taking Massive Action, Escaping Analysis Paralysis & Doing Everything Remote
Millennial Millionaire Real Estate Podcast
English - February 22, 2021 23:21 - 51 minutes - 94.1 MB - ★★★★★ - 56 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Jonathan Farber interviews Ben Sternberg on his road from kicking off his real estate education in March 2020 to closing his first rental only eight months later. Ben is a rookie investor based in Philadelphia, Pennsylvania, who is just beginning his real estate operation. In this episode, we dig into topics like: deciding the best market to start in, escaping analysis paralysis, assembling your first deal, and more!
Top Takeaways:
Evaluating whether to buy in your home market - 10:00 - 12:30
Be realistic about whether or not you have the capital to compete in the market you live in
If the answer is no, start looking elsewhere and don’t be afraid to cast a wide net
Once you find prospective markets, find the investor groups there and get in touch
Getting yourself out of analysis paralysis - 13:30 - 14:45
You shouldn’t just ignore the numbers and jump in recklessly
The key is constructing a model for deal analyzing with everything you need and nothing you don’t
As long as you’ve set your criteria, it won’t take more than five minutes to get a yes or no
Putting together your first deal - 15:15 - 16:30
It is entirely possible to build your whole team virtually, proven through the pandemic
BiggerPockets and Facebook have already collected all the professionals you want to work with
Network with everyone you meet and ask them for what you don’t have yet
Resources:
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biggerpockets.com/users/26sternberg
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