Introduction
I have been considering the world of real estate from many angles for quite a few years now. I, at one point, really wanted to be a real estate agent. I knew a couple people that were agents and it just seemed like an absolutely thrilling adventure to partake in. Then, the dreaded fall occurred and they all told me, "No no, don't do it, just wait" So i didn't and I waited. The problem with waiting, is that it has a tendency to completely put you off something after a bit.
So that "dream" went away and I moved on with life. I got married, had kids, and eventually found the job I have now, working at an insurance group as the Sales Coordinator. It's the best job I have ever had and I have no intention of ever leaving it. That being said, I am very interested in having a family business on the side.
The company I work for (National Real Estate Insurance Group) specializes in insurance for real estate investors. I have spoken to people all over the world who are making great money by buying and holding as rentals or buying and flipping houses. So i started thinking, well why can't I do that?
Sure I have no money (or skill)to be heard of but everyone starts somewhere....Right? Right??
Should I flip houses and try to do the work all myself? Rent houses and deal with that tenant from hell that everyone speaks of?
So I have my new dream now. I have a library full of books to read, an internet to search, and a forum full of brains to pick.....Oh its going to be a good life...
Comments (9)
Welcome, Erika. I think we're in similar boats: having the desire and a bunch of research to do.
The only thing I can contribute at the moment is that when you feel like you can't or that people around you will think you're crazy, just remember why you started and why they never did. It's usually lack of knowledge and fear.
Good luck!
Zachary D., almost 10 years ago
Thanks Zachary! Good luck to you too! I think the learning is incredibly exciting! The biggest issue I have is coming up with the money to invest and (for the moment) not having the support of my spouse. He is questioning if it is a good road for us to venture down. SO that means more research for me to show him statistics and deals with a complete breakdown, etc.
Erika Whitten, almost 10 years ago
I've never been to Kansas City! I have however been looking at investment properties in Detroit, Michigan. Although the city is facing more and more hardship, the suburbs have really great opportunities. In Charlotte, NC there is so much building and new areas being formed. I always tell people to invest in Charlotte. Is going to keep growing for at least 10 more years. Unfortunately, California isn't as grand as far as bargain opportunities but you can make huge commissions there.
Jasmine Brumfield, almost 10 years ago
I'm jealous! I have a sister who lives in California and I LOVE It there! Once you start investing in Detroit, hit me up. From what i can tell, it's pretty hard to find insurance for rentals and flips out there but my company does a lot of insuring over there because of it. It's definitely got a lot of issues out that way but if you protect your properties, you can have some great success!
Erika Whitten, almost 10 years ago
Erika Whitten, almost 10 years ago
I do agree. So what area do you live in and how's the market there?
Jasmine Brumfield, almost 10 years ago
I'm in Kansas City Missouri and the market is pretty good here. I think it will be a great place to begin my investing career!
Erika Whitten, almost 10 years ago
Hello! You know, I've been thinking of the same things. I first got my license in NC and I've been with Keller Williams and another local boutique firm. I enjoyed it greatly but have always wondered if I should just be an agent or do my own thing. I have huge interest in flipping but I'm a little skeptical on having tenants just yet. Now I'm positioned to take my California state exam (2 licenses on two different coasts) and I am deciding which route to go. I truly understand the decision you need to make. I'm curious to see how things work for you. I'm ready to invest...with OPM of course!;-)
Jasmine Brumfield, almost 10 years ago
Hey Jasmine! Thanks for the comment. I definitely understand your dilemma but i guess its a great thing that we have so MANY options and not too few. Life is great and we are blessed!
Erika Whitten, almost 10 years ago