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Forums » Starting Out » Help on Starting REI compnay

Help on Starting REI compnay Subscribe to Help on Starting REI compnay

5 posts by 4 users

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Real Estate Investor


I have been trying to get my hands in the cookie jar for real estate that i can afford. I've even tried trying to get my hands on a small businesses that can bring in residual income to put towards invest along with my own income. What can a new young buyer do to get in the game. There are so many things out there 100% percent financing, angel investors, etc. Any information from the wealth of experience on this site will greatly point me in the right direction. i.e. with 5k or 10 or even 25k, what would you do to get your hands in the game? Where would anybody even start?


Real Estate Investor · Dallas, Texas


Well the true answer lies within yourself but only after you do your own due diligence in the different types of investing you could do in this business. The reason I say the answer lies within yourself is because what suit one person with their personality and what they like to do would not suit another.

One person might like the idea of being a landlord (buy and hold) while another person doesn't want to deal with tentants and would rather find properties and wholesale to another investor.

Maybe you would like to buy a property rehab it and sell it back to an end user (rehabs).

What are you good at?
What do you like?
How much money do you have?
How fast would like your money back in the bank?

Lots of questions you might want to find the answers to before you get started so for now just keep reading the forums here and posting questions until you understand what others are doing.


Real Estate Investor · Atlanta, Georgia


First, as the poster above said, you need to figure out what you want to do in the real estate business. Read, read, read, read, and then read some more...

Once you figure out what you want to do, put together a business plan. it doesn't have to be elaborate...it could just be a page or two. But lay out your business model, your strategy, you purchase criteria, etc. This will give you a framework by which to execute on your goals.

Then, if your investing is going to require financing, figure that out. Meet with small, local banks, talk to other investors who may be looking to invest/partner, talk to hard money lenders, talk to friends and family who might have cash to invest, etc.

After that, start building the rest of your team: agents, brokers, title companies, contractors, etc. If you are going to need investor buyers (e.g. you plan to wholesale), start building your buyer list.

Then start looking at properties. Spend a couple weeks looking at literally hundreds of properties until you get an idea of the types of houses in your area, the condition, the prices, how quickly things are selling, etc.

Then start making offers!


Real Estate Investor


I do know i want to start small. Starting with rental properties and working my way up to apartment complexes, hotels, etc. So i have an idea its just starting with low income seems to be the issue.


Commercial Real Estate Broker · Indiana


Mark-

Like you said, there is a wealth of experience here on BP, and a wealth of knowledge. This is a great tool to have just starting out (we didn't even have computers when I started). Read the posts and ask questions.

As mentioned before, find your niche. The resources you have- money, time, knowledge of construction trades, relationships- should guide you where you should go.


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