How to start REI (general) while working full-time?

Question

So how did you guys do it? How do you start investing into Real Estate while being employed full time? What type of investing did you start in?

Mat Lewczenko · Answer

I happen to be working through the same situation, working full time and trying to get to the point when I can break away and give my full attention to my business.

I think you are on the right track and no one way is "right". What may help you decide what to do is start with the end in mind and work backwards to flesh out your action plan.

If you want to be a landlord, flipper, PM, or wholesaler you can then work backwards to see what you need to accomplish and then time block your days to get to your goal.

Dave Charron · Answer

You can do most of the research to find properties in the evenings and as long as your able to make a few phone calls here and there during the day you will do fine.

One problem you may have during the winter months is looking at homes during daylight hours depending on when you get out of work.  Then again theres always weekends, but you dont always want to wait until the weekend to jump on a good deal as it may be gone by then.

Mark Forest · Answer

How do those of you who are full time real estate investors obtain health insurance?

Silver A. · Answer

Alex, what are your goals?

First of all, get to know the area you will be investing in and prices there so you will know when you will find a truly good deal.

Rentals are the easiest for starters and require very little of your time. Very little if you will hire someone else to manage it. The cashflow will be minimal at first too, but it's deifinitely a start.

Finding a property to flip and flipping it requires a lot more of your time and money. But I would say this is where most of the education and profit (in the short term) is.

I found "A Rehabber's Tale" to be a very good read on rehabbing.

http://store.biggerpockets.com/books/rehabbing/a-rehabbers-tale.html

David Kay · Answer

William Ware, can you elaborate on how you aquired so many properties in such a short period of time?  Are you using leverage?

Paul B. · Answer

Alex, when you are back in Maryland, please look up John Peterson in Rockville. He runs the Washington REIA and is an honorable, stand-up guy. He's also got something like 600+ deals under his belt.

Alex Rector · Answer

So would it benefit me to locate REI clubs online in my potential area, then proceed to find out which members have websites/blogs and build a rapport with them for future investments?

How about mentors, are there any good reliable mentors in the Maryland/Virginia neighborhood?

Alex Rector · Answer

@ Jeffrey - I want to be an investor with a real estate license. The real estate license is beneficial and brings a lot of items to the table.

@ Max - So buy and hold? working after work will be the key. I can do searches, and all other necessary work while at my daytime job that is needed/required on line. Swing by after work / during lunch to look at the properties.

@ Dave - I agree daytime in the winter months could be a problem, but I would hope after semi-annual investing that I would have a team competent enough to help while I'm not present.

@ William - How did you go about building your team? What resources did you use to find and negotiate terms? What did you immediately invest into - rehabs?

@ WheelHouse - I would prefer those 'old' stable rehabs than splashing paint on new ones' any day. I can let my creativity flourish through the rehabs.

Jeffrey K. · Answer

I was confused.  Do you want to be a realtor on the side?  Do you want to be an investor and just want to get a license?  Do you want to own a PM company on the side?

Alex Rector · Answer

I know that I am self-motivated. I just need a game plan on what to do literally.

I know that you ( I ) need a decent amount of education or the decisions that you make will end up hurting you in the end. Concerning this education, apart from reading here on BP, what other information would you guys suggest?

Books, Podcast, Seminars, YouTube channels, etc.

I'm currently stationed in Germany (Army) and will be hopefully in Maryland in a year's timeframe. I want to build my knowledge of this society so that when I get back I can hit the street running after I obtain my real estate license.

Thoughts?

How to start REI (general) while working full-time?

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