New Member from Phoenix, AZ

Hello Everyone...My name is Jarrett Williams and I am a 21 year old college student trying to break in to the world of real estate. I live in the Phoenix, AZ area where things have been hit pretty hard the last couple of years. I have been around construction all of my life so I have many great contacts but I'm hoping to find some insight into the best way to break into the business whether it be wholesaling, rehabbing, etc. Right now I'm basically looking to absorb as much advice as I can from all of you pro's out there.

Edited: 06/26/2010 at 09:53AM

Jim Wineinger

Real Estate Investor · ten mile, Tennessee

1501 posts
16138 Influence
16 Awards

Icon_minipost Sep 30 '09, 06:11 PM

welcome Jarrett. Keep reading and absorbing. The best way to break in is the way that you understand the best. Therefore read, absorb, and ask questions about your knowledge so that you can get corrected when wrong.

With thick skin and the willingness to correct what you thought you knew, you should do well.

JIM

Edited: 06/26/2010 at 09:53AM

Nick J.

SFR Investor · Scottsdale, Arizona

2806 posts
27916 Influence
21 Awards

Icon_minipost Sep 30 '09, 10:05 PM

welcome Jarrett! it's always nice having more people from the valley in the house

Edited: 06/26/2010 at 09:53AM

Matt DuSold

· Chicago, Illinois

317 posts
927 Influence
4 Awards

Icon_minipost Sep 30 '09, 11:03 PM

Welcome Jarrett! We have a pretty good amount of people on the forum from the valley. Being your age (although I dont do construction) I kind of know where your at. This forum will teach you a lot!

Edited: 06/26/2010 at 09:53AM

Rodolphe Brun

Real Estate Investor · Pittsburg, Pennsylvania

65 posts
198 Influence
2 Awards

Icon_minipost Oct 01 '09, 12:02 AM

Go get you real estate license, and start selling properties. That will put you in the real estate world, make you money and teach you a lot, also that will teach you how to find good deal for yourself.Tthere is not better way to learn real estate than practicing it.

Edited: 06/26/2010 at 09:53AM

Jarrett Williams

Real Estate Investor · Mesa, Arizona

12 posts
113 Influence
1 Award

Icon_minipost Oct 01 '09, 04:13 AM

thanks for the input and the warm welcome guys. I'm glad to hear there are other people from the valley on here, and to Rodolphe thanks for the advice. I am planning on getting my license as soon as I can.

Edited: 06/26/2010 at 09:54AM

Steve Babiak

Real Estate Investor · Audubon, Pennsylvania

3895 posts
74586 Influence
14 Awards

Icon_minipost Oct 01 '09, 05:35 AM

Welcome to the BP site, Jarrett. Since there has been much discussion on this site already regarding investing and holding a real estate agent license, I collected some of those threads here for you to peruse, and to help you decide. Enjoy the reading!

http://www.biggerpockets.com/forums/12/topics/16697-real-estate-sales-licenses-should-i-get-them-

http://www.biggerpockets.com/forums/12/topics/565-how-many-of-you-have-your-real-estate-license-

http://www.biggerpockets.com/forums/56/topics/27837-is-it-worthwhile-to-get-your-real-estate-license-

http://www.biggerpockets.com/forums/48/topics/11059-should-i-get-my-license-

http://www.biggerpockets.com/forums/48/topics/13700-getting-licensed

http://www.biggerpockets.com/forums/21/topics/35298-can-attaining-a-re-license-in-any-way-be-a-detriment-to-a-re-investor-

http://www.biggerpockets.com/forums/12/topics/38120-should-i-get-licensed-

http://www.biggerpockets.com/forums/12/topics/17147-should-i-get-a-real-estate-license-

http://www.biggerpockets.com/forums/48/topics/17306-don-t-rely-on-agents-become-one

http://www.biggerpockets.com/forums/48/topics/22071-realtor-license-

http://www.biggerpockets.com/forums/48/topics/1230-help-to-become-licensed-or-not-

Edited: 06/26/2010 at 09:54AM

Christopher W.

Residential Real Estate Agent · Orange County, California

290 posts
2780 Influence
9 Awards

Icon_minipost Oct 01 '09, 05:47 AM

That is quite a list Steve! Thanks!

Edited: 06/26/2010 at 09:54AM

Steve Babiak

Real Estate Investor · Audubon, Pennsylvania

3895 posts
74586 Influence
14 Awards

Icon_minipost Oct 01 '09, 05:57 AM

Christopher,

You're welcome!

There's no way to "connect" all of those together except for them to get collected and clickable as I've done here. I think many would benefit if that was done for a lot more of the topics that frequently arise on the forums.

Thoughts on that anybody?

Edited: 06/26/2010 at 09:54AM

Jarrett Williams

Real Estate Investor · Mesa, Arizona

12 posts
113 Influence
1 Award

Icon_minipost Oct 01 '09, 06:30 AM

Wow Steve...Thank you very much. That is extremely helpful to someone like me who is new to the site. Like you said it would be of great benefit if that was done more often. I'm already finding this community is full of people willing to help.

Edited: 06/26/2010 at 09:54AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

10630 posts
46531 Influence
24 Awards

Icon_minipost Oct 01 '09, 12:43 PM

Steve - You're a rock star! Everyone be sure to vote his post up and recognize Steve's hard work.

Edited: 06/26/2010 at 09:54AM

Joshua Dorkin, BiggerPockets, Inc.
E-Mail: webmaster@biggerpockets.com
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Be sure to check out the BiggerPockets Blog at http://www.BiggerPockets.com/renewsblog/

Nick J.

SFR Investor · Scottsdale, Arizona

2806 posts
27916 Influence
21 Awards

Icon_minipost Oct 01 '09, 12:45 PM

I already beat you to it Josh, you're just a slow poke LOL!!

Edited: 06/26/2010 at 09:54AM

Brian Haskins

Real Estate Coach · St. Louis, Missouri

421 posts
1984 Influence
2 Awards

Icon_minipost Oct 01 '09, 11:05 PM

Wholesaling is the only way to go when you get started. Its easy, doesn't cost much money and you can make a ton of money.

Brian Haskins

Edited: 06/26/2010 at 09:54AM

Ron Hollingsworth

· Phoenix, Arizona

12 posts
82 Influence
1 Award

Icon_minipost Oct 08 '09, 03:21 AM

If your an investor and an agent, I don't see the problem as long as you are not representing the seller.

EX: You are checking out the MLS and see a SFH that looks to be a good deal. You check out said home and in fact it would make a great rental and bring in very nice cash flow. The home is discounted 30% below market. The seller has an agent already so you approach the agent and tell them you are an agent as well but are interested in the home for your portfolio. You purchase the home.

I can see being an agent would give you great insite into the good deals out there right when they hit the market instead of relying on someone else.

Edited: 06/26/2010 at 09:59AM

Account Closed

26 posts
-171 Influence

Icon_minipost Oct 08 '09, 06:50 PM

Hi Ron isn't it illegal to hold two different licences both at the same time disregarding the fact of representation. I thought it is not an option. Thanks.

Edited: 06/26/2010 at 09:59AM by Account Closed

Steve Babiak

Real Estate Investor · Audubon, Pennsylvania

3895 posts
74586 Influence
14 Awards

Icon_minipost Oct 09 '09, 02:34 PM

Guys,

Thanks for the accolades and votes.

All too often, variations on the same question comes along, and the answers vary from time to time. So collecting them together gets the varied viewpoints presentable in a way that newer users will find most useful - at least that's my thinking.

And Josh, you may recall that I had something like this mentioned in a PM to you - where it would be great to have this type of collection for the most frequently asked things in each forum. Imagine Nick pulling the Sub2 topics together; Steph or Ryan doing the wholesaling topics; etc. What a wonderful world it would be. :)

Edited: 06/26/2010 at 10:00AM

Steve Babiak

Real Estate Investor · Audubon, Pennsylvania

3895 posts
74586 Influence
14 Awards

Icon_minipost Oct 09 '09, 02:37 PM

Originally posted by Jarrett Williams

thanks for the input and the warm welcome guys. I'm glad to hear there are other people from the valley on here, and to Rodolphe thanks for the advice. I am planning on getting my license as soon as I can.

Jarrett,

Has reading the topics i posted helped you to decide whether to get licensed or not? I'm curious to learn.

Edited: 06/26/2010 at 10:00AM

Nick J.

SFR Investor · Scottsdale, Arizona

2806 posts
27916 Influence
21 Awards

Icon_minipost Oct 09 '09, 03:23 PM

Originally posted by Steve Babiak

Imagine Nick pulling the Sub2 topics together

There is a lot of info here on that. I would even give away my sub2 e-book if that whole project didn't cost me $20k to do.

Edited: 06/26/2010 at 10:00AM

Jarrett Williams

Real Estate Investor · Mesa, Arizona

12 posts
113 Influence
1 Award

Icon_minipost Oct 10 '09, 02:32 AM

Steve,

The information you gathered for me has been a big help at steering me down the right path for my individual circumstance. That really is the biggest thing I have learned from reading these posts. There is no right or wrong answer to this particular question.

In my case I have decided that it would be in my best interest to learn as much as I can without actually getting licensed. My business partner is a licensed agent. I believe this will be the best of both worlds. We will be able to use the MLS for comps and other research while still being able to stay away from the potential liabilities associated with holding a real estate license.

All in all your help in gathering these threads for me saved my hours of work. Thank you many times over.

Jarrett

Edited: 06/26/2010 at 10:00AM

Jarrett Williams

Real Estate Investor · Mesa, Arizona

12 posts
113 Influence
1 Award

Icon_minipost Oct 10 '09, 02:50 AM

One more thing...

Since I have all you seasoned pro's helping me out here I figured I would ask one more question.

I would like to hear all of your opinions on what is the best way to start investing. I know that's a very broad question but I'm curious to know which strategies you have found to be most profitable.

I am naturally leaning towards fix and flips because of my numerous contacts with contractors that I know are reliable. What do you guys think?

Edited: 06/26/2010 at 10:00AM

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