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Lucia Robledo
  • New to Real Estate
  • Alabama
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New Investor looking for Guidance

Lucia Robledo
  • New to Real Estate
  • Alabama
Posted Nov 28 2022, 10:20

Greetings BP community,

My name is Lucia. I’m a beginner in real estate investing. I’ve done some learning over the past few weeks on the basics to R.E.I. I’ve gathered a good bit of knowledge on the industry with a whole lot more to go! I’m posting this to introduce myself and hopefully get some beginner advice as well as looking for someone who would be willing to mentor me. I have joined several local R.E groups on different platforms in hopes to connect with investors, agents and/or even contractors.  

I'm 23 years old. I don’t have much capital for investing. What I DO have is time, focus, flexibility and hunger. As of now my occupation is a Maintenance Supervisor in a hotel. I have worked for a multifamily property as well under maintenance. Unfortunately, I lacked the mindset and knowledge at the time of being employed for an investor at the MF property. Thankfully It's not too late to start now!

I've been looking into wholesaling as my first strategy to generate quick capital in order to fix and flip, along with other R.E Strategies. I just do not know how to go about finding sellers, or estimating repair costs. I would like to Thank you in advance for taking the time to read this post as well as offering any advice!

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Nick Riccio
  • Lender
  • Boston, MA
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Nick Riccio
  • Lender
  • Boston, MA
Replied Nov 28 2022, 10:37

Hi Lucia - congrats on getting started! I’m a buy & hold investor, and have no experience wholesaling, so take my advice with a grain of salt.

What I will say, focusing on learning & education starting out is critical. I’d make sure you are learning and consuming as much as you can. Wholesaling is not easy and likely will take you time, so definitely focus on the education while you still have time to do so. This will allow you to take action when the time is right!

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Steven Foster Wilson
  • Rental Property Investor
  • Columbus, OH
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Steven Foster Wilson
  • Rental Property Investor
  • Columbus, OH
Replied Nov 28 2022, 11:07
Quote from @Lucia Robledo:

Greetings BP community,

My name is Lucia. I’m a beginner in real estate investing. I’ve done some learning over the past few weeks on the basics to R.E.I. I’ve gathered a good bit of knowledge on the industry with a whole lot more to go! I’m posting this to introduce myself and hopefully get some beginner advice as well as looking for someone who would be willing to mentor me. I have joined several local R.E groups on different platforms in hopes to connect with investors, agents and/or even contractors.  

I'm 23 years old. I don’t have much capital for investing. What I DO have is time, focus, flexibility and hunger. As of now my occupation is a Maintenance Supervisor in a hotel. I have worked for a multifamily property as well under maintenance. Unfortunately, I lacked the mindset and knowledge at the time of being employed for an investor at the MF property. Thankfully It's not too late to start now!

I've been looking into wholesaling as my first strategy to generate quick capital in order to fix and flip, along with other R.E Strategies. I just do not know how to go about finding sellers, or estimating repair costs. I would like to Thank you in advance for taking the time to read this post as well as offering any advice!




Hello Lucia and welcome to the BP Community. I think it is important to try to find a mentor who is doing what you want to do.

I like to try to set up every month a meeting with someone I think I can learn from or who could be a potential mentor.

I always come full of questions and ready to learn. Many are specific to the individual that I am meeting with but there are some questions that I have taken from John Maxwell's book "Good Leaders Ask Great Questions."

"You may want to use them too:

1. What is the greatest lesson you have learned?
- By asking this question, I seek their wisdom.

2. What are you learning now?
- This question allows me to benefit from their passion.

3. How has failure shaped your life?
- This question gives insight into their attitude.

4. Who do you know whom I should know?
- This allows me to engage with their network.

5. What have you read that I should read?
- This question directs my personal growth.

6. What have you done that I should do?
- This helps me seek new experiences.

7. How can I add value to you?
- This shows my gratitude and desire to add value to them.

These can be a great starting point for you. You never know if someone will say yes or not until you ask. Be bold and ask people to meet up.

You could also try to attend your local REI networking groups and meetups. Connect with as many real estate mentors as you can.
You can also consult with lenders, brokers and ask them for suggestions on who might be a good real estate mentor most will be able to provide one.

Try to think of different ways you can add value to that person. What are your strengths? For example are you experienced in social media marketing? Could you offer a mentor some tips? This way its not just a one way street.
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John Mathew
  • Real Estate Agent
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John Mathew
  • Real Estate Agent
Replied Nov 28 2022, 12:27

Hello Lucia! Congratulations and welcome to the real estate industry. I've jotted some principles that hopefully would help you. 

Here are some basic principles that you need to understand in order to succeed in real estate investing:

  • Keep your mind open to new ideas. The most successful real estate investors see profit opportunities everywhere. The ability to see creative financing is critical, even more so in today's market.
  • It's important to know all of your options. By definition, real estate investing is a high-stakes game. Never make an investment that you are unsure of. It is critical to understand what you are doing in order to succeed.
  • Investing in your education will pay off in the long run. It is common for real estate investors to invest in properties that generate multiples of their initial investment. Consider your own education in this light as well. The ability to employ a strategy correctly can result in substantial returns. Naturally, if you do not utilize critical resources, you risk experiencing loss.

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River Sava#2 New Member Introductions Contributor
  • Lender
  • Charlotte, NC
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River Sava#2 New Member Introductions Contributor
  • Lender
  • Charlotte, NC
Replied Nov 28 2022, 14:43

Hi Lucia- wonderful that you are jumping into investing! Would love to hear about the areas you are considering and offer insight as I am originally from Alabama!

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Nate Sanow
Pro Member
  • I​nvestor & Agent
  • Tulsa, OK
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Nate Sanow
Pro Member
  • I​nvestor & Agent
  • Tulsa, OK
Replied Nov 28 2022, 14:49

The most underrated thing as a newbie you can do is walk a lot of property asap. Go to open houses of nicely flipped properties and go to investor opens if wholesalers put those out there. Learn via osmosis and putting yourself out there with your time and willingness to learn. It will go well for you 

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Nov 29 2022, 05:22
Quote from @Lucia Robledo:

Welcome to the BiggerPockets forums!

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

5. Study the market. You can learn to do this on your own or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR that works with investors and knows how to best help you.

6. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error. You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.

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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
Replied Nov 29 2022, 05:29

@Lucia Robledo
If you are looking for sellers to wholesale, pick up the phone and start cold calling. If you are going to wholesale though, don't do it to on-market deals. 

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Alicia Marks
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  • Fort Worth, TX
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Alicia Marks
Pro Member
  • Fort Worth, TX
Replied Nov 29 2022, 09:16

Welcome to BiggerPockets! Nathan already covered most of what you need to know to get started. Let me know how I can help you get plugged in.

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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Nov 29 2022, 21:10

Wholesaling is not a quick and easy way to make income. It takes relentless efforts and long days of getting sh*t on. Will not be a easy path if you work a job and want to do this part time. Too many people in the industry who dedicate all their time to this 

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Adam Snow
  • Real Estate Agent
  • Birmingham
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Adam Snow
  • Real Estate Agent
  • Birmingham
Replied Dec 6 2022, 08:51

Hey @Lucia Robledo I am a local real estate agent and investor in the Birmingham area. I would love to connect!

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Richard Loniewski
  • Real Estate Agent
  • New Jersey
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Richard Loniewski
  • Real Estate Agent
  • New Jersey
Replied Dec 9 2022, 19:36

I can answer these basic questions, helping you get started. I was in your shoes a few years back, message me we can set something up