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Updated 27 days ago on . Most recent reply

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Kameron Moore
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Seeking guidance as a rookie.

Kameron Moore
Posted

I'm currently looking for guidance on the next step of my real estate journey. I've been an independent contractor in Springfield, Illinois for 8 months and have been a trades contractor for the last 4 years. I have dedicated the last year to educating myself on real estate investing and development and looking to get out of the solo day-to-day labor as a tradesman. I am currently in the last steps of becoming a licensed broker in Illinois. I'm eager and willing to become as valuable as I can even if it means being an assistant to a seasoned investor or working for a brokerage for a while. I'm more familiar with the residential side of RE, being part of many remodels and home projects, but would like to have expertise in both commercial and residential. I've got little personal resources backing me up but am ready to dive into REI full go. I guess my question is, should I narrow my focus to one REI strategy or keep it broad and analyze each opportunity individually? Any advice is appreciated, thank you.

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Drew Sygit
#5 All Forums Contributor
  • Property Manager
  • Royal Oak, MI
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Drew Sygit
#5 All Forums Contributor
  • Property Manager
  • Royal Oak, MI
Replied

What usually works best is focusing on a niche and becoming an expert on it. 

THEN expand into other niches that you get exposed to the most.

This gradual expansion is more efficient than chasing after every possible opportunity and having to invest major time researching & learning - only to have the potential deal fall apart and it all be a waste of time.

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