Visiting Properties When Starting Out?

3 Replies

This might be a no brainer, but here goes anyway.

As a beginner is it ever too early to begin visiting properties to gain some exposure and experience?  My thought is "No", but I'm curious if there might be a downside to doing so?

Do you have money to close if you find a deal? 

What we did:

Found an investor friendly contractor who taught us how to estimate rehab costs. Walked with us through several properties and pointed things out. (Offered to do so on any deal for a small fee). 

You have to know:

A)What it's worth

B)What it needs (rehab)

C) Make an offer that leaves money on the table for you. 

When starting be super conservative with your offers. Go 70% of the ARV -Repairs = Your offer. It may take longer for you to get a deal but when you do it'll be a winner.

The key is to take action but do so intelligently. You don't want to shoot yourself in the foot before you start to walk. At the same time the faster you walk the faster you get to run.

I am new as well and have found the podcast to be a load of information. Brandon (from the podcast) has said that it is never to early to learn your market and start viewing houses. I hope a more experienceed person replies but I hope this helps you until then.

@Taylor Haywood I figured as much, but it doesn't hurt to ask. Everyone is chock full of information and experience here.  Thanks!

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