I don't know if this is the correct place to be, but I am going to ask. I am new to this world of Real Estate and I am starting out as a Property Locator or PL. I am wondering if anyone out there has started out doing this or is doing it now? I am just studing right now, but I want to get my feet wet. I am wondering what is the best way to do that? Good places to look, go out in my car, websites etc. I just don't want to spin my wheels. I want to start out in the right direction and be great at what I do. Can anyone give me some direction.
I don't know if this is the correct place to be
And yes...this IS the correct place to be! Count on it.
Welcome to the forum. As for being a property finder,
I'm going to sit back and see what the others say about
it. Kind of thinkin' of becoming one myself!
Wesley is right, this is the place to be. There are several tricks to locating good properties:
1. You have to know how to run the numbers on them.
2. You have to have the buyers for them or know where to get them.
3. You have to be good at networking.
4. You have to spend quite a bit of time in the market.
5. ...and on and on and on.
This may seem overwhelming, but it's something you can do. I would take some time to buddy up with an experienced investor and ask them if you can tag along with them to help them while they are in the field. Offer to help for free. This allows you to focus on learning and not on what you are making. Pay for their lunch or find some way to make it worth their time to help you learn.
Learning from someone with experience is invaluable. You learn the market, the numbers analysis, how to network, and you get that time in the market.
Don't try to rush in and make stupid mistakes. Work hard to learn. This time will profit you more in the long haul than you could ever imagine.