What would be my best use of initial funds?

2 Replies

This is going to be a little long-winded, so please bear with me. 

I have made the decision to go all-in on Real Estate and I am trying to see what is the best way to set myself up for the future. 

A little background on myself for context, I am about to turn 26 and will be working primarily in and around Columbus, GA. I have a background in Accounting, but do not have my CPA or MBA. I have worked in a corporate environment with great benefits, and I have been a small business service provider. I have come to the conclusion that I never want to go back to the corporate world without my back being against the wall. Some of my strengths are risk management and finance. My biggest weaknesses in real estate are currently cold calling, and networking. 

With that in mind, where should I invest some of my resources to get me off on the right foot? 

Some sweat equity that I am currently spending my time doing: 1.) Building lists of prospective sellers to contact through Pre-Foreclosure and Absentee Owner data, as well as FSBO listings. 2.) Checking sites like Craiglist/FB for deals. 3.) Driving for Dollars and knocking on doors.

So obviously, deals are possible when doing just that if I work hard enough at it. But where should I really be investing my money? Some things I have considered: 1.)Advertising (Direct Mail and Call Fire Campaigns) 2.) Building a Website 3.)Get my Real Estate license 4.) Become a Certified or Licensed Appraiser 5.) Learn/Apprentice/Invest in a trade that is necessary in most rehab properties (carpentry, roofing, plumbing, etc.)  6.) Proper Real Estate Photography equipment 

There are obviously a ton of options that I didn't list and no right answer to this discussion so I appreciate anyone who takes the time to read and respond. Thanks in advance!

@Will Atkinson welcome to Real Estate. I know you said "set yourself up for the future" but let me ask. 

What is your overall goal you want out of investing? In other words, what is your why? 

- Dave 

David Goings

    Originally posted by @David Goings :

    @Will Atkinson welcome to Real Estate. I know you said "set yourself up for the future" but let me ask. 

    What is your overall goal you want out of investing? In other words, what is your why? 

    - Dave 

     Dave, 

    To keep it short, I am getting to work on something that I enjoy everyday when I get up. I really look forward to the hunt of finding deals that fit and I love how everyday is different. I am the type of person that constantly needs something to work on and Real Estate provides me that, as well as no earnings limit. In this case, the carrot is not the money, but I would be lying if I said that the upside of Real Estate doesn't push me to work harder. 

    - Will 

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