I'm a new agent and I'm also in the process of buying my first home/multi family. I'm very fresh to the whole real estate world in practice, I'm trying to gain some experience of any kind. What should be my first step besides research and analysis?
@Cidael D McCaskill I would find an area of your market to house hack. I work with a lot of investors here in the Berwyn/Brookfield area who use this strategy effectively. I don't think there is a better way to get started to be honest. I would imagine Philadelphia has some great areas with multifamily where house hacking would work.
You should learn about actual investing in real estate which is very different than all the stuff you just learned to become an agent. Learn about all the different investment strategies, learn what an 'Off-Market Deal" is as most agents and brokers don't. Selling real estate to retail clients is very different than working with investors who are looking for investment properties for flips or buy and holds.
@DavidBookman I have been listening to a lot of the podcast and reading some books, I have been having a hard time getting hands on experience. I there anything advice on more ways I can get exposure to real life education?
@John Warren thank you for the advice, I am looking to house hack in Delaware right now, I have a small family so I need a little more space than whats available in the city. I am hoping to use this property to propel me into more investments. I want to use all the money I make from being an agent to buy and hold or flip.
I agree with what is being said. You need to educate yourself about the investor mindset because it is different that an agent mindset. Then get involved in a local meeetup where you can meet some other like minded investors who can help guide you along the way also. But always continue to educate yourself.
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