Hey BP family, potential real estate side business idea.

3 Replies

Hey guys!

Im new to real estate and honestly right now dont have a single property or the money to get involed. However I want to practice real estate investing and make side income. So I had an idea of learning financial modeling, and offering to analyze deals for a small fee ($20 bucks or so).

In my services I will attempt to grab as much real data as possible, so I will call  utility companies, and look at the market data, and I will alter the analysis based on request.

So my question is this something  potential investors might be interested in?

My initial thought is your fee is way to too low.  Can you go into more description of the type documents you would be preparing and gathering for the client? 

@Thomas Clark

Love the initiative, you have the right mindset Thomas! Have you ever thought about becoming a Realtor?  Granted, it costs some money but it's a great place to start and the upsides are huge. 

Similar to what you are talking about, some Realtors get paid to provide BPA's (Broker Price Opinion) - this is a really great way to learn how to evaluate a property and would get you the experience you currently lack. 

In this business, experience and relationships are everything. It's hard to get anyone to trust you without at least one of theses factors.