Starting out In Real Estate investing

Starting out In Real Estate investing

Member since 2019 · 11 posts · 0 votes

Hey BP

I'm Emmanuel and I'm just starting out as a real estate investor. I have been watching YouTube videos and listening to the podcast daily ever since December of last year. I have taken some action cold calling and sending out postcards while driving for dollars, but I have not made a deal. I live in a rural area in southwest Georgia and find it difficult to comp properties in order to do a deal. I want to utilize wholesaling to acquire capital that I will use to BRRRR and flip properties. I feel that I need a mentor to help guide me and give me step by step instructions on how to make a deal happen. I have been in contact with a few sellers but because of my inexperience, I lost the deal or felt that I could not help the seller like I wanted.

Example: One motivated seller that I'm currently talking with has this 2bed 1bath 1,119 sqft. I don't think I'm doing my comps right so it's hard to make her an offer If I don't know the ARV of the property. The repairs on the property would be around 23K. As you can see I need a lot of help, but If anyone has any advice I'm all ears.

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  • Lender · Philadelphia, PA · Member since 2019 · 96 posts · 124 votes
    7y

    Hey man, wouldn't mind giving you instructions on how to make a deal happen or how to comp, etc. 

    Just shoot me a message and we can set up a call or something. 

    Hopefully I can help!

  • Specialist · Carlsbad, CA · Member since 2018 · 1k+ posts · 638 votes
    7y

    @Emmanuel C Thompson Welcome to BiggerPockets!! You could post in the BP marketplace if you are looking for a mentor. Chances are you will find someone great and willing to help. 

    You should definitely start reaching out to sellers with a battle plan ready. Don't contact them if you don't know how to help them yet. This will hurt your reputation in the long run. You need to keep educating yourself on Real Estate even more. Attend your local REIA meetings. This a great learning and networking opportunity. You might even be able to find yourself a mentor at such meetings.

    Good Luck!

  • Member since 2019 · 11 posts · 0 votes
    7y

    @Ehsan Rishat thanks for the advice. 

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