Starting from scratch

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Starting from scratch

George Argyris
Murrieta, CA · Member since 2013 · 4 posts · 0 votes

Been going through the Ultimate Beginner's guide and am almost finished!

Thanks for putting that together, btw. I can always appreciate altruistic contributions for the new crowd.

And although it has given me some good ideas, what seems to be hard about using a forum, is that I keep getting lead down rabbit trails of different advise and strategies. Information overload seems to be my problem.

I guess that's what makes some gurus packages so attractive (specifically Sean Terry's Fip2Freedom Academy) because it seems more step-by-step and comprehensive than a forum. However, after reading through the forums and blogs, I know you guys (and gals) don't highly recommend paying for any service, but then that leads me to sifting through what is valuable, applicable, and action oriented.

Just a little about myself:

My name is George Argyris. I am currently residing in Murrieta, CA, and I am taking the next step to becoming a professional REI. I am 26 years old, graduated from San Diego State University, and am currently a Manager at the local Chick-fil-a here.

I have my Series 7 and 66 licenses (I had a short training stint with Edward Jones, only to quit the company because I wasn't comfortable with cold-calling, knocking on doors, and hard selling...) and I still have a strong passion for the markets. Nothing would be more exciting than getting into real estate and building long term wealth, as well as doing this full-time.

One thing that is handcuffing me, is my lack of capital to trade with (I have about 6000 dollars to invest, but properties here in California can be quite expensive). I can see why wholesaling is attractive for this reason, but I'm open to other methods and it would be nice to speak to someone who is/was in my shoes in the SoCal market. I have been looking for education programs, which lead me to this site on BiggerPockets.

I have a strong financial acumen, but I am brand spanking new to real estate. I don't come to you with confidence because I think I know everything...I definitely don't. But what I do bring is a self-awareness that I do have a lot to learn, and my tireless work ethic and willingness to lose sleep to balance various responsibilities is what I bring to the table. I am a sponge and I'm looking to soak up the training nectar dripping from the minds of those who know way more than I do. Haha

I'm just looking for some guidance in order to focus my efforts in the right direction. I have been reading a few books on the subject, but I have yet to find anything comprehensive. I know there are some valuable insights on this forum, but again, so much information, I don't know how to sift through it.

I have no doubt that I can eventually become a profitable investor. I put myself through college with no scholarship, grants, or parents' money, and graduated with ZERO debt while working full time and commuting an hour to school. I will work hard, I will reach my potential.

I hope that you can help me with my journey into becoming REI. The real estate market is something that has intrigued me and is something that I'll have a passion for the rest of my life. Looking forward to hearing from you.

Sorry for the long winded post, but I wanted you to know where I was coming from :)

Best Regards BP Community,

George Argyris

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Cory Rogers
Upland, CA · Member since 2013 · 42 posts · 5 votes
13y

George,
Welcome to BP. I am in the San Bernardino area. I found an REI which has meetings in Corona every last Tuesday of the month. I just found them. I have not visited them yet. They charge $25 for each meeting or $197 a year for all of their meetings. We are in the same situation. I have some knowledge from reading and following some gurus, but it isn't enough. I strive to continue learning everyday. I get 6 hours of sleep a night and balance many responsibilities. I love real estate and I know I will make it, but it definitely takes persistence, an open mind, and the ability to get through some trials. I own a tri-plex. That's it. I just started marketing for wholesaling using bandit signs. My next jump is direct mail. I also just finished a real estate course and will be scheduling my test with the DRE. I just felt like that was the right thing to do. No need to worry about gurus and whether their information is true or workable, but I felt like gaining the facts was more important to me. Plus it will give me access to the MLS. Finally, I'm looking to get immersed up to my neck in real estate. The best way to do it in my opinion is to just do it. Even that can be difficult, but withy license I can get mentoring from a real estate office, continued education (free) and I should get my immersion when I'm doing the agent thing full time.

That is the just of it. We should get together. Email me. [email protected]

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  • Eric Hettena
    Real Estate Investor · Los Angeles, CA · Member since 2013 · 99 posts · 29 votes
    13y

    George ArgyrisWelcome to the site. I can totally understand where your coming from. There is so much to learn about REI and so many different angles and exit strategies. I also can understand the temptation in paying for a "guru" to show you the ways young grasshopper.

    I would look for your local REI clubs. Check out meetup.com and search for them. Network and talk with other investors. Reach out to local people in your area that are on Bigger Pockets. I think you will surprised on how many people will help you and you can very well find a mentor who can work with you on a couple deals first.

    I think by learning on your own and spending the time to figure out what path you want to take will be much more beneficial. Keep reading, learning and go to REI clubs. Also, many members here who have blogs have some amazing information on them which give you a simple breakdown. A couple to reference who have awesome information is J. Scott and Danny Johnson, but there are tons of other people to check out their sites.

    Oh, and you can find Sean Terry's Fip2Freedom podcasts online for free. You are on your way to greatness.

    0Reply
  • George Argyris
    OP
    Murrieta, CA · Member since 2013 · 4 posts · 0 votes
    13y

    I hear you, Eric, and I appreciate the response :)

    I've looked into REIA clubs here in the Murrieta/Temecula area, but all they have are sales calls and promotion seminars that are remote...not very good for networking and meeting people :(

    Anyone on here work in the Riverside/San Bernardino County?

    0Reply
  • Account Closed
    -, PA · Member since 2013 · 114 posts · 19 votes
    13y

    George I like your style and it looks like you have success written all over you. I am a mentor/coach but I can't give you any more info than that on this post. If you want to chat look me up.
    Best,
    Joe

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    George, just lost a longer post.....again! Basically, I said what I usually do about getting started, getting the basics as you did in FI.

    You are in a great position, you will be able to find sources for private financing, just becarful with EDJ.

    Lots of rabbit paths here, read and you'll figure out who to listen to. Get the basics and you won't be chasing the rabbits :)

    0Reply
  • George Argyris
    OP
    Murrieta, CA · Member since 2013 · 4 posts · 0 votes
    13y

    Well I don't have contacts through EDJ anymore because I no longer work for them! So private money isn't something I have connections too.

    Wholesaling seems to be the only route for me to make a business out of it for now.

    0Reply
  • Cory Rogers
    Upland, CA · Member since 2013 · 42 posts · 5 votes
    13y

    George,
    Welcome to BP. I am in the San Bernardino area. I found an REI which has meetings in Corona every last Tuesday of the month. I just found them. I have not visited them yet. They charge $25 for each meeting or $197 a year for all of their meetings. We are in the same situation. I have some knowledge from reading and following some gurus, but it isn't enough. I strive to continue learning everyday. I get 6 hours of sleep a night and balance many responsibilities. I love real estate and I know I will make it, but it definitely takes persistence, an open mind, and the ability to get through some trials. I own a tri-plex. That's it. I just started marketing for wholesaling using bandit signs. My next jump is direct mail. I also just finished a real estate course and will be scheduling my test with the DRE. I just felt like that was the right thing to do. No need to worry about gurus and whether their information is true or workable, but I felt like gaining the facts was more important to me. Plus it will give me access to the MLS. Finally, I'm looking to get immersed up to my neck in real estate. The best way to do it in my opinion is to just do it. Even that can be difficult, but withy license I can get mentoring from a real estate office, continued education (free) and I should get my immersion when I'm doing the agent thing full time.

    That is the just of it. We should get together. Email me. [email protected]

    1Reply
  • Arthur Garcia
    Specialist · San Dimas, CA · Member since 2011 · 350 posts · 122 votes
    13y

    George Argyris - I would mimic what everyone else has already said. You have a few advantages, IMO.

    Given your background at Edward Jones, you can propel those skills sets to success in this business. Skills like: networking, professionally soliciting prospects, marketing, building rapport with clients, etc. are a very useful skill sets, especially when dealing with Homeowners.

    IMO, most investors aren't comfortable working directly with sellers. They are either afraid of rejection or getting yelled at.

    SOOOO...here is my 2 cents.

    Put your 5K (or at least some of it) toward a marketing campaign. Network at a few local REIAs and find a few investors and offer to do marketing for them , in return for profit sharing (10-20% of the net profit or a flat fee) for anything you find. Almost everyone will agree to this.

    Find out where they are buying and become an expert in those cities or zip codes. Then farm the heck out of it - mailers, post cards, door hangers, door knocking, etc.

    If done property, you can parlay that 5K in larger deals. You may have to learn additional "outside of the box" strategies, but everyone is. Many investors, myself include are trying a bunch of new things to source deals, due to the lack of inventory.

    I hope that gives you a few ideas.

    Best,

    AG

    0Reply
  • George Argyris
    OP
    Murrieta, CA · Member since 2013 · 4 posts · 0 votes
    13y

    Arthur Garcia Thanks for the action steps! That's exactly what I am looking for!

    0Reply
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