I am just now jumping into the Real Estate Game. I live in Eastern NC. I honestly have no fears and I am so eager and motivated to get busy! I recently passed my prelicensing course and now waiting to take the exam to become an agent. I had a change of heart and want to focus more on investing. But I just need a kickstart. I’ve recently created a list of potential properties to invest but I want to do the right and effectively.
Does anyone have any pointers, advise, do’s and don’t’s.... ANYTHING!?!
Hi @Brittany Maria Bynum , welcome to the BP community!
If you already have a list of potential properties, your first step would be to run some analyses on these. If you are not sure how to do this or are unsure of your criteria, back up and get that straight first. Watch some BP webinars and youtube videos on deal analysis and really think about your goals.
Next, the strategy you plan on going with will determine the people you need to bring on your team. Are you going to flip/BRRRR? Okay, then speak with several hard money lenders and GCs. Or, will you be going the traditional buy & hold path? Then, you will need to speak with some mortgage lenders.
Education and networking is huge when you start out to build a strong foundation for your business.
And please, feel free to reach out anytime if you have any questions or just want to chat!
Definitely join some local groups in your area, even on Facebook, for investors - great resource for local meet-ups and to make connections and hear recommendations from your fellow colleagues.
I'm glad to hear that you're excited to jump in - lots of newbies have that initial analysis paralysis - with that being said, find the best way to crunch numbers that works for you so you can get into deals quickly. Make sure to have a semblance of a team set-up before you dive into things also, i.e. a contractor for a scope/estimate
Soon enough, as an agent, you'll be able to pull your own comps, property history reports, and get great insight that a traditional investor may not have.
Congrats on taking your first steps! You're already leaps ahead of where I started - best of luck to you!!