If you could start over with the knowledge you have now...

If you could start over with the knowledge you have now...

Real Estate Agent · San Antonio, TX · Member since 2021 · 12 posts · 13 votes

Good morning/ afternoon,

As excited I am about RSI, my gut tells me to proceed with caution. The more I learn about REI, I can't help to notice that there is the possibility of a bubble. The shortage of inventory is causing prices to rise, the shortage of lumber and other build materials is causing build costs to rise, and inflation has become a large downhill snow ball. What is your opinion about the current state of the RE market? What are you doing to prepare for a possible market turn?

To get back to the title, I am a soon-to-be sales agent in San Antonio, Texas learning more about real estate and real estate investing. I would like to leverage the knowledge on this forum as much as possible, let's connect! I am sure that a lot of you have been in the RE industry for many years and have experienced market turns for the better or worst. What would you tell yourself if you could go back in time to when you were starting out? What were some hardships that you went through? Lastly, what do you think were the choice you made that lead to your success?

Hope to connect with you soon,

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Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
5y

Speaking to the sales agent part of your question, I would have started working exclusively with investors much sooner. Being a sales agent that only works with investors is one of the most fun and financially rewarding roles I've ever had. I've also learned a ton about investing, which caused me to drastically change my investing style over the past few years.

Joseph Cacciapaglia powered by Morty
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  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    5y

    I would have started with the strategy that fits my personality and built my business around my life and my life around my business.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    5y
    Originally posted by @Ian Walsh:

    I would have started with the strategy that fits my personality and built my business around my life and my life around my business.

    exactly  real estate Niche's most of them are a lifestyle  they are not a job.. the sooner you figure that out the better off you will be.

    IE home at 5 for dinner  ???  

  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    5y
    Originally posted by @Jay Hinrichs:
    Originally posted by @Ian Walsh:

    I would have started with the strategy that fits my personality and built my business around my life and my life around my business.

    exactly  real estate Niche's most of them are a lifestyle  they are not a job.. the sooner you figure that out the better off you will be.

    IE home at 5 for dinner  ???  

    Except on golf days

  • Rental Property Investor · Orlando, FL · Member since 2016 · 135 posts · 145 votes
    5y

    @Robert Carnie if you are just getting started I think house hacking is by far the best way to jump into real estate. You learn how to be an investor and immediately reduce or completely remove your biggest monthly expense (rent).

    If I was starting over I would have house hacked straight after college.

  • Greg H.Pro Member
    Moderator
    Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes
    5y

    @Joe Villeneuve

    Golf days are only those days that end in Y !!

  • Real Estate Agent · San Antonio, TX · Member since 2021 · 12 posts · 13 votes
    5y

    @Tesho Akindele House hacking definitely seems to be great way to start and learn; however, with the recent supply shortage causing prices to rise, renting single family homes many generate a negative cash flow. I am keeping an eye out for a multi family home for my next investment.

  • Joseph CacciapagliaBusiness Member
    Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
    5y

    Speaking to the sales agent part of your question, I would have started working exclusively with investors much sooner. Being a sales agent that only works with investors is one of the most fun and financially rewarding roles I've ever had. I've also learned a ton about investing, which caused me to drastically change my investing style over the past few years.

    Joseph Cacciapaglia powered by Morty
  • John MorganPro Member
    Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
    5y

    @Robert Carnie

    If I could start over I’d buy more properties in C+ hoods. They’ve appreciate much more in north Texas. And I would have evicted sooner. I got played by a couple tenants. They all live pay check to pay check. That’s why they’re renting. I just wish I would have filed for eviction sooner.

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