Hello! My sister and I live in Raleigh NC and have recently quit our jobs to pursue a business in house flipping. We attended the Fortune Builders seminar last February and have been doing self education about the business since then and at this point it would really be great if there was someone out there who would be willing to give us advice and guidance as we begin to look to purchase our first property. We have looked into going to tax auctions and maybe buying directly from the owner before the actual auction and then either flipping the property ourselves or sell it to another flipper. I have been reading blogs on this site for awhile but to have an individual we could directly learn from, or if there is someone that actually lives in this area and would be willing to help guide us through our first transaction that would be great! Specifically, we need help choosing a contractor who is experienced in working this type of business and perhaps a real estate agent who has expertise in foreclosures. Any concrete advice or help would be so greatly appreciated and We thank you so much in advance!
I am hoping that the Fortune Builders event you attended was the free event.
You are on the right track. I dont know if quitting your jobs was the best idea as you will need capital to truly make it in the wholesaling / flipping world.
I would suggest checking to see if there ae any real estate educational clubs in the area and get to one as you can network with others in your area who are making it happen.
It is hard for people to recommend a contractor as most like my company have one or two that work mainly for our own company. There are others out there but you will have to get references.
I am a investor in the area and have done hundreds of flips in the area. I stay mostly in the itb area but do do a lot of projects elsewhere . I am just now starting a seminar of my own but I would be happy to show you exactly how to make money here in Raleigh in your new business for free. Just contact me via email and we can go from there.
I would be VERY careful about mentors. It is important to ask yourself why would someone help you. While all of us would love for someone to "hold our hand" through a process. Successful mentors are really busy doing there job. They have their people, so why would they want to have someone else encroach on their people, deals etc. What do you have to give back? Why would they want to help you? If you keep this in mind you will be successful and won't fall for a guru, who is only great at having you fund his lifestyle!
You would be better off going to the meeting, making connections. Having coffee, getting to know other and offering to help them. Go to their business meetings and sit and learn. I worked for a property manager company learning while i got a W2. Than I applied what i learned in the evening. Yes there was a HUGE learning curve, but get started! Don't wait for someone else to make you successful.
I am not sure if this response was directed towards my comment but I am not selling my course as of yet I have several people in the area I have helped get started and are currently working with. The first 50-100 people are to prove how my guidance is a success. That is not how I pay my bills . Although I would agree on nationwide gurus that are usually not real.
Think of BiggerPockets and all of the knowledgeable folks here as your mentor. I strongly encourage you to attend some TREIA meetings and network with the people there who are doing what you and your sister aspire to do. Also look into attending the inaugural BP meet up in Cary as Dawn mentioned. Fortune Builders has its pros and cons and will undoubtedly help in your endeavors but I firmly believe nothing is a better teacher than experience. Lay out your blueprint (business plan) and stick to it. If you're dead set on having someone guide you through your first few deals send me a PM and I'll provide you a referral or two for local investors who will do that sort of thing for a percentage of the profit.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.