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Robert Campbell
  • Real Estate Agent
  • Lynwood, CA
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What would be your next step or action?

Robert Campbell
  • Real Estate Agent
  • Lynwood, CA
Posted Nov 29 2018, 16:06

Hello Bigger Pockets members! 

Im looking for some insight and different perspectives on what you'll do if you were in my shoes: 

So first off, I'm a new real estate agent. I received my real estate license back in August I have found a broker who I would like to build a working relationship to learn everything I need to know to become a great agent and to be a successful real estate investor. He is a real estate broker here in California and a real estate Lawyer in Chicago. We collaborate weekly on ideas and strategies and we are opening our office in March of the coming year.

Im currently still enrolled in Cerritos college to receive my AA in Real Estate and take the courses needed to get my brokers license. In this time frame I've also been learning everything I can on how to become a successful real estate investor. Wither thats being on bigger pockets, listening to pod cast and reading J Scott's Book on Flipping Houses and Estimating Rehab Costs, and learning how it would be managing tenants. Im always on Zillow or Realtor to see what the multi units are priced at and the cities surrounding me. Last month I scouted for 2 weeks a 6 unit 1 bed 1 bath each unit for $450k in the city of South Gate closer to Downey. What I noticed that my investor eye is getting better because the property was sold by the time I could figure out how to get the finances for my first house hack. 

Over the course of me taking the courses to get my real estate license, Ive built a relationship with a couple who have a real estate portfolio consisting of three properties (one of which is a duplex) here in the city of Los Angeles. We've been talking about me helping them co-manage their property with them. Speed everything up to now, we've all ready had two meetings. The first meeting was with just the wife to discuss how many properties and where they were located and to give her a written presentation on how I would manage an 18-unit multi-family property (which was an assignment from my property management class). The husband really liked my presentation, and we set up a next meeting with them both and the conclusion was for me to create a proposal for them on what actions needed to be done in order to meet their portfolio's needs, and also what I feel I should be compensated. Ive completed the proposal and were meeting next week.

Everyday in class we discuss the condition of the market and the possibility of, if and when the market would crash. So Im thinking, should I wait, save as much as I can and try to find deals I can have more capital to invest? Or should I just always keep in mind that there is always a good deal out there waiting to be found and find me a hard money lender now? 

Bigger pocket members, WHAT WOULD YOU DO? 

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