What would be your next step or action?

1 Reply

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? 

@Robert Campbell

Hi Robert.  I'm really not sure.  I know some folks on these forums are doing just fine with a diversified approach within real estate, including being an agent - however from my observation - the people that do better have a 'primary' skill-set and set of experiences that is not directly within real estate.

I don't think being a real estate agent is 'it' - there's not enough of a learning / growing, and consistent 'making money' ramp up that will put you where you want to go in the future.

I'm not trying to discourage you.  Some here may give you different advice.  I just wonder if there's some other way to get some experiences or an education that may be more valuable.  

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here