Hey BP! I’m in a bit of a pickle, I’m hungry to do my first deal and have been building my credit and have around 10k to get started with. I recently graduated and got a job with a construction company as a safety engineer, compensation is excellent, aiming to be able to put set aside at least 40k annually for real estate. Downside is I’ll be on the road bouncing around to new construction sites every couple months. I’m going to build a cashflow portfolio but I am unsure how to do this on the road? Is there anyone you know that I could pick their brain who got started in a similar situation? Where are some good spots in the south east to start building a cashflow portfolio?
Below is some more context of my situation:
I have experience in real estate sales, worked part time through college as a real estate agent.
I would like to be able to retire from my 9-5 job within 10 years and focus on building a real estate company.
Currently moved to Charleston SC area for to my first construction assignment as a safety engineer.
I’ve been studying real estate investing for about 2 years and networking and at this point I need to jump into a deal, doesn’t have to be a home run but I need to get on base and start building some equity in real estate!
@Morgan Madill The fact that you'll be moving around, isn't a problem. It can actually be a good thing as you will get to know different towns.
Find a town that works for you and start building a team there. You can have a property manager take care of the properties. Alternatively, you can manage them yourself. If you know people in the trades who can do repairs and use someone to help place tenants; you're good. When buying places, if you are managing them I'd suggest not buying places in rough areas.
@Theresa Harris thank you for the solid advice, I appreciate it!
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