New to Real Estate · St. Petersburg, FL · Member since 2022 · 19 posts · 17 votes
Hello Everyone, I am new to REI. My interest started when I read Rich Dad Poor Dad followed by Cashflow Quadrants last October. I have since then been watching Youtube videos, listening to Podcasts, reading books, and taking some online real estate investing courses.
My goals as a REI is to do Wholesaling, flips, multifamily rentals, and short and long term rentals.
I am currently in Iraq for work as a private contractor but I will be back stateside in May. That is when I will be able to start taking the next steps into this journey. I am wanting to network with some great people and grow a team of like-minded people. I live just north of Tampa, FL and I plan on doing my business in the Clearwater/Tampa/St. Pete area. If you are in the area, reach out and lets connect.
If anyone has any other suggestions for my "waiting period" until I am back, I am open to them.
My goals as a REI is to do Wholesaling, flips, multifamily rentals, and short and long term rentals.
I would narrow down these goals -- pick just one you want to start with. During your "waiting period," you could use that time to get good at sourcing and analyzing deals.
My goals as a REI is to do Wholesaling, flips, multifamily rentals, and short and long term rentals.
I would narrow down these goals -- pick just one you want to start with. During your "waiting period," you could use that time to get good at sourcing and analyzing deals.
You are right! Great suggestion and that is what I am going to do. I am going to start with wholesaling first. I wanted to state my long term goals.
@Matthew Martin - I'd suggest thinking of it more like this.... Wholesaling, Flips, rentals, there all exit strategies and how you're going to get paid.
First thing is to focus on a specific type of lead source and learn how to find them and the likely conversation with the owner. For example, Vacant houses with out of state owners... seems a fairly obvious conversation with the owner. Probate, you're dealing with heirs (Tampa is good for probate, older people and vacation houses etc), Pre-foreclosures, someone is losing their home because they can't afford it, or simply distressed properties that need work that you might get at a discount. I'd take the time now to learn the lead(s) source that make sense for you. (Some people don't like the "Hi, are you interested in selling your deceased dad's house" for example... Once you pick lead sources, research them, learn everything about them, and start to practice creating offers. This involves "how much you think the property will sell for once rehabbed, back in to your numbers, rehab budget etc, costs, to get the offer you'd make." Same numbers apply for wholesale and fix n flips... rentals are much much different as now you're looking at longer term returns. Hope that helps.