My slow burning introduction to real estate investing

My slow burning introduction to real estate investing

Lender · Bloomington-Normal, IL · Member since 2024 · 2 posts · 1 vote

I first became interested in real estate after a high school friend of mine partnered with some people close to him to flip a house where he turned a large profit, especially for a 20 year old. He told me about the Bigger Pockets podacsts and I've been listening and learning for a few years now. I first pitched a small, family real estate investment group to my uncle who I knew would be interested. After similar discussions with other family and a family friend, we got together to talk about what we wanted. At first, we talked about Airbnbs (especially their profitability at the time) and self-storage units. Now we have a partnership LLC but haven't invested yet. We've toured several properties and I'm always plugging in numbers to analyze (primarily 1-4 family) potential investments. I'm the youngest in the group (by 20+ years) and my inexperience in real estate transactions is combated by my ambition and ability to work with numbers (this is where my job as a credit analyst comes into play). I'm really here to learn from all of you, to be inspired by you, and to hopefully chat with you! I'm eager to hear about your experiences and happy to connect.

To anyone reading this, I'm in dire need of advice for lagging and incommunicative partnerships. What struggles/frustrations have you encountered with partners and how did you overcome them? Did you overcome them or did you seek new partners? I've also been told off-market deals are often the best bet but am clueless about them... 

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  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    Hi Trevor, I totally get the partnership struggles—communication can be tricky. Regular check-ins and setting clear expectations have helped me. If things don't improve, it might be worth considering new partners who are more aligned with your goals and work style. 

    As for off-market deals, they're definitely a great opportunity but can be tricky to find. Networking with local real estate agents, joining real estate investment groups, and even driving around neighborhoods looking for potential properties can help you get started.  Don't hesitate to ask if you need anything!

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