New member in NC

8 Replies

Ok I've been reading, dreaming, and planning a real estate career for a while now. Making some moves, but on the cusp of doing more. I'm 30 years old living in Fayetteville/Fort Bragg North Carolina

I bought a condo a few years ago (which I didn't get a great deal on) for $65K, I just started renting that one out.

Last month I bought a house for my fiance. This was a foreclosure, I paid 54k and I believe I should have an easy 45k in equity in it, but I can't rent that one out as I need it for my family. I plan to pay it down quick to have access to the equity.

My long term goal is to buy enough rental properties to live (very) comfortably in, but my short term goal is to flip houses as a full time job. I'm having difficulty making this transition though, as many people do I'm sure.

I currently make pretty good money working full time (~70k/year) and I have excellent credit, so buying houses with conventional funding is easy, and building cash is easy. However I work a monster schedule so time to flip on the side is pretty much non-existent.

I come to BP for help! In my head, the perfect option would be to find a mentor who I could work for and teach me but no such opportunity has become apparent yet. How can I make the transition and flip houses full time time and give up my job security? I'm generally not a man who lets fear stop him from making moves but this has been tricky.

Also, I have pretty good knowledge of improvements, housework, and renovations in general. So it's not foreign to me, and I'll be getting my real estate license in the summer to try and find better deals. Sorry for the long and chaotic post!!!

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Hi @Alexander Felice welcome to BP.

I believe only wholersaling is a mistake for REIs,

you should be in the

"I will buy or lease your house fast business", or

"I will solve your home problem business"

solving problems and offering a couple of choices to the home seller, like all cash, or owner financing, or lease option then assign, is a good business plan.

See my BP blog for some sales ideas.

http://www.biggerpockets.com/blogs/3-reiskills-and-brian-gibbons

And welcome to BP!

I was USMC at Cherry Point NC long time ago, remember it well.

Originally posted by @David Pere :

@Alexander Felice I see you want to find a mentor...

Might I suggest trying to add value, it seems as though you're being a little needy :P

DUDE 

THIS POST IS 5 YEARS OLD!!!

I had forgotten I ever made this, omg nostalgia! 

Interesting to see how my attitude, perception of investing, and confidence has changed

also, if anyone else happens to stumble across this post this is proof that biggerpockets works. as of today I have 8 SFR and a 24 units MF. I've been on the BP podcast, I started a website to talk about my deals, and I spend a good portion of my day helping other people make money. BP is a fantastic community

thanks David 

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