Hi everyone , my name is Georgia Baker, and I am new to this site and to Real Estate Investing. I live in Santa Fe New Mexico and I am looking to network, learn and build as much as I can in this industry.
I will appreciate any and all information or thoughts. I am very motivated and looking forward to this process!
Welcome to the site @Georgia Baker
Thank you James Wise
I mentioned in my introduction that I am searching for a mentor. I want to make something very clear. I realize that nothing in life worth having comes easy or free. I will work to learn. There are plenty "Gurus" out there that I could spends thousands of dollars to invest into my education. What I prefer is hands on learning. I do not have money to offer, but I do have time. With the proper instruction I will succeed and will work to build your profits with your help.
If you have any questions my wife Sarah and I are brokers here in New Mexico.
Welcome to BiggerPockets @Georgia Baker
If you are interested in finding Mentors, I recently wrote "The Ultimate Guide to Finding Incredible Mentors"- check it out!
I'm always happy to help point you in the right direction for resources or tools on BiggerPockets that can help you with your REI goals!
Hello @Andrew and Sarah Bennett, thank you for reaching out and connecting with me. I am in Santa Fe, and read in your profile that you are in Rio Rancho. If and whe you and Sarah have time I would like to introduce myself to you both over coffee.
Hi @Scott Trench , I have to say, Thank you so much for the article. As you will read in my comment it has opened my eyes and mind to a few clarification with finding mentors and prioritizing my goals. I will be working on this today. Being a women and a Virgo, organization is very crucial. However, sometimes getting organized prevents me from getting done what I need to do. If there is anyone here that could help plan my goals, or a guided form to follow? I'm not sure if I'm wording that correctly... But anything and everything helps. Again, thank you Scott!
@Georgia Baker a nice way to break into the business is to hire on as an assistant to a top producing agent while your taking your RE class's to get you RE license in your state.
Also you can get paid as a transaction coordinator.. busy agents use these folks all the time it really helps you to dig into the nuts and bolts of how transactions work and you get paid.
If you have no means or money then your probably not ready to try to be an investor.. investor infers capital to invest.
Instead of just trading time for someone to abuse your time... get paid and learn about the industry.. you may find your calling in the RE industry as an agent or you may work in it for a few months or a year and think its a terrible job..
I have seen a lot of women come up the ranks in RE sales they are good at it and make a killing. Think about it who buys houses.... THE WIFE ... who bonds well with the WIFE mostly other female agents..
Good luck ...
Keep in mind the failure rate for no monie I want to be an investor in RE is about 99% ...
Failure rate for I want to be a RE agent and make money is about 50%...
@James Wise Jim will tell you the same thing I bet
Nice to meet you @Jay Hinrichs
Thank you for the advice and in site.
Being that I am very new to this industry, I am
not aware of the opportunities that could be available. I have been trying to figure out a way to emerge myself, and this could be the perfect way.
So, Thank you! I will start researching top producing agents in my area and start connecting and inquiring.
Being an assists to one of NM top agents would be an amazing way to be emerged and learn.
I am not familiar with a "transaction coordinator", I will learn more about this position.
I can see the importance of RE License from this perspective and the opportunities that could accrue.
Thank you again Jay.
@Georgia Baker your welcome
And a top producer if you can hook up with one will probably pay for your license course. I know many RE companies will do that..
And of course I am a personal Bias regarding being a Licensed agent for Broker it has treated our family very well over the years..
Its not to say folks can't start our investing with NO money it can be done but the failure rate is so high and you get burnt out and quit.... If you just look at a thread on BP that is say 2 years old 95% of the people posting are gone.. this site is full of first timers and RA RA folks all preaching the same thing.. Free Mentor's RIA's PODcast but those things don't make you money in the business you have to actually transact business to make money if that makes sense.. So in my ever it to be humble opinion and of course that's all it is.. One of the best course's of action when you have limited to no funds is to try to break in on the RE sales side as I described.. I have seen MANY Ladies and Gentlemen start exactly like I have described and have gone on to be top producers in their own right open their own companies.. What I rarely see is anyone who contacts me looking to be an investor and has no capital ever do anything or do I ever hear from them again.
So anyway again I tend to go against the grain somewhat with a lot of folks on BP who think all you need to do is read this stuff and listen to podcasts eetc.. This is an encouragement and social site, Pod cast are individuals who have a formula or are doing things and by and large have another agenda IE to sell or bring clients to their business which of course is great and perfectly fine way to market yourself if you want or need business .
@James Wise Jim other than welcoming GEorgia do you have any advice or comments on getting started in the industry you run a successful brokerage and are always recruiting agents.. what are your thoughts.?
Georgia I agree with basically everything Jay said.
Lots of people believe they want to get started as "real estate investors"
If you dig deeper you often find that there is nothing for them to invest. What most people really want to do is make money working in the real estate business.
A very popular thing is wholesaling. Books, Gurus, even BP members etc...say this is the way for someone with no money to become a real estate investor. In reality it is not investing at all. It is working for revenue transacting deals.
If ones goal is to earn money transacting deals with the end goal of making enough money transacting said deals so they later "invest" that money in their own real estate deals the very best place to start is as an agent. Honestly it is really the only realistic place to start.
You can earn money via commissions while learning the business, and networking with other real estate professionals such as
- Other real estate agents
- Title company employees
- General contractors
- Home inspectors
- Real estate brokers
- Real estate investors
@James Wise nicely done James !
Nice to meet you. I am also an investor in Albuquerque. If you get time to talk I'd like to exchange knowledge and information on real estate investing.
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