Louisville, KY Member

John Napier · 2016-02-03T15:30:27-08:00

I am heavily investigating a career in real estate as an agent and house flipper. My goal is to obtain the KY state real estate license by May?, 2016, change jobs to 'Real Estate Agent' this summer, and flip a house this year.Currently I own 1 rental and my own house - both I rehabbed with my own sweat and tears (plan to be less hands-on in future with this under my belt). After a few weeks of reading / listening to Bigger Pockets I realize I need to re-evaluate my position on the rental home. I can say I have rented my own home for 3 days during Kentucky Derby for over $4000 for the last few years and plan on continuing that practice.I plan to ask for advice on my first couple of flips and connect with local members. I have listened to the first 40 podcasts and sincerely enjoy the education and conversation. What a resource for us new guys.Regards,John Napier

Steve Osowicz

Real Estate Broker · Louisville, KY · Member since 2014 · 121 posts · 91 votes

10y

@John Napier Welcome, you can find many threads on the advantages of being an agent, if you want to make that a career (along with investing which goes hand in hand) I would suggest giving it a full year as an agent. Year 1 is the toughest as an agent in my opinion and why so many agents leave at or before a year is complete.

Flipping is it's own animal and their are experts on here to help you with that.

I like Todd Thornton's Real Estate Academy - it allows you to take the course online, but if you would rather A Pass Weikel is a good brick and mortar location to get your license.

1 Reply

Aaron Hunt

Shelbyville, KY · Member since 2016 · 1 post · 0 votes

10y

I'm glad to see another Kentucky BP member. I am of a very similar mindset. I am considering a real estate liscence as well and also looking to flip houses.

Best of luck

Aaron

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Bryan DruryPro Member

Investor · Owensboro, KY · Member since 2008 · 130 posts · 65 votes

10y

@John Napier

Welcome to BP.There's a wealth of education and potential network opportunities on this site.Take advantage of it.Im an investor in Owensboro,Ky.Ive attended a BP meetup in Louisville that was beneficial.It was at a local investors rehab project.Probably more in the future.Best of luck

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James Bonsall

Investor · Cincinnati, OH · Member since 2015 · 12 posts · 6 votes

10y

Good luck, John! I am from Louisville but live in Cincinnati now with 12 units and 3 more under contract in that area. My wife and I will be investing in Louisville in 3-5 years so I look forward to hearing how you do.

0 Reply

John Napier

OP

Investor · Louisville, KY · Member since 2016 · 5 posts · 1 vote

10y

Hey thanks, guys. Yeah, there is lots of learning to be done and things to get going. I am taking the first steps and told myself to start taking action and getting things done. For me, I have read enough and have the right mindset. Right now I am checking out brokers and schools.

As for the schools, I have 96 hours of class to do so I need to plan for 60 - 90 days of regimented evening studying . There also is a 2 week blast course in town by mentioned A Pass Weikel.

I went to a Keller Williams's info session. I liked what they said and half way through realized they totally used the same principles as heard on BiggerPockets and built mentoring, lead generation, operations, and support systems into the business teams they build within the franchise.

I also have plenty of other things to do. I need get my finances in order and physically make a plan with goals, dates, inputs, and outputs. I need to build in time for the preparation and finish up some other projects ( like the almost done head gasket replacement I started before it got cold.)

I look forward to using BP and meeting it's people in the days to come.

Regards,

0 Reply

Derik S.

Shelbyville, IN · Member since 2016 · 47 posts · 24 votes

10y

Hi John,

I've actually been to Louisville a couple times (there's also a Louisville, CO, which I didn't know), my relatives used to own a house in that city in a nice neighborhood, within walking distance to a shopping center. So I have a couple fond memories of Louisville.

What is the housing market like in Louisville, while I'm at it.

0 Reply

Erik HitzelbergerPro Member

Investor · Louisville, KY · Member since 2011 · 331 posts · 278 votes

10y

John,

@Steve Osowiczoffers sage advice. If you want to be a FT real estate agent, spend the time to get your license and learn how to do the job well. In fact, find an area or a niche and be an expert at it. Once, you've got that down transition into flipping or renting. I too see many people would-be investors or agents put themselves in a position where success is almost impossible because they try to do too many different things at once. Being kind of good as an agent, a rehabber and a landlord will lead to financial ruin while being damn good at any one of them can lead to success.

Good luck!

Erik

3 Reply

James WilcoxBusiness Member

Real Estate Agent · Bowling Green KY ~ Lexington, KY · Member since 2015 · 1k+ posts · 601 votes

10y

@Erik Hitzelberger and @Steve Osowicz absolutely are right on the money. You need to learn being an agent first. Get some of the cash coming in and get those finances in order. You do need money and a good amount to get into flipping. At least you have some experience with renovations which will help and a rental to help keep money flowing in. It is also good to see you are consuming all the REI information you can and really engaging in the BP community. This is a great resource for all things REI. Good luck in all your future REI ventures!

REI James w/ eXp Realty54 Reviews

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