I heard about this website a few weeks ago. After listening to several Podcasts I have decided to join.
I currently have a 9-5 job as a Software Developer and I was just looking for a new hobby that may also bring in some supplemental income. In my opinion, I am at a serious disadvantage for the following reasons:
1. I have little spare money (enough to be dangerous but not enough to cover a down payment).
2. I have no rehab skills.
3. I have no property management skills/temperment (I'd used a Property Management service)
4. I have very little marketing skills/ambition (I will have to rely on Whole sellers).
My only skill I have currently is the willingness to take a risk.
Is it possible for me to succeed or should I just choose a new hobby? :)
@Jason D. Weeks , this is fine as long as you are willing to work on each one of these skills everyday. It's definitely not impossible, it almost feels like studying Computer Science. Eventually everything will all click.
People have begun in real estate investing with less than it sounds like you have and ended up very successful, not to say this is easy. Keep reading, keep watching podcasts, find mentors, perhaps partner on your first few deals with others who have more experience. If you find you have the passion, you will find ways to make it work.
@Jason welcome to BP! I think you should def try it out! It may be hard but in the long run it'll be totally worth it. Plus you have the BP community, which is the right place to be 😬🤘🏼
have you thought about what kind of real estate you want to invest in ?
I haven't thought about it long and hard but it seems that rental properties would be my choice.
Hello @Jason D. Weeks Welcome to Bigger Pockets! Hey, you can do this. Why not start small? Buy some rural vacant land for $500, sell for $1,200 and keep growing your acquisition balance to where you are comfortable enough to make some other decisions? And while you are doing that you can sell a few of the nicer properties with owner financing and sit back and collect $199/mo per property for doing nothing. Totally not crazy. A ton of us are doing it. Great way to get rolling in real estate and since you are paying cash for everything you don't have to worry about credit - AND - you will sleep well at night because everything is paid for. Hope this helps!
Welcome aboard Jason! I would be careful about relying on wholesalers too much. It's great to add them to your "team" of sorts, but it's tough to get consistently good deals from wholesalers unless you become their "go to buyer." I would consider other avenues to purchase as well.
Welcome to BP.
I invest in the Lawrenceville , Gwinnett County area. Congratulations on taking that first step. I suggest to attend a few Real Estate Investment meetings. Checkout Meetup.com to network with other real estate investors in your area.
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