Im new to real estate, and need advice
Member since 2022 · 2 posts · 1 vote
Wanting to start out wholesaling and turn to investing in rental and for positive cash flow, any advice?
Jessie,
Getting started in the real estate world can be extremely daunting at first, but it takes time and the willingness to jump in. I think it would be worth your time to look for successful wholesaler groups in your area first and ask to work for them. Learning a strong system that is successful has it's benefits! Also, you could get your real estate license and jump in looking for deals. That's what I did, and it's led me into the commercial space.
Feel free to message me directly with more questions. If you already have a license and just simply need a brokerage that offers tons of training and a mentor for a new agent, you should look at eXp Realty. Here's a link to join. Cheers!
Jessie,
Getting started in the real estate world can be extremely daunting at first, but it takes time and the willingness to jump in. I think it would be worth your time to look for successful wholesaler groups in your area first and ask to work for them. Learning a strong system that is successful has it's benefits! Also, you could get your real estate license and jump in looking for deals. That's what I did, and it's led me into the commercial space.
Feel free to message me directly with more questions. If you already have a license and just simply need a brokerage that offers tons of training and a mentor for a new agent, you should look at eXp Realty. Here's a link to join. Cheers!
Hi Jessie,
I can help out with the investing and cash flow side, but for wholesaling I recommend going to the REI meeting on the first Thursday of the month at Palmetto Brewery downtown at 6:00. I've met quite a few wholesalers there and everyone is very helpful. There's usually about 100-150 people, so there is someone who can answer any question you have. Feel free to reach out if you'd like to discuss further.
Your loose plan of wholesaling to build capital and then investing that capital into rentals is a fine plan and works in theory.
Just be prepared for the reality that this will be much easier said than done.
Wholesaling is tough. It requires heaving marketing, good follow up, strong sales skills, and a lot of patience. It will take years before you start building up your knowledge base and network to the point where assignment fees are coming in consistently. That doesn't mean it's the wrong move. It's just much more challenging than the gurus make it sound.
Jessie,
Getting started in the real estate world can be extremely daunting at first, but it takes time and the willingness to jump in. I think it would be worth your time to look for successful wholesaler groups in your area first and ask to work for them. Learning a strong system that is successful has it's benefits! Also, you could get your real estate license and jump in looking for deals. That's what I did, and it's led me into the commercial space.
Feel free to message me directly with more questions. If you already have a license and just simply need a brokerage that offers tons of training and a mentor for a new agent, you should look at eXp Realty. Here's a link to join. Cheers!
Congrats on starting! I recommend you starting to get a trusted team together. General contractors, electricians, plumbers, etc. before even purchasing. Join some Facebook groups involving those positions and take notes on who is posting regularly AND has proof to back up their quality of work. Start a conversation with them and build that relationship. No matter how great of a deal you have on a property, if you don't have a good team standing behind you, you have a higher chance of loosing money.
Thanks for all for the kind advice and offers. I’ll receive it and apply to my very unique situation, hope to become one of the successful ones soon.
Jessie,
Getting started in the real estate world can be extremely daunting at first, but it takes time and the willingness to jump in. I think it would be worth your time to look for successful wholesaler groups in your area first and ask to work for them. Learning a strong system that is successful has it's benefits! Also, you could get your real estate license and jump in looking for deals. That's what I did, and it's led me into the commercial space.
Feel free to message me directly with more questions. If you already have a license and just simply need a brokerage that offers tons of training and a mentor for a new agent, you should look at eXp Realty. Here's a link to join. Cheers!
It totally depends on what you’re trying to accomplish, but I know that I’ve worked relatively part time as a residential agent since I got my license. I have found that having a license helped me get into conversations and meetings I normally would not have been a part of simply because I now had some credibility and ‘know how’. I also think having a license gets you repetitions with the transaction process, which can be incredibly valuable. Most people we know don’t know that process and you become a trusted advisor for those around you. It’s the unknown that keeps us from moving forward, and just having that simple knowledge puts you in a stronger position to move forward compared to your peers.
Regarding if you can have enough time to be successful as an agent…I have a wife, 2 kids, a full time job in RE development and got 2 degrees in the last 3 years while selling real estate on the side. it’s all about creating systems! If I can do it, trust me when I say ANYONE can! Lol
Hope this helps!
Jessie,
Getting started in the real estate world can be extremely daunting at first, but it takes time and the willingness to jump in. I think it would be worth your time to look for successful wholesaler groups in your area first and ask to work for them. Learning a strong system that is successful has it's benefits! Also, you could get your real estate license and jump in looking for deals. That's what I did, and it's led me into the commercial space.
Feel free to message me directly with more questions. If you already have a license and just simply need a brokerage that offers tons of training and a mentor for a new agent, you should look at eXp Realty. Here's a link to join. Cheers!
It totally depends on what you’re trying to accomplish, but I know that I’ve worked relatively part time as a residential agent since I got my license. I have found that having a license helped me get into conversations and meetings I normally would not have been a part of simply because I now had some credibility and ‘know how’. I also think having a license gets you repetitions with the transaction process, which can be incredibly valuable. Most people we know don’t know that process and you become a trusted advisor for those around you. It’s the unknown that keeps us from moving forward, and just having that simple knowledge puts you in a stronger position to move forward compared to your peers.
Regarding if you can have enough time to be successful as an agent…I have a wife, 2 kids, a full time job in RE development and got 2 degrees in the last 3 years while selling real estate on the side. it’s all about creating systems! If I can do it, trust me when I say ANYONE can! Lol
Hope this helps!