Hello my name is Nichole I'm new to real estate I recently obtained my real estate license and would like to start my investing journey. The purpose of me getting licensed was not to become an agent but to understand the ends and outs of buy and selling homes to make my investment journey easier. I really would like to get into Fix & Flip I have about 50k saved up for my investment look to network with others hopefully partner with other seasoned investors to get ahead and learn from my experiences. Please feel free to reach out with ideas to help me get started I truely don't know where to begin anything will be helpful at this point thank you
Hi Nichole,
Congratulations on obtaining your real estate license—that was a smart move if your goal is investing. Understanding contracts, valuations, and the buy/sell process will give you a strong advantage long term.
With about $50k in capital, the most important thing early on is focusing on deal analysis and risk management rather than renovations. Most first-time mistakes happen from overpaying, underestimating rehab costs, or misjudging timelines.
Here’s how I’d recommend getting started:
Wishing you success as you get started—fix and flip can be very rewarding when done correctly.
Steven Perez
@Franklin Perez thank you so much for your feedback it really helps me think deeper into how to approach my investments.
@Nichole Harrison, a few thoughts:
1. Some people will say NOT to get a real estate license to facilitate investing. I am NOT in that group. I did exactly this.
2. You said you are a NEW agent, I suggest working as an agent a little while to gain experience. You mention fix & flips, find investors who do those and try to capture them as clients. Study what they are doing and have done and learn from their successes and FAILURES!
3. How do you capture a fix & flip investor client as a new agent??? Some of them have long affiliations with a certain agent. Those you are unlikely to capture. Focus on newer especially out of area investors who don't have that existing affiliation.
As a new agent you can't offer them the experience they might wish for. So, what can you offer that they want?
- A discount? Will your broker allow you to work on the cheap to build up business? Offer a steep discount on a first listing perhaps.
- Boots on the ground! For an out of area investor, they often want and NEED someone local to be their eyes and ears. They may ask you to do some leg work outside normal agent representation. Maybe check on an existing rehab and send them some pics of progress etc. Many times an agent does some things outside their role as an agent to serve their client.
- Be willing to provide them MORE information and MORE attention. New investors who are outside the area want/need more attention. They may want more comps and more help analyzing potential deals. Learn how to analyze deals and be willing to put that time in.
That TIME is something established agents may not be able to give that new out of area investor, but you as a new agent have more time than clients to serve in the beginning. So, use that to your advantage.
4. Go to local real estate meet-ups to meet local investors. Sometimes even out of area investors will come to these.
5. By seeing how people doing how and why investors in your area are succeeding or failing you will gain some "experience" even before taking on that risk yourself. It is sort of an inside under the hood peek at things that you can get by having a role as their agent.
6. A few commissions will help bolster your $50k savings to invest!
7. Learn how to find off-market deals! The same type of deal an investor might buy is something that could be a listing for you! You have 2 ways to take down a deal now, as an investor or as an agent. So your prospecting efforts have more than one way to bear fruit.
Wow thank you so much for the advice this will help me along my journey I will definitely take the approach of gaining the experience as an agent to gain fix & Flip clients that's genius.