I am just starting out and have suffered in the past from analysis paralysis. I am looking for anyone in SE Idaho (Idaho Falls, Ririe, Rexburg) who needs help. I am seeking Multi-family apartments 5+ units mostly because the hard money or private lender can gain tax benefits and my own personal credit is secondary. I have been through a divorce so I am only an average 640-660. I am willing to work and help others get and make deals and not get paid (so I can watch and learn). Thanks
I know this post is a year old but if your still looking for properties i have a bit of advise, I've seen a couple of your posts and i think you are cutting yourself yourself short, i'll explain what i mean. I'm still pretty new at investing but i feel that i have a pretty good grasp on how things work, and I present that when i'm looking for deals or help. Your posts sound like a job interview, which is great if your looking for a job, but your not, your looking for a business minded person to take time out of his/her busy day and come and help you.
I've read your profile and if what it says is true you have gathered a lot of information through books and seminars. Thats all that you need to get started, i still don't have a "mentor" for myself. I only read books and gathered information from bigger pockets before i started my first rental which was a SFH that i was currently lived in. I fixed it up with about 20k, which was way more than i needed to because i was new and over paid for just about everything a person could over pay for, and it has paid over 20% COCROR for the last 2 years, in one year i'm going to sell it and the equity will help me upgrade from one SFH to a 6-10 unit complex based on the market in YOUR area. All the information i needed was in the books i read and on bigger pockets, ya it would have been nice to have some one stand by me and pat me on the head as i move forward through the project, but when you boil real estate down to its most basic element, its math. If the math adds up, you have yourself a good deal. Thats why i don't think you need a mentor to get started.
This doesn't mean you don't get advise from other people, as you get started your going to build relationships with some amazing people who can and will be willing to offer advise, but you have to get started. I'll give you an example, i have a management company take care of my SFH and thats because she is a lot better at it than me, she has more than paid for herself. Any time i have an idea regarding my investment portfolio, i call and get her opinion to see what she thinks and her feeling on it because she has her own investments that she has managed and flipped for the last 15 years. So i suppose you can say she would be my "mentor" but that relationship didn't start by me knocking on her internet door asking if she would be my mentor, lol.
I could go on and on and before i have a book here i'll kind of wrap it up, but these relationships took time to build and it was only after i started myself that they started to grow into something. Just get started with a deal, i used the house hacking method for my first deal, i felt it was much safer in my situation because than i still only had one mortgage, but you have to decide how your going to get started, you just have to start! I sent you a request, if you have any question on where to start i would lend a hand.
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