I wanted to know if anyone could give me any pointers on how to find and start my first deal in real estate investing.
Learn the market first. You have to know the market. I started by getting my real estate license. That was the best decision I have made in my real estate career. If that is not an option find an agent that you can spend time with and learn the market. this will bring you deals.
Are you actually using your license to sell/buy houses for others or just for you own use?
In other words, what was the most helpful part of having a license for you? Was it the access to MLS data and freedom to go see houses whenever you wanted or was it learning about the market while acting as a real estate agent? Or others?
I am thinking about getting a license but still trying to figure out pros & cons since I would be using it for my own buys/sales, not as a real estate agent.
Everything you mentioned. I really only use my license on my own buying and personal listings but the power to not have to wait for another agent to get back to me is worth it alone. I guess I would be curious as to the cons of it. For me it was all about control. I wanted that control so put an offer in when I wanted it in when i wanted it in. Right now I don't need to pick up the phone to ask an agent to write an offer who can't get to it for a few hours. I can write it and submit it in 10 minutes...
Read J Scotts book on flipping houses and learn your market, learn your market, learn your market. You have to know a good deal when you see it and be ready to act on it.
Finding the deal isn't easy, but there's plenty of strategies that you can search for more info about:
Deals on the MLS are hard to find, they've already been picked over. Also depends where. You can certainly find some steals if you see value where others missed it.
You can look at homes in foreclosure on sites like PropertyRadar and market to them, but everyone is doing it.
You can drive around looking for ugly houses and knock on people's doors.
You can market with bandit signs.
You can ask people who rent their houses out if they want to sell that property instead.
You can get lists of absentee owners from places like listsource and try to market to those people.
You try to let others do the marketing for you by getting on wholesaler lists.
Were you able to get more answers on the side? I would love some guidance if you can provide me with that. I am trying to get into real estate investing.
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