Beginner RE Investor Looking to Network Locally

Beginner RE Investor Looking to Network Locally

Member since 2020 · 11 posts · 4 votes

Hi BP Raleigh community! I'm working on getting started in real estate investing and my first step in the journey is to try and build a local network. So, wanted to get out there and see if anyone recommended any local mastermind groups, networking events, or any other ways to connect with local investors. This forum alone seems like it's going to be an awesome way to connect with others.

I live in Fuquay-Varina with my wife and two kids. Work out of my home currently primarily due to the pandemic. I actually sell software to CRE investment managers. In fact, most of my work experience is selling software, however selling software in the real estate marketplace has been a new experience for me this year. I must say the experience has definitely helped open my eyes up to the opportunities real estate can create in terms of wealth generation and helped give me that itch to get back in the game. I've always read up on RE investing, like a lot of people I read Rich Dad Poor Dad and even experimented with flipping raw land for a bit. But I'll admit I never took action like I should have.

In terms of goals, my number one priority is cash flow and building a passive income stream. Honestly, I'm having a hard time nailing down my strategy. I'm considering short-term rental(s) locally or on the coast. Or I've been considering investing in SFHs using the BRRRR strategy. I've got my reasons for considering both strategies which I can provide further context if anyone is interested.

I look forward to connecting with you all and thank you in advance for your help!

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  • Real Estate Agent · Raleigh, NC · Member since 2019 · 4 posts · 2 votes
    5y

    Hey Jordan, Welcome!

    I definitely suggest reading through this local forum, tons of great info. BP has a local meet up group that you can access through the networking > Events. TREIA (Triangle Real Estate Investors Association) has a large following with a ton of information. It can be pricey and the networking can be difficult for newer investors (in my experience). Also some of my clients have found success on Meetup.com

    I'd love to hear more about your Strategies and the reasons behind them, I'll send ya a message!

  • Adam SchneiderPro Member
    Lender · Raleigh, NC · Member since 2012 · 957 posts · 639 votes
    5y

    @Jordan Howard. In a pre-Covid world, I'd recommend you start by joining TREIA. In the virtual world, I'd consider a different path and do more online digging to connect with people. When we mention networking, it's often difficult to understand exactly what we are saying...you might want to create a list of whom you want to network with--agents, wholesalers, contractors, home inspectors, private lenders (that's one of the things I do), and then seek them out. You might want to go to MeetUp . com and see if there are any appropriate local events. We just held a virtual Deal Maker Sessions where wholesalers present inventory. You mentioned you want to possibly BRRRR, so you might want to reach out via BP to someone who has written about their BRRRR experience.

  • Flipper/Rehabber · Raleigh, NC · Member since 2019 · 3 posts · 0 votes
    5y

    Hey @Jordan Howard, at least you're thinking in the right direction if you want cash flow in this area.  Very hard these days to find single family home deals cheap enough to cash flow in the Wake County area with prices going up so high (most are for appreciation buy and hold instead of cash flow in this area).  You could do pretty well cash flow wise with short-term rentals in Wake County and vacation properties on the coast once you have your systems and management set in place for short-term rentals.

  • Member since 2020 · 11 posts · 4 votes
    5y

    @Nick Margroff thank you for the feedback. I have found a couple groups on meetup.com that have been helpful. 

  • Member since 2020 · 11 posts · 4 votes
    5y

    @Adam Schneider Thank you! The ability to connect virtually has actually been a positive game changer for me. I have two little ones (1 & 5 year old) and spending some time with them during the evenings is a priority. Going through available resources now on BP about BRRRR. Thanks again

  • Member since 2020 · 11 posts · 4 votes
    5y

    @B.J. Ward thank you for the market insight. I'm evaluating the SW Wake county area and running some comparative analysis against non-local markets. thanks again! 

  • Real Estate Agent · Raleigh, NC · Member since 2020 · 2 posts · 1 vote
    5y

    Welcome Jordan!

    I would advise you may want look into Johnston or Harnett counties as well.   

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