Newbie needing HELP, wanting to work!

6 Replies

Hello BP,

I have no background in REI, but, after reading on BP for the last month I have decided I would love to start the BRRRR strategy. I would also like wholesaling or flipping. I am interested in the Nashville, Tn., Hendersonville, Tn, Goodletsville, Tn., and White House, Tn areas. I am living in Antioch but plan on moving in that general area.

I do know that I desperately need a mentor and coach. I would love it if I could work for someone while learning what I need to do to start for myself (hint-hint). I am ready to start and feel a bit overwhelmed with all the information I have read. Just not sure what to do first and how to jump in.... need lots of help with that. Any investors in my area willing to talk more about this? Also, I have a credit score of 805 on Equifax and I have the money for a down payment.

More about myself... I have raised 2 boys as a single parent that are now 29 and 24. I have struggled and scrimped my whole life. I have always been thrifty and analytical. I have developed a HUGE interest in jumping into real estate and have been trying to educate myself as much as possible. I can see retirement from where I stand now, about a decade away... and I am NOT prepared. I need help starting a new life for myself. I don't like to just do things all willy nilly... I like to feel informed and confident, which is why I need a good mentor/coach and friend. I have been doing security work at a local car dealership for the past 2 years, I have been a chauffeur, sold jewelry, a manager and more. I want to get into something for myself now. My mother passed away a year and a half ago and left me some money and I am going to use that to start. I just need someone who has the time and patience to help me. I would LOVE to quit my job today and start working in the field somehow, I just need an offer.  :)

So nice to be a part of the BP network, such a wealth of information... and still learning...

Thank you so much,

Lisa Teague

I have ordered Rich Dad Poor Dad and The Richest Man In Babylon.

Congratulations on that credit score! Nice.

What I would highly recommend, is you go to the REIN Meetings. You can find many partners/mentors there. You absoulutely have something to bring to the table (money & credit to fund the deal), so there should be less resistance.

Take steps to building your resources/team. Talk to realtors, get contact with as many contractors, hard money lenders, find friends and family to use as private lenders, evaluate some mls listings to find your ideal property, network for partners (you can find other flippers here on bp).

If your finances are in order and your not in need of immediate capital think of wholesaling as an alternate option and lean more towards flipping. You could potentially pick up a deal from a wholesaler and have it rehabbed(with help from a mentor) and sold before getting your 1st wholesale deal. Get on their mailing lists.  Essential if you want to eventually do 5/10/++ flips a year and replace your income.

Wholesaling is great for learning repairs, and knowing what is a deal. Finding a deal fast will depend on your level of confidence, marketing, and motivation.   

Just my oppinion, but before reading the books you ordered, read biggerpockets' 'the book on flipping houses' which you can apply today. And then read those books to continue to build your wealth.

Network. Network. Network!

Good luck @Lisa Teague

Welcome to BP @Lisa Teague ! I'm not seasoned or local enough to mentor but I know you're in the right place. Best of luck :)

Welcome to BP!

I live in Hendersonville, I don't have a ton of experience but I'm pretty knowledgeable about a lot of aspects of real estate. I also have a few close friends that do have experience. Feel free to message me with any questions I'd be glad to help in anyway I can. 

Thank you all so much for your support.

Lisa welcome to BP!  I am in Clarksville and have done 50 houses in the past 3 years.  I am glad to help in anyway I can.  Feel free to contact me if I can be of service.

Chuck

Thank you so much I may just be doing that this weekend.  My pet is missing so these next few days I will be searching for him, Please understand my delay.

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