Where to Start in Real Estate

3 Replies

Hello to everyone out there, im having trouble in regards to where i should start at in Real Estate, Couple Years ago i got into one of the Top Real Estate Investing Company's in the Country, along the way i had issues with Landing a Job which also meant i had issues getting started with them, paying a fee and what not, which didn't really cost that much but still. i took a couple classes and saw what i wanted to get myself into, there after as time passed around this time last year i wrapped up my 2nd stint in going to school for something else, so i basically was trying to juggle multiple career paths. Even with leaving school i still had a hard time finding work, even being forced to work in the Industrial Field having to go through Temp Services after Temp Services warehouse after warehouse so the Real Estate stuff was on the back burner for me for a little bit simply because my market my Network is so small and it was hard for me to find anybody to join me in doing what i wanted to do. With what my intentions were from the start was to obviously have a better income in my life, live better not just for me but for my family, i also grew tired of seeing Abandon Houses, bad slumlords in my Town, my area where i live at, so i thought getting into real estate would be interesting, the thing is i have 0 Experience in this field so i dont know how to fix & flip houses and doing short sales whole sales, with what i signed up for i dont need a licenses for but for certain things i understand you do need one. As of right now im in a rut im basically back to Square one where im struggling to keep a job and i have to renew my IMA to market education but unable to and until i do i cant do much with creating a team and a network. ive had alot of ups and downs personally the last couple years which has held me back and now that im getting back into this, i feel lost on what to do where to start at, i thought about Bird Dogging maybe that would get money in my pocket soon but i cant do that by myself i have to go under someone to do that, i just need help or at least some Guidance on where i should start at or how i can get cash flowing in my pockets soon, if anyone can help me out here i greatly appreciate it.

You should look into Wholesaling, network like crazy and try and find a good mentor.

Birddogging does not pay that well in my market and typically is only paid upon completion of sale.  I suspect this is something that varies by market.  It does not have any risk though.  It should be easy to find people that would be interested in a good lead; you can probably get quite a few by visiting a local RE group.  I tell people all the time that we pay for leads resulting in a closed deal.  The problem of course is so few close.  However if I had someone provide me a couple of good leads that for whatever reason could not close I would get them some token item of appreciation (maybe an Amazon gift card) but so far no one person has given me more than one lead.

Wholesaling is more difficult and if you do it ethically (willing to close even if you do not obtain a buyer prior to closing) then more risk. It definitely has more potential reward. However, in my market I see wholesalers that either do not know how to analyze cash flow or are being deceitful and wholesalers that cannot accurately calculate ARV or are deceitful. Most wholesalers I look at a couple of their "deals" and never look at them again because either they are incompetent or deceitful and either case I do not want to deal with them. So if you go the wholesale route make sure you know how to run the numbers and that the deal offered really is a decent discount otherwise your buyer list will dry up.

There are many people who have built significant wealth in RE.  It is still occurring.  You can do it if you work hard and find the right area to complement your strengths.

Good luck and hang in there.

My type of guy. Hello Duane. Depending on your monthly budget I can help you find a deal and make some money. You will need apprx $50 a  month and some sweat equity and you will be off to a great start. I focus on vacants, skip trace the owner, call them and solve there problems. The bigger the headache the higher the motivation typically. Send me a dm.

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