Hey all. I'm currently looking to get into investing in real estate I'm kentucky but I have no idea where to begin or how to begin. I would appreciate if I can get some sound advice on where I should focus my first steps on when just starting out. So far I have 5000 dollars saved to put towards my first investment property. Im hoping to go in a cycle where I start out at wholesaling then move to flipping and then renting after I gain some experience in the market. Thank you. Appreciate any and all future input!
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Hey @Shantalice Phillips !!
Good news is, you're already on the right track here at Bigger Pockets. Tons of amazingly useful information you can take action on to get started. For me, getting involved in the Kentucky Real Estate Investors Association has been very valuable for education and networking, and has opened up tons of doors. Check out KREIA.com
It sounds like you have a very reasonable "walk before you run" approach to this, which is smart. As a wholesaler myself, I would recommend starting out by Driving For Dollars to find your first deal. It is the cheapest route to go and once you wholesale your first deal, you can roll those funds into a marketing campaign like bandit signs or direct mail.
As far as rentals go, I did very well in my first year with limited funds for down payment by using the BRRRR strategy.
Finally, I'd recommend you shoot a message to @Robert Bergeron - he is a well connected, investor-friendly Realtor here in Louisville. He sends out the best MLS deals every week to his clients, so ask him to add you to that list for sure!
I would start with education, mistakes are costly in this business. Following a real investor is what made grow in the REI.
Listening to real estate guru's is a waste of time. There is a formula to wholesaling, no need to improvise.
Let me know if you have further questions.
I am just starting out myself, although I currently live in Louisville, my stomping ground is Etown and the surrounding areas. I can say over the last 6 months I have learned a tremendous amount of information from both BP and the local KREIA association. It seems every week I find a new topic I need to research and understand , and then move on to the next. My only advice at this point, is be sure you look before you leap!
Do this free course. All you need to know to get started is there.
Thank you for all the fast responses and advice! I'm currently looking into all of the information that was given.
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