New Real Estate Investors!

Member since 2026 · 1 post · 1 vote

Hello everyone! New investors here. My husband and I are looking to start our real estate investment journey. We are currently living in a condo that we have owned for the past 6 years, and now that we have a young child, we are looking for our next house. My husband is a new realtor. We cannot rent out our property; therefore, in order to get our next place,we need to sell. Looking for others who have been in similar situations for advice on how to get started with a child.Anybody looking for a Realtor to partner with? Also looking for a mentor. Our goal, like many others, is to be financially free and for me to quit my W2, replacing the income with real estate investments.

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James JonesPro Member
Investor · Collierville, TN 38017 · Member since 2017 · 876 posts · 615 votes
14h
Welcome in. The best starting move is not a mentor or a partner. It is a screen you refuse to bend.
Here is mine, so you can steal the shape of it: BRRRR single-family in Memphis under $100K, ARV $180K-$265K, and rent that hits the 1% rule. If a house misses, I walk, no story changes that. For 3BR+ here, Section 8 rents run $1,395-$1,950, and that rent has to carry the deal after rehab and a DSCR refinance at 70-80% LTV.
Cleveland will have different numbers. Your job is to find yours and write them down before you shop. Then run ten deals a week on paper against them. Reps build judgment faster than any course, and at 236 properties I can tell you the bottleneck is never knowledge. It is deal flow.
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Ametria Chaney
Realtor · Memphis, Shelby County · Member since 2026 · 165 posts · 55 votes
14h
Welcome to both of you, and starting together is a real advantage if you agree on the plan first. Before you buy anything, decide what kind of investor you want to be: long-term rentals, flips, or something else, because each one needs different skills, money, and time. Then learn the numbers for that strategy, including taxes, insurance, maintenance, vacancy, and reserves, not just rent minus mortgage. I would also suggest starting in a market you can understand well, whether that is near home or somewhere you have a trusted team, and talking with a knowledgeable local agent early to test whether rents and prices are realistic. Take your time, underwrite conservatively, and let the first deal teach you the process rather than trying to make it perfect.
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Min ZhangBusiness Member
Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
11h
Hi Lindsay! That’s exciting that you and your husband are starting this journey! With a young child, I’m sure there’s a lot to think about, so I’d take it one step at a time and find a strategy that works for your family. It’s great that you’re already thinking about your long-term goals. Wishing you both the best!
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James WachobBusiness Member
Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 891 votes
9h
Hello @Lindsay Stahm ! Welcome to the community! With a young child and a move coming up, I’d focus on keeping things manageable and not putting too much pressure on yourselves to jump into investing right away. Selling your condo to fund the next home doesn’t mean you’re putting your investment goals on hold. You can use this time to build your savings, learn how to analyze deals, and figure out which strategy makes the most sense for your family.
I’d also recommend starting with one investment that fits your budget and lifestyle rather than trying to scale too quickly. Real estate can be a great path toward financial freedom, but having enough reserves and a plan for unexpected expenses is especially important when you have a family depending on you.
I’m a real estate agent based in Memphis, TN, and I work with investors building long-term rental portfolios. If you’re open to exploring markets outside your area, I’d be happy to connect and share some insight into Memphis. Wishing you and your husband the best as you get started!
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James WachobBusiness Member
Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 891 votes
9h
Hello @Lindsay Stahm ! Welcome to the community! With a young child and a move coming up, I’d focus on keeping things manageable and not putting too much pressure on yourselves to jump into investing right away. Selling your condo to fund the next home doesn’t mean you’re putting your investment goals on hold. You can use this time to build your savings, learn how to analyze deals, and figure out which strategy makes the most sense for your family.
I’d also recommend starting with one investment that fits your budget and lifestyle rather than trying to scale too quickly. Real estate can be a great path toward financial freedom, but having enough reserves and a plan for unexpected expenses is especially important when you have a family depending on you.
I’m a real estate agent based in Memphis, TN, and I work with investors building long-term rental portfolios. If you’re open to exploring markets outside your area, I’d be happy to connect and share some insight into Memphis. Wishing you and your husband the best as you get started!
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Matthew MorrowBusiness Member
Investor · PA - NY - NJ · Member since 2019 · 853 posts · 301 votes
4h
@Lindsay Stahm welcome. My first deal was a house my family lived in while we fixed it up, so I know what it's like to try to grow with a kid in the middle of it. Since you have to sell the condo anyway, I'd look hard at whether the next house could have a second unit or something you could rent later. Your next home can be your first investment if you buy it with that in mind. For your husband, I think the best thing a new agent can do is own something himself. Nothing teaches you what investors care about faster. Welcome aboard.
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