All Forum Posts by: Evan Alexakos

@Clayton Silva Thank you for the advice. I am still looking into the sales representative as a viable option for a root to raise money as I get the business started. I'll make sure to check out sales teams that are more real-estate oriented and consider the possibility of getting a gig as an appraiser or in insurance!

Hello, I currently have around $13,000 saved for my first property; however, this is far from enough. I am considering a job or a gig that can be done to save more money to eventually invest, and I have heard a lot of talk about sales. I don't know for sure how much is scams versus actual possibility, but I am highly motivated and would like to consider all paths to success. 

@Sultan Ali Thanks for the reply, I hadn't thought of shadowing local flippers or real-estate investors, so this idea is definitely eye-opening! I'll start to reach out in my local area. 

I've been trying to save money to get into real estate and previously did much research on wholesaling; however, when I attended a meetup in Chicago for real estate. I was told that it was illegal and that, in most cases, to be a wholesaler is to be a scammer. That the practice is shady and can hurt the seller of the home. I do not post looking to offend; I am genuinely interested in finding a way to join the real estate business, though I am too low on funds for most other methods. Was that meeting just people being rude to a new investor? Is there a wrong way of wholesaling? How can I get started and do so properly? 

@Lauren Sanford I'll have to look into that. What is a note partial? And how would that factor into this? 

@Jackie Carmichael Each of your points has taught me something that I did not know! For future reference, understanding that most hard money lenders want to see at least 10-20% of the down payment is huge. I've considered wholesaling in the past, but, need to further research the viability of such a plan. As for the trailers, I'm planning to compare any properties (including trailers and houses) against the average of three comps sold in the last year within a 1-2 mile radius. 

@Nicholas L. Thank you very much for the advice. I'll look into saving plans and strategies for ways to expand that cash until I have enough for a deal. I do have the opportunity to borrow, but I'd prefer to look at other options. House hacking is definitely of interest, and as long as I could figure out a way would be amazing!

I've been interested in real estate for the last couple of years and just graduated from college. I'm taking a gap year before heading off to law school and desperately want to get started. As of now, I have $13,000 and a dream to get into real estate. FHA loans, househacking, and BRRRR are other possible starts, but I am in a situation where they are either not possible or not preferred. Is it possible to get into flipping with $13,000 of my own cash? Can I target trailers as a viable option? Should I look into family and friends who I know are willing to invest in the first property?

I'd prefer to do it without having to borrow money, but I can also borrow. If anybody has an interest in sharing tips with a newbie and future real estate investor, I'd very much appreciate a conversation. 

@Henry Clark I understand! Looking for an easy solution or an apparent idea won't work in my situation, and I have to put in the work! I'm going to take your advice and look at trailers in the area alongside older rental investors. Seller financing is a remarkable tool and finding my why will keep me going. Thank you for the inspiration and advice!

@Aaron Zimmerman Thank you for the advice. I'll make sure to due further research to understand how much money I really need to get into it, like the down payment and closing costs. Using my first year to save is a great idea!