Need Some Advice in Getting On Track in the Real Estate Business

[Adrienne G.]

Hi everyone.

I don't know if this is the appropriate forum for this, so if it is, please let me know. And I'm stating openly that this is not an advertisement or solicitation for business. I'm gathering opinions about a business move. Now that I've gotten that out of the way....

When I first found the site, I introduced myself and a little about my situation. A few people counseled me to create a goal for what I want out of real estate and set a plan in motion. Well, I'm still reviewing websites, reading books, blogs & newsletters, researching, attending CFRI meetings, and reaching out to individuals for mentorship. So the education piece is well underway.

I announced before that I was going to enroll in the Pre Sales Real Estate license class. Well I did that. I am currently in the class (online) and attended a review class this past weekend. I'm hoping to sit for the exam in the next two weeks. I've been researching real estate firms (so far I've been impressed with Keller Williams) but haven't made a decision. If I don't choose Keller Williams, I'll probably choose a boutique firm. KW offers all the mentoring and training, not to mention their access to tools. A boutique firm will allow me to get my hands dirty quicker. So there are benefits to each.

In terms of my own investing strategy, I am leaning towards triplex & quads to start, a couple of small single family homes (maybe 3) to rent, and long term (5+ years) flips and apartments. Cash flow is my goal as an investor with profitable rehabs/flips being secondary.

In the mean time, I still need to make money so I can fund my real estate investing career.  I'm not in a position to plop down a ton of cash on my first property. I do not want to short cut it in things I'm still not educated enough (wholesaling, partnering with someone on a multi-unit or flip). So I started thinking about my skills and how I can bring them to the real estate investing world today. So here's what I was thinking.

I have strong skills in:

• Wordpress Web Design
• ECommerce
• Podcasting & Video Production & Editing
• Writing/Blogging (I'm published)
• Social Media Branding & Marketing
• Email Marketing
• Mobile Technology
• Photograpy Editing
• And of course Recruiting and Business Consulting (I did a lot of startup advising)

Here is the problem. I do not know if real estate investors find any of these skills valuable to them. When i go to meetings and observe, some investors clearly state that they re DIY types and don't like having too many expenses. Which I can respect. And a lot of real estate agents and companies have internal people to handle this stuff. I'm not looking to be a "VA" but would love to integrate my skills and my new license into a new career as a real estate professional and eventually an investor.

So here's the question. How do I articulate the true value in most if not all of these skills to real estate investors (especially new ones)? Ordinarily I would not be shy about the value of any of my skills. But I am brand new to real estate and have no background in it. I figure if I can start doing some work with real estate professionals in this capacity along with getting my license and practicing, I can gain more clarity and experience.

Any advice? I'm all ears.

[Adrienne G.]

OK, I didn't want to create another thread just for an update. So here goes.

I am in the home stretch of my real estate license class (hallelujah!!). Now i just have to pass the class final exam and set my test date. I'm still reviewing agencies. The interviews have been informative. And I am going to have to make a choice soon. But first, I need to pass this exam.

I have continued to pour over the blogs and forums, as well as listen to podcasts and webinars here. I am learning tons. It does get quite confusing though when I run into a subject (like wholesaling and bird dogging) and there are such conflicting opinions. So I've been trying to sift through all of that. I'm also making use of Youtube and other blogs and ebooks that have been helpful. I listened to @Brandon Turner's The Book on Investing in Real Estate with No (and Low) Money Down twice and loved it. There are still some things I have questions about, but no doubt, I can probably find the answers here. Next up is Rewind. I'm just trying to get my school work and this real estate course done. 

Oh yeah, did I mention I'm in school finishing my degree? Only 13 more classes and I'll have my bachelors...23 years after the fact. LOL Advanced Statistics is kicking my butt but I'm loving International Business. But I digress....

I continue to go to seminars, meetings and even have been taking some Home Depot classes in repair and such (installing a toilet, laying tile, etc). I have a few coffee meetings with some people I met at different REIA meetings.

Now for the most important- money, funds, cash.

I have been checking out the job ads for any kind of real estate position that I can take without being required to have a license. It is insane here in Florida! Granted, I know I won't make what I was making as a contract recruiter, but it is dramatically lower....like $25-30 less per hour. So it has given me motivation to really sell my skills independently. 

I had started planning to do a consignment store online for plus size women but that fell to the wayside a few months back. I have revived the interest in that. I have some inventory to unload....the problem is, it's back at my home! So I have to make a trip back up there to get it. Or I can list them on my website and have my sister ship. Luckily I have the Excel spreadsheet and photos of all the inventory still on my computer and iPad. I also forgot I had 6 plus size wedding dresses I can sell but have been struggling with finding places that would want to buy outright and also brides who aren't looking for freebies and to pay under $100. It's tough out there!

I have just today applied to both Uber and Lyft (after reading another poster suggest to someone else). So I'm waiting on the application process to be complete. Problem is, I may run into difficulties because while my car is registered and insured and my license is current and valid, everything is registered back home and not in Florida. So I'm waiting on word back from both companies. 

Finally, I have been working on ways to approach real estate investors and smaller companies to offer my skills. I need to work on pricing for those and the marketing. Again, as I said in another post, from what I've been hearing many investors are not interested in additional expenses and see the things I do as added expenses. So now I'm working on changing that mindset. I'm researching the Florida market to see what I can fairly charge and be comfortable with.

So that's my update. No properties yet. I am looking though, even if I'm not yet in a position to buy. More to come.