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Updated over 2 years ago on . Most recent reply
RE Team advice needed
My wife and I will be getting a sum of money in the timeframe of April 2023 or so from an inheritance. We are wanting to start with a couple of flips then move to rentals to hold and generate cashflow. My question is in regards to timeframe - When should I start building my team up (lender, agent, contractors,...) Should I be looking and shopping around now to have them in place for when we are ready to actively invest?
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- Real Estate Broker
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Quote from @Account Closed:
My wife and I will be getting a sum of money in the timeframe of April 2023 or so from an inheritance. We are wanting to start with a couple of flips then move to rentals to hold and generate cashflow. My question is in regards to timeframe - When should I start building my team up (lender, agent, contractors,...) Should I be looking and shopping around now to have them in place for when we are ready to actively invest?
You could look for an agent now just to get on their list and have them start sending you properties in the style you'll be looking for. Then you can learn how to analyze them and practice. You can also talk to lenders. Explain where you'll be financially, what you hope to do, and they can explain what you may qualify for and maybe some suggestions on how you can better position yourself.
The next six months should be spent reading books, watching podcasts, and engaging in the forums to educate yourself on how to find deals, how to flip, how to manage long-term rentals, etc.
- Nathan Gesner
