Where to start when you have money, time and energy

Question

Hello,

I want to start investing in real estate.

What I have: Money (2m+), time (8 hours a day), an excellent credit score (eligible for financing), energy, no or small experience in real estate, but experience in business, especially e-commerce.

Where to start?

I am about to get a real estate license and become an agent, but not sure if I need it, because I am more interested in investing rather than building a real estate career. I am going to attend a seminar in San Diego this year, but what else I can do?

Maybe you can suggest particular courses or coaching for real estate investing, tools or blueprints on how to analyze deals, and how to understand which reals estate niche and strategy to choose.

Any advice will be appreciated 🙏

Best, Ellie.

Eleonora Grynivetskaya · Answer

Thanks for your answer. It helps a lot. I just found REIA in my area and contacted them.

Brandon Rush · Answer

Hey Eleonora,If I were you, I would skip being a real estate agent. It will put you into a different mindset and it's not easy to switch between the investor mindset and the agent mindset, especially when you are looking for deals to take down yourself. While you may have the capital, it sounds like you are lacking the experience. With that much money at play, be careful as you could end up in a world of hurt from making one mistake. Here are a few options for you:1. Attend some local real estate meetups and start networking. Maybe your city has a REIA? (You should look into it) See what others are doing and where you could potentially bring value to others. Since you have the capital, find someone who doesn't', and partner up. It does not even have to be a super large deal.2. Join a mastermind community. I myself did this over a year ago and it makes a word of a difference vs you trying to figure everything out on your own. The community is intended to be a group you can go to for guidance, support and also for partners. The mastermind I am a part of is called the W2Capitalist. It's geared towards investors in the beginning part of their journey. If that's something you would be interested in, message me. 3. Hire a coach/mentor. It may take some work to find one, but this is also a great idea. This route would be good if you had a specific goal in mind. If you are looking to "just get started", I would recommend you start with #1 on this list. Good luck!

Cody L. · Answer

Maybe partner on a deal with someone that has done it before? You could find a $10m property that would take ~$3m down. You each pitch in $1.5m. Learn the ins-outs. If you buy right, you could sell/refi later to get your capital back and then find a deal on your own.

John McKee · Answer

It sounds like passive income is not your thing and you want to be a part of something bigger where you are more involved. I would suggest to go out and find partners and maybe even start your own team. Come up with a strategy/investment type and go after that. I also agree that licensing is a waste of time. Meet with as many people as you can and listen to real estate podcasts to help you hone in on your strategy. Good Luck and feel free to PM

Michael K Gallagher · Answer

@Eleonora Grynivetskaya Welcome to BP! and Damn what an exciting position to be in. My first instinct is that you are uniquely positioned to scale quickly given your capitol, but it could also leave you open to larger risk as well. But to your point if you understand how business works you are going to have a leg up on any other new-by investors. I am a part of Jason Drees Coaching and the mindset academy, so if you are looking for a community to join or some coaching on mindset/growth regardless of the industry I can't say enough good things about what they have to offer there.Other than that I'd say to spend a good amount of time and energy on defining what your investment criteria and goals are. You've got the capitol already so you can take a deal down as soon as you want to, so the decision is going to be the difficult part, so prior to even looking taking the time to define what a good deal or what a good return is for you, will help you immensely when it comes time to pull the trigger. And just some unsolicited advice, I'd skip over all the single family, duplex, quad, kinda stuff and go straight into commercial, or NNN deals. With your capitol and your understanding of business you are going to understand the relationship in commercial way better than all the Tennent stuff we get into in multifamily and single family. Skip all that and go straight to the big commercial deals, maybe join the CRE circle and the training that AJ Osbourne and investor girl brit are getting into over there?

Eleonora Grynivetskaya · Answer

Thank you for your advice. I really appreciate it. Regarding the mindset academy, thanks for the invitation but I am already in a few business clubs, and I am not looking to switch them for now. I specifically need an industry mastermind group or industry coaching. Thank you for mentioning commercials, I have access to them, but it is more passive investing, I want to be a part of a team who makes decisions and have control over investments. I consider it as diversification. Thanks for the CRE circle and AJ Osbourne. I will google it.