Needing guidance starting out in these crazy times

[Jason Kenyon]

Hello, we started an LLC got the EIN # and then the business bank account, had trouble getting institutional lending, the Important question is, what way would you recommend if you were starting out with limited capital plus in this hectic current market with rising interest rates only getting worse? Would you start with? Wholesaling and then something else or another way, possibly faster with a loan? Either fix and flip loan or other?

Thank you a million!

[Marty Boardman]

Congrats Jason on taking the plunge in RE investing!

First of all, these are not crazy times. The market is not crazy, it's just the market. This kind of thinking is what keeps people on the sidelines. There is never a wrong time to invest in real estate, only a wrong way.

Your mindset should be "there are some incredible opportunities available right now with the right strategy".

Second, starting an LLC, getting an EIN, business cards, websites...all this stuff is just getting ready to get ready. It would be like starting a medical clinic without learning to become a doctor first. How can you diagnose a patient without proper training? Learn to be a real estate investor first, that is your top priority. You can sort all the other details out later.

Finally, what is your income goal? How much money do you want to make doing this? Are you looking for passive income per month/year? Do you want to quit your job to flip houses full-time? If this is the case how many houses do you need to flip per month/year to cover your expenses?