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Updated 6 months ago on . Most recent reply

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Theresa Hansen
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I'd like to hear from you if you had Zero REI experience starting out

Theresa Hansen
Posted

I'd like to hear from you only if you had Zero REI experience starting out and you are successful in Flipping, STR, or LTR. I am married but my husband is clearly not interested, or never thinks it's the right time, (market, elections, not enough time etc), honestly I think he's just afraid. I would like to do it anyway and I do have the funds (fully funded HELOC & cash). I have zero REI experience, but I do have an agent who is willing to help in some ways. I work full time (own my own business and can be somewhat flexible) and I am about 3 years from retirement. I'd like to hear from you if you started on your own, with no prior knowledge and have made it to the point where you are successful, and can support yourself, are enjoying it. What were your first steps? Where did you make connections to reputable, affordable contractors? (I think this is my biggest hurdle, in my mind anyway) I am both excited and a bit scared, but never let that stop me.

Any input is welcome. 

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,040
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28,047
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

Everyone starts out with zero experience.

Like many others, I read "Rich Dad, Poor Dad" then saved up some money and bought a property with zero experience or understanding. It worked, as it usually does. Real estate is a very forgiving investment platform.

Before the internet, most investors bought without any understanding of return on investment, cash-on-cash returns, or anything else. They saved up money, bought a nice house in a local neighborhood they believed in, they rented it out over and over again, and learned from their mistakes.

Don't make it so complicated. Do what the old-timers did and learn to do better as you grow.

  • Nathan Gesner
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The DIY Landlord Book
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