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Updated almost 10 years ago on . Most recent reply
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Best Thing I've Done as a Newbie
I wanted to take the time to write this post because I think it can and will help other new real estate investors. The best thing I've done as a new real estate investor is to work for an experienced investor. I started this journey about 8 months ago when I thought I wanted to be a real estate agent like the guys on Million Dollar Listing lol. I decided to get my license because I knew it couldn't hurt me and sitting in that class would be the foundation of learning the laws and the basics of real estate.
When I found BP I went on a binge of the podcasts specifically looking for people who were in my market and were successful. I came across episode 50 and the shiny bright lightbulb in my head went off. I wanted to do exactly what this guy was doing and the way he was doing it. (If you want to know who he is go back and listen to episode 50 lol).
Long story short I reached out this successful investor for a meeting. He met me we talked and I offered to assist him for free in exchange for an opportunity to learn. I helped him for a few weeks and he decided to change his business and asked me to work for him and I still would get a chance to learn. So far the experience has been invaluable, I'm not only learning about the business from an investor's standpoint but I'm also learning how to run and scale a business. This type of experience is better than any "guru" program that you can pay for.
If you're new and hungry I highly suggest you find someone in your market who's doing what you want to do and try this. Any successful investor knows that in order to be even more successful they have to scale their business. Who knows maybe they are waiting for someone like you to reach out to them, you may be exactly what they need. Good luck !
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Originally posted by @Account Closed:
congrats. that is exactly what I am doing in my city. My mentor charges me nothing. I learn how to invest in 50k distressed houses and make 12%+ cap rates with no maintenance, and he makes money off houses I buy from him. And I also help him with various REI tasks. Its a great way to learn and I am glad it is working for you too!!!!
Joe, you post remarks like this so often that I wonder if the posting itself is one of the "various REI tasks" you do to help your mentor.