Newbie on the block and I need your advice!

[Shannon Webb]

Hi everyone! My name is Shannon Webb and I have been wanting to get into real estate since I graduated high school in 2006. I have this outlandish dream of owning several high occupancy apartment complexes around the country one day, and I don't feel as though I will be able to consider myself successful, until I have at least one. The problem was that I had no one around me who thought it was a good idea and have essentially pushed me into every other direction I could possibly be pushed into. not being truly successful in any of the endeavors I have taken on, I believe that it is finally time that I follow my heart and get into something I have a passion for.

It's deeper than just the idea of buying and selling houses, or even acquiring properties and renting them out. For me it's the creative aspects and nature of design that peak my interest. Renovating and making something out of nothing. For my name to be on a house or apartment complex, i want people to know the quality and attention to detail put into any of my properties. I want them to trust my name and want to buy solely because of it. I want to allow my work to put smiles on the people faces who will buy/rent from me. I want to help them feel comfortable in a new space, and to know i can assist with that puts a smile on my face.

But here is the thing. Now that i am ready to jump into this pond, I'm not quite sure as to where to start. I have very little money and with being a single mother I live paycheck to paycheck. I will be attending my local community college this summer for construction management because I believe it will give me a solid foundation of the information i need to know as far as that aspect is concerned... But, what next?I've been considering wholesaling but have no connections in my area for real estate. Mind you, I live in a town called Statesboro, Ga. This is home to Georgia Southern University and is growing every year. I believe I can start out here but with no money, pitiful credit and no connections for mentors, where do I go from here!? 

Thanks so much for reading, any input would be GREATLY appreciated!

Yours truly,

A nervous yet excited Shannon Webb

[Marc Goffaux]

Hi Shannon,

This is very exciting as it clearly sounds like you have the mindset and excitement to really delve into real estate and get started. While I cannot imagine precisely how overwhelmed you are by being a single-mother and having a job, as a full-time student with two part-time jobs I can relate to a busy person's attempt at squeezing real estate investment into our complicated schedules. As to how and where to start, here are a few tips I think will help shed some light on the topic and how to approach it (ill try to keep it as short and sweet as possible):

1. Audiobooks/Podcasts: being very busy I understand it can be hard to find time to learn more about real estate. However, you always want to keep a good flow of new information coming in to become as knowledgeable as possible. Consider listening to audiobooks or podcasts (especially the ones from BiggerPockets!) when you are driving, cooking, working out, doing laundry, all sorts of house chores, etc. Podcasts you get for free from iTunes, and audiobooks are quite inexpensive at audible.com. Just put the audio in your MP3 or a CD and listen away! Overtime it definitely pays off even having 15 minutes of informational audios every day.

2. Find a Real Estate Association: When it comes to investing and real estate (and in my opinion, pretty much any other industry) we are in a people's industry. A simple google search should help you find some sort of real estate investing association in your region where you can meet up with other fellow investors and ask/learn about the topic. While in my case I found a conference to attend in my region that might be considered expensive, they are totally worth it! (However, do your homework to make sure you are getting into a legit and good association worthy of your precious time).

3. Just do it: when it comes to Real Estate investing you really want to join what you read and learn with being hands on. Call a real estate agent, go see properties, ask questions... You want to be curious and straightforward without being afraid of sounding stupid. This may sound silly, but people generally have that fear and they accept the myth that you have to be 100% knowledgeable, highly savvy and rich to do real estate investing. But to get there, you have to stumble, make mistakes, and learn. So really go out there and learn, and make sure to do your homework so you are keen to know what you learned is actually valuable and applicable.

4. Choose your niche: this website is an amazing and highly reliable database of thousands and thousands of articles on absolutely every possible topic in real estate. Try and read and understand them all and you will get overwhelmed quite quickly. Instead, choose something that you have a natural interest for an focus on it. When you understand it well enough, consider expanding your areas. Take me for example, I decided to focus on 1-bedroom apartments and one specific neighborhood of a neighboring city of where I live. Understand the region and the specifics of the type of property you are planning to deal with. This way you narrow down the information you need to learn, and the questions you need to ask.

Talking about being overwhelmed, I do not want to say too much to overwhelm you in one post either. I hope it helps to give a more broad idea of where you want to look for ideas and things to do. If you want to discuss these ideas further don't hesitate to message me.

Stay focused and excited like this, and greatness will be upon you! :)

Best,

Marc G.