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Updated about 9 years ago on . Most recent reply
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- Flipper/Rehabber
- Wilton, CT
- 4,037
- Votes |
- 4,752
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How do I JUST START!!
All,
I have been reading many of your "How do I start" topics. Please allow me to squeeze mine in, as I am really struggling and I just cant even understand why I cant just get up and do it.
A bit of background. My entire career I have beeing in the research sector (NASA robotics). I received an offer in private sector that was very decent. (9K a month after taxes). The problem is.. I HATE THIS JOB!!!!!!
I have always been into real estate and my motivation is freedom. I love traveling and exploring the world. Now you spend 8 hours a day in a building. 30 minutes driving to and from that building, 1 hour getting ready to drive to that building and 1 hour relaxing after you come home from that damn building and 8 hours of sleep, leaves not much to have a life.
So there is my motivation.
Now. In my situation able to put away about 6K to 7K towards savings a month can anyone suggest what I am doing wrong, how you would go about it?
As for my story, I did the reading, the yearning, the self pep talks.
I have made my lists of what to do.. but I do not get it. I just can not start. No matter how much I read I just don't know how to start.
Is there a real step by step process that does not skip anything nor assume that you know something?
I think wholesaling is the way to go for me for now.
I am trying making my website (to attract sellers buyers lenders). LLC? Does it matter? Is it needed? /adviced?
Then what? Am I ready and prepared to do this? If so why do I sily not know w hat to do even when I have read every article about it.
SO my question for you all is. What do I do now?
example:
here is what I would do:
1) find lenders
2 find buyers
3) set up contracts? get the infrastructure in place? (what ever that means)
4) find sellers.
Does this sound like a good action plan?
One very important last thing!
THANK you so much!
- Jerryll Noorden
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Most Popular Reply
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so wholesaling is a good way to build a capital stack, but will not provide you with the freedom you desire. you need cashflow. wholesaling is a good place to start for most, but it contains a lot of work. It will basically be a second job. with the money you have you need to decide what you really want to do. if you really do want to wholesale, your main priority should be finding motivated sellers. spend 99% of your time on that. setting up an entity takes 10 minutes. the rest will fall into place. buyers are all over the place, and i recommend finding a mentor at a local reia. i dont know what your family living situation is, but my recommendation is to move into a 4plex as soon as possible. then focus on buying multifamily and apartment buildings and building passive income so you can replace you job