Newish to real estate

[Matt Kemery]

Bigger Pockets,

Hello everyone! I'm excited to get started in pursuing my real estate career. A little background to me (I did post my LinkedIn profile below), I am a college student at Rutgers Camden entering my senior year this upcoming fall semester. I am very interested in learning more about the Philadelphia and South Jersey markets. Currently I'm analyzing Point Breeze, Fish town, Grays Ferry and University City markets for properties in REO status. It seems that a majority of these homes were purchased back in 2012-2014 for pennies on the dollar then rehabbed and flipped. I also noticed that a lot of developers are buying lots or blocks then building new construction using the tax abatement program from the city. I would really like to learn more and get involved in these areas or upcoming areas for flip properties to build cash for rentals.

The question I have is how could I get involved in these areas with little to no cash, being 21 years old and no actual flip/residential experience other than knowledge of area and from real estate courses/seminars?       

I would love to connect with any professionals in the industry! 

Thank you!

Please feel free to connect over LinedIn

[Michael Lee]

Hello and welcome to BP!  Local clubs will hopefully have people that are allready doing what you want to do.  You can ask The Chamber of Commerce and building officials and hopefully get some good information.  You could find and talk to an experienced real estate Agent. Education is very important and you can do a bunch here on BP.  Listen to the Podcasts, join the forums and read the blogs.  Just do what you like and hire out the rest.  Do not let any failure keep you down.  Just keep on going.  Find/Get Team members are that are experienced and willing to help you.  Know the market (s) your u select and know what is the best area for locations.  Always get insurance on the new property as soon as you close.  As soon as you can after closing you should change out the exterior door locks.  If the locks are still in good shape just install them at a future address.  Always do the numbers and try to look at them before you make an offer or at least have a clause added to the sales contract that will allow you some time ( usually 15 days ) to allow you to inspect the site and possibly back out of the deal without penalty above your earnest money.

I am 59 years old and I don't know what I want to be yet.  I went to college and got a business degree that emphasized real estate.  Since I was in Texas and planned on staying there I got a broker license without having to take anything extra.  I kept that license for about 30 years.  Regardless of what I had I felt more comfortable with the construction business.  I have been in the construction business since I was 17.  My father has been in the real estate sales business for about 40 years and he has taught me a little bit.  If you think that I can help you please contact me through BP at any time.  Good luck!