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Updated about 8 years ago on . Most recent reply
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Seeking Direction: Am I Blowing an Incredible Opportunity?
The first time I jumped into real estate was 2008 just in time for the crash. I had no capital and no experience. You can imagine how that ended...
Over the next few years I stepped back from real estate and built an interior design business which has been great, but my dream has always been to flip houses.
I want to create beautiful affordable homes where people can have something they never thought was possible. I've worked extremely hard to achieve this in interior design but at the end of the day, I have a bigger vision.
Through working with investors, clients, realtors, etc., I've created a rich network of wealth and knowledge that is all around me and now have a few investors willing to show me the ropes with rehabs which I know is an incredible opportunity. That is not lost on me.
Here's where I'm stuck. The investors I am loosely working with are not promising anything (which is fine). They've given me their flipping criteria and said if I find a deal and if the numbers work, we can do a deal. One of them wants me to find off market properties specifically because 'everyone has access to the MLS.'
Also, their flipping area is 2 hrs away from me and they want properties that are outside of the niche I want to eventually be in? Do I do it anyway to gain the knowledge and possibly a partnership?
I don't have all the capital I need to complete a flip but with having my own business, I know that hustle is an absolute. If I can work hard enough and smart enough, I think I can access the funds I'd need, but the education is priceless.
Also, for the investors I am willing to lend my design skills and bring an insane work ethic to the table to get a deal done.
Question: Are the stated issues above even "obstacles?" Do I need to shift my perspective? Do go I forward and find houses for them that may or may not result in a deal? Or do I utilize their mentorship but do a deal and break into my own niche? I don't know what to do and it's keeping me awake at night.
Suggestions?