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Updated almost 7 years ago on . Most recent reply

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Kyle Marchand
  • Magalia, CA
2
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Need help getting started

Kyle Marchand
  • Magalia, CA
Posted

Very new to real estate but trying to educate myself on real estate and everything it has to offer. My dad flipped a mobile just recently (sold in September) and I was supposed to be his partner on his next flipping deal, but we can't seem to find anything in the market and we've been looking for 6 months. I currently do not have a job as I wanted to dive head first into helping renovate the house and learn everything I can. But since we go through the bank, we can only get a house up to 160k and it already has to be livable, or else they won't lend the money.  My dad won't want to work with any investors, either.  I'm ready to get my first deal and don't want to wait any longer for the perfect deal to come up (could take another 6 months). Should I take matters into my own hands and try to get funding by myself? I'm willing to do anything to get my first house to remodel. But I'm not sure what step I should take to begin this journey. I was thinking of relocating to a different area and finding a job and an agent so I could start getting my own deals, but I don't know which move is the smartest for me right now.

Most Popular Reply

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Jay Helms
  • Rental Property Investor
  • Gulf Breeze, FL
733
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Jay Helms
  • Rental Property Investor
  • Gulf Breeze, FL
Replied
Originally posted by @Kyle Marchand:

Thanks @Jay Helms and @Derriel Cribbs for the input and advice. I definitely have the availability and hustle to want to get a deal done. With no income or previous experience, is it going to be hard to find an investor? And would you recommend locating to a different area that has more potential deals? Just still a little gun shy about what process i should take to initiate my first deal.  

Three things: (1) Focus on the market you know (2) really get to know your #s (3) start talking to everyone you know about your REI goals. Even if they are interested, ask them who else you should be talking with.

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