How I've decided to get started

[Brad Ruttenberg]

Hey everyone. I thought it would be helpful to document my thought process as I start in real estate investing...mainly for myself but maybe it will help others somehow. Learn from my mistakes, but hopefully my successes too. I'm certainly open to any and all tips as well. 

So to jump in head first, after cramming as many REI concepts and experiences into my skull as possible, I've concluded that the underlying skill needed is finding deals, analyzing them and negotiating. This is where I'm starting.

I've been "driving for dollars" with nothing but a pen and paper. I'm looking up the property records on our property appraiser's sight to look for signs of distressed, absentee owners, probate, etc. I don't want to get into any apps as of yet., but I have my eye on a few. I want to hone in and develop my "instincts" for a good deal and learn how to research and identify an opportunity.

Because I know in the current market, it's important to be able to find deals off market. I'm going to invest in a "yellow letter" campaign with someone I found here on BP. From what I can see, in almost every successful story I've heard, it's a numbers game. Get your eyes on as many potential deals and talk to as many people as you can. As I see it, that's how you create success. I know some have scored big on their first deal, but I'm not going to plan on that kind of luck. 

I've already developed a relationship (connected with) a hard money lender to discuss their options and how I can find my entry point. I have others that are appraisers who've been looking to get into REI but haven't had the "guts" to get into it. Maybe if I can bring the deal, they'll bring some capital in a JV.

I've signed up to "bird dog" with a local investor and hope to bring him some deals and see how deals transpire through that to see how the pros do it. I want to start with some wholesaling with the goal of identifying properties that I can dive into myself after a while, hopefully through a JV, but not required.

This is where I am today. I want to develop a relationship with a realtor and a contractor (of which I've gotten some names already) to build out a team, but first things first.