Best way to get started

[Pete Storseth]

I want to pick one of three ways to get into buy and hold, seller finance, and fulfill my big picture goals.

My niche will be BRRRR with the intent of finding tenants open to buying via owner finance at some point, in order to get out if full time landlording multiple properties, but still have cash flow.

Option 1, pay for coaching to get properly trained on finding off market deals subject to and seller financing. Regardless of whether anyone agrees with paying a coach, these are strategies that require alot of support.

Option 2, get my realtors license and use the first 2 commissions to finance my deals, use the MLS to find seller finance deals along the way. This is a more traditional education, but along with the research and development I've had recently in creative real estate, it could he best of both worlds.

Option 3, niche down to a specific marketing strategy and find a partner. This one will have a timeline. It's a less structured approach, with more uncertainty and less support. It's also the option with the least clarity to my goal. However, it's the least expensive choice.

[Jonathan Bombaci]

Option 2: that's pretty much what I did. 

I had 2 househacks under my belt when I got my real estate license and helped a few newbie investors and realized I knew more than most "experienced" agents about multi-families and investment properties since I owned 2. I used that knowledge, and the commissions from my closings, to buy 24 units with my wife in a 18 month period which pushed us into "Lean FI". 

I'm actually in the process of working on a grid (attached is a draft) to show how someone can go from $0 in net worth to $1M in networth in just 5 years if they became a a part-time real estate agent and re-invested the commissions in decent investment properties.