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Updated almost 5 years ago on . Most recent reply

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3
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2
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Rachel Wood
  • New to Real Estate
  • Warrensburg, MO
2
Votes |
3
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Starting Out With Nothing...How Do We Start?

Rachel Wood
  • New to Real Estate
  • Warrensburg, MO
Posted

My husband and I want to get started in real-estate.  We would like to eventually own rental properties, flip houses, and maybe do some wholesaling.  Here is our dilemma:  We only have a VERY basic knowledge of fixing up houses (painting, some drywall...etc), we have zero ability at the moment to get a home loan (because my husband recently started a commission-paying job), we don't know of any investors...and even if we did, we don't know if they'd be willing to invest with us because we don't know what we're doing.

So, how do we get started?  Do we need to take some time to learn all the ins and outs, or do we jump in feet first and learn as we go?  We are 36, have 6 kids, have not been very smart with money until recently, and want to become financially independent asap!  We live in Central Missouri, if that makes any difference.

Most Popular Reply

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34
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25
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Will Pieper
  • Realtor
  • Columbia, MO
25
Votes |
34
Posts
Will Pieper
  • Realtor
  • Columbia, MO
Replied

Columbia, MO investor here! There is definitely opportunity around here but financial independence doesn’t happen over night. I began investing two years ago with a partner and it has gone well so far. I find the properties, figure out financing, and work numbers, and he estimates repair costs and manages subs. If you don’t want to learn or don’t have time to learn, it’s usually best to partner with someone who has the skills you don’t. You do end up losing some of your gains but if you pay attention, you can eventually learn from them and operate more independently in the future.

A good place to start is saving money, educating yourself and getting a plan together. Next find your local rockstars: Realtor, property managers, contractors, and banks. All these people will have perspectives and information for you.


We started with limited experience and funding but we have learned a ton over the past few years. We first bought 2 duplexes; we have since done 3 flips and own 7 properties with a total of 10 doors. Feel free to reach out to me if you want to talk about it sometime! I would be happy to talk about my experiences with you and give you pointers.

Will

  • Will Pieper

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