Starting out in the field in TX (with some capitals)

[Chris Yang]

Hello BiggerPockets family!

I am thinking of getting into the real estate investment field in the next 6-12 months, as that was one of the reasons moving us from CA to TX last year. We currently live in Austin area, but we are also open to other MSAs in TX as I am seeing Austin getting too pricey. My near-term goal is to start out with BRRR and/or fix-flip models, while still working full-time. Ultimately, I'd like to resign from my engineering job and run RE business full-time.

Question I have is how to get my feet wet in this field, I know I shouldn't be focus on profit but gaining experience in the beginning. I have some capitals in hand (~300K) and own a house free and clear so potentially I am looking at ~500K if I cash-out from my current equity. 

The model itself is easy to understand but the hard part I foresee would be finding the deals, get to know good contractors for rehab. I imagine I should learn those stuff from a more experienced team.

Any advice on how to get started is appreciated!

[Cameron Tope]

Welcome Chris, 

Find someone at a local meetup that is doing what you want to do. Get some referrals and see what his/her reputation is from other investors in the area. Then find a way to add value to that investor, whether that's partnering on a deal or getting them coffee. 

Adding value will be your only way to cut through the crowd of other newbies. 

Also, don't go all in on your first deal. You'll most likely have a lot of learnings (and that's ok) so you don't want your first deal to be the only deal you can ever do. 

Best of luck!