I don't feel like I'm being take seriously

[William Nestlehutt]

Hello all,

Hope everyone is doing well! This is my first post here. I guess I should give some background on myself.

I've been listening to the BP podcast for years, read most (there are so many on my list) of the recommended books and tons of other research. I don't have a mentor or know anyone personally that is investing in real estate yet (Pandemic ruled out meetups for me). I'm 30, engaged, have a great job in the tv / film industry in Los Angeles, good credit, and have about $30k I'm looking to invest if needed (though not the preferred option). My fiancee also has a good job and great credit. We are both debt free except for our student loans (feels like we'll never be rid of those...). We are looking to buy a house (modified house hack) here in Los Angeles towards the end of the year after the wedding.

I'm looking to invest in out of state rental properties or to fix and flip (at least the first one or 2). I have been looking in the central Arkansas area where I have family and have personally spent a lot of time there so I have a better idea of the neighborhoods vs picking somewhere random on a map that we can afford. Looking to buy under $100k. I've recently started calling real estate companies looking for Agents who invest themselves or have at least worked with real estate investors a decent amount. Because this is my first investment property I feel like I am not being taken seriously, and am usually pawned off on the new guy which is especially frustrating because I'm looking to get started on this ASAP. Someone who will work with me even if they need to show me the ropes a bit. I want to do this before I have a Los Angeles mortgage and a family and can't take (calculated) risks with my money as much as I can now.

I guess I'm looking for any advice, as I know I can't be the only one who felt this way when they started, especially from people investing in this central Arkansas area (or Georgia). Any recommendations of property managers or real estate agents who follow through when they say they are going to do something. Any agents themselves in this area. Or anyone looking to mentor a new out of state investor. The latter being the preferred choice!

Sorry, I know this is long but if you made it through, I look forward to hearing your thoughts!

[Ryan Blackstone]

Hey @William Nestlehutt I am a local agent and investor in NWA. We work with a ton of investors and will close 25 million in real estate volume this year. I wouldn't "discount" the new agents if they are connected with the right team. For example I have two "new" agents on my team who just got in the business, and now know more about investing than 95% of all experienced agents out there through training. Just like you, you have read and listened to so many podcasts, that you don't want the agents to discount you for being a first time investor.

I will say, in NWA it is just a crazy hot market and it is hard to find the deals unless you are cold calling for them yourself. And do that, you have to call 600 instead of 100 now. So, those agents just may not have any deals for you. Now, I have 3 potential solutions for you. 

1. Just talk to 100 agents get their name and numbers tell them what you are looking for and tell them to call you when you have a deal. Then, follow up with them every month or 2 weeks to show them that you are serious and ready to move. With that said make sure you give them a pre-qual letter from a bank saying you can purchase. I always love and know when an investor is serious when they can tell me exactly what that first deal is, (i.e. single family, one story, 1% rule.. etc) if they just say bring me a deal, then I know they won't pull the trigger. 

2. Start prospecting for off market deals yourself. I have a first time investor here that just bought this second deal. He didn't have more time, so he sent out postcards. He spent $5,000 on the postcards, and got one deal out of it. That deal will make him 30k-40k. Now, I helped coach him through it it and was there as a sounding board. I will now get to list his flip when he sells it. 

3. I HIGHLY encourage you to reconsider investing in where you live. House-Hacking a duplex is going to be the best return on your money! @Jon Schwartz is a great great guy to connect with in your area to do that. He is like a year into his house hack, and a guy that know real estate investing. He recently got his license, but again, don't discount him for that. It's hard for me to say, but I am pretty postitive he knows the numbers better than I do. You should watch his house-hack video Click here.