Crowd Interview: Your Best Tips for Getting Started in REI!

[Hannah Drake]

TLDR: I'm currently taking a "guru masterclass" and am super interested in the REI space. BUT. I don't know how much of this "master class" is really just a big marketing scheme to buy into some other program/coaching. So folks - tell me your quick and dirty advice on getting into REI.

Background: I'm thinking of attempting to wholesale to raise capital (and networking to see if I can conjure OPM) and then BRRRR. I've had good luck accidentally in the past with real estate - long story but I was a landlord for a bit (rented somewhere while renting out my condo then sold it for a pretty nice profit) & my mother ended up in a multi-family that she rehabbed and sold mainly because she likes improving things, and she just did the same thing with her current home - call us accidental investors ;)

Anyway I love the idea of taking this accidental investing and doing it right and better. But I want to get a survey response from y'all of "real life" advice, not guru advice with the interest of selling a much more expensive mentorship or network buy-in etc. I've been a marketing director for several years so I'm fairly confident in my abilities here.

Starter newb questions: Do I actually need a real estate license? Is there an example P&S I can see for a wholesale? South Carolina's is 8 pages long and intimidating - and I don't see the clause to exit if an end-buyer isn't secured within the 30 days, etc. Nor do I see where the "option money" this guru told me about is written in - she suggested $10 cash for the option and $500 earnest on a wholesale. 70% rule, etc. How does one find investor-friendly title companies? How does one find a good contractor until you can estimate repairs yourself?