New Realtor, New Investor

[Michael Anderson]

New Realtor no business, no money, no help. I’m itching to jump into investing. My plan is to get my first home in 2 yrs which I will house hack, after a year do another then move out of state acquire a property in a great location and Airbnb that home. In between that time I’d like to flip homes. I am losing my mind sitting on this plan because I have no funds. What can I do now?

[Jon Coleman]

@Michael Anderson

That is great that you've been able to research financing options and have a plan for pursuing the purchase. If you're looking for both experience and building your savings, you might consider connecting with people in your area who do flips/BRRRRs and offer to assist with unskilled labor. In David Greene's BRRRR book, he makes a recommendation to hire individuals for the parts of projects that can be done by unskilled labor as a way to keep costs low on rehabs. There may well be people in your area who would hire you to assist with those tasks. This could be a win-win as it would give you the combination of income/experience you seek and they'd have a highly motivated, hard worker for their renovation projects. While this wouldn't likely generate a large amount of money for you very quickly, it would be a great way to make headway on both of your goals at the same time. In addition to learning more about flips while doing work for them, they'd likely also be willing to help connect you with people in their network who could help you in your new career as a realtor.

Hopefully other folks on BP can share their insight and advice on wholesaling as well as finding success as a new real estate agent!