Beginning blind RE Agent/Investor Discouraged

[Account Closed]

I am now turning to BP, you all, as my last resort though I'm not entirely sure how that will turn out.

After spending many years reading, learning, I'm taking action, my RE license will be valid soon, and I will begin my investing endeavors as I've planned...but there is one problem.

Every investor I've talked to, whom I've tried to set up win-win mentorship deals, "I give you half my profit if you show me what to do." kind of thing. To no avail. They all either want $500 an hour for advice, or want me to give them my entire savings, or want the profit 100% since they are the one showing me what to do. The overall impression I get so far from the industry is an atrocious amount of greed and unethical business practice. I'm extremely discouraged and I am afraid and quitting before I get started.

I am turning to Bigger Pockets for support on my route and starting my investing and business endeavors.

Quick facts that will help you give better responses:

• I am 24 and married. Wife will be doing this with me as I am legally blind and do not drive. She will be driving. I have no peripheral vision. My central vision is fine, I can still see properties, paperwork, movies, etc.
• My home and cars are owned, not financed.
• My credit score is 830
• I have no debt.
• I have some savings but prefer not to use it till I can close on a deal to make sure this really will work in my market.

Thanks for any and all your help

[Taylor Shapiro]

Hey @Account Closed

I think many beginners can empathize with feeling discouraged with their initial lack of progress. I was there not too long ago. Here is what I did to get through it. Hopefully something from my journey will help.

I ended up getting the opportunity to work with a local investor. He posted an ad on craigslist looking for help. I sent him a message and long story short, I ended up telling him I'd work for free if he mentored me. He accepted.

We worked together for about 8 months. During that time I experienced the full renovation of 3 separate single family homes. From looking through the property while it was listed on the MLS, to him pulling comps, sending in his offer, the offer being accepted, to demoing the interior, redoing bathrooms, master bedrooms, kitchens, paint, drywall, all of it.

3 houses is not much experience but I have a much greater understanding of what goes into rehabbing houses now. Much more than I did before meeting my mentor.

So I got some experience. Great. I signed up for RE classes next. 2 weeks down out of 10. 8 more to go. I'll most likely hang my license under his brokerage being that he understands why I'm getting it in the first place- control. I'll make my own offers. I'll study my own markets.

This confidence and experience led me to talking with a few high net worth individuals who I've cultivated relationships with for the past coupe of years. I told them my plans, told them what I'd need in order to get the ball rolling, how we can help each other out and ultimately got a verbal "let's do this" from 2 of them. Exciting for sure, but i'll be excited once the money's in my hand.

I bought J Scott's rehabbing books. It's keeping my mind fresh when it comes to the essential process of rehabbing a SFR. What comes first, then what, etc. He explains how to come up with a scope of work and EVERYTHING else you need to know. So, I call up paint guys, siding guys, handymen, plumbers, electricians, all of them, and start asking them about their prices. 3 quotes for each trade. This gives me an idea for labor and parts costs, i.e. my rehab budget.

So after 9 months of taking the plunge into RE, I've worked with a successful investor, I'm getting my RE license which allows me to put in my own offers, I have private $ lined up, pricing for repairs figured out, and a handful of towns i've begun looking into for rehab deals.

You may not "get lucky" like me and be able to work one on one with a mentor in your area, but don't let that stop you. Ask questions here. Dozens of people here are doing exactly what you're interested in doing. Get a solid base knowledge. Go to REIAs, when you find someone who knows what they're talking about, offer to help! Work for free! Gain knowledge and experience then take a step back and assess what you know. Be honest with yourself. Don;t know pricing? Cool, whip out the phone book, hop on CL and start calling contractors. Do what you gotta do man, no one's gonna do it for you. It's gonna be uncomfortable but it is what it is. Remember your why and fill in the gaps with actions that will get you the answers you need in order to take the next step forward.

Everyone started scared, uncertain, and discouraged. Baby steps. One thing at a time. My classes end November 6th. Until then, I'm on zillow, searching for good areas to rehab in. In 2 months, I'll have a better understanding to begin putting in offers. I guess what I'm trying to say is I wouldn't be able to do that if I let the discouragement get to me in the beginning and force me to quit.

You're young. You have plenty of time to learn. Sure it's difficult in the beginning, but what are you gonna do? Let the years pass, knowing you coulda put in the time learning something that could benefit you greatly in your future?

Stick around the forums. Ask questions.