New to the industry and trying to COME OUT SWINGING!

[Nick Tolson]

Hello all,

I have been looking for a RE community ever since joining the industry back in late 2014 and I'm surprised I have just discovered this wonderful site. 

My journey (keeping it short): I got my CA Salespersons license in October 2014 as a "foot-in" and step to getting into development, and made my first transaction on a little condo in Playa Del Rey in February 2015. Shortly after, in May 2015, I got lucky and was offered a part-time job/apprenticeship with a small team of developers who have done a lot of business in the past 30+ years (built ~7,000 homes). I proved to them that I was hungry and they saw that I was serious about becoming a developer so they offered me a full time position earlier this year and are basically mentoring me to become a developer one day. They have bestowed upon me many responsibilities and trust me with a bit of business even though I am still so green. 

Recently, one of the associates brought up the idea of me finding my own small deal (single family house or 2-4 unit building; I'm assuming they'd be willing to put $1-3mil total in if it pens out favorably)  to take from beginning to end - funded by them -  and taking a good amount of the profit.

As much as I've learned in the past year, I still have minimal knowledge on how to take a project from beginning to end. Additionally, our team is very small, and very busy, (5 person firm) so they don't necessarily hold my hand on a day to day basis but are as available as they can be.

My hope is to gain some insight/knowledge from you all who've either done this before or can point me in the right direction.

My goal is to come out of this deal in 1.5-2.5 years with a beautifully done 1st project that will jump start my personal track record. I realize that there is a TON to learn and go through with even getting a single family home built, so I definitely don't want to bite off more than I can chew, but I am a fast learner and will have support; I know it's all a process.

With that being said, what are your suggestions? Where should I start?

Thanks in advance for the input and help!

[Jay Hinrichs]

@Nick Tolson  stick to your group... read what you can, but stay put.. let them help you through this.

Bp is great but you need CA state specific and LA specific knowledge.