Brand new to real estate investing.

[William Fields]

Hey my name is William out of Washington county Alabama. I’m looking into getting into real estate. I like the thought of single family homes,but in todays market I feel like I wanna go multi-family dwellings. Prices in my surrounding areas are relatively high. I was looking on the mls. 180K for a 3 bed 1 bath house.1050 sqft. It’s insane. 

[Michael Key]

Pro-Tip: Don't listen to realtors or brokers. They have an agenda.

You don't need to buy properties on the MLS. The key to your journey in real estate will be NETWORKING and RELATIONSHIPS with OTHER INVESTORS, not service providers. They have their place and utility. 

You don't need to get your first deal off the MLS. There are a lot of places to find great deals, off market, preforeclosure, probate, estate attorneys, wholesalers, auctions, etc.

Rule #1 Don't pay retail. 

You need to pick your niche and market and then focus on that, don't get shiny object syndrome and start networking to make connections and find deals. 

I'm in Boise and our market went to clown town. You can't get anything less than 400k here. And I had a probate deal brought to me through a connection that I put an offer in at 275k. I'll be able to plow 25k to bring it up to date and then list it at 475k.

Those don't come from agents, they come from relationships.

So I want to re-enforce this point, because it's not told to new investors. Relationships are the key to doing real estate. 

You can be in business FOR yourself, but don't be in business BY yourself.