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Updated about 15 years ago,
RE Investing career strategy
I'm new to the RE investing world after spending most of my life in the film industry and I'm looking to make the switch. I just spoke with one of my mentors and he suggested I start off by targeting a good and relatively cheap up and coming neighborhood and become a RE agent. Then, when I begin to learn what makes a good deal in my targeted area I can begin searching for investors and go in with them. He said I ought to start small and look to make quick one year flips (for the lower capital gains tax) with properties that require only basic changes. After I have a couple of small flips under my belt and some investor backing he suggested I could scale up to bigger flips or move on to buy and holds.
Any thoughts or suggestions on this strategy? From previous threads I know some people are very wary of obtaining a RE license, but in this situation could it be a viable option?