Green investor based in Atlanta • Intro and request for advice

Green investor based in Atlanta • Intro and request for advice

Member since 2022 · 6 posts · 0 votes

Hello!

After several months of watching videos from all the usual suspects I've finally got a pretty good overall idea of what my short and long term REI goals are, and I'm ready to take some action to get things moving. And just to give some background, I've been running my own marketing agency for the last 12 years and before that was a contractor for 7 years. I also grew up in the construction industry and worked in it for a very long time. And I have a good amount of formal sales training. So I have a pretty good foundation (pun intended) on much of the knowledge and skills I'll need in REI.

I want to walk away from the marketing business as soon as possible and make RE my only source of income.

GOALS, short and long term:
I want to start with wholesaling, first locally and then virtually. Then I want to add fix and flips, and then eventually buy and hold (multifamily). Ultimately I want to employ multiple strategies in my business.

So getting some wholesale deals under my belt is my first major target. Now we come to the part where I need some help from my new BP family. Here are a few questions:

1. How can I find a mentor? Local REIA?
2. Wholesaling education resources...books?
3. I am considering getting my license and working as an agent while I am starting my investing journey. Any thoughts on that (and does anyone else here do both)?

I have sooooo many questions but I recognize that I need to break out of the "analysis paralysis" and start taking action. So any help is greatly appreciated. Thank you in advance!

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  • Hersh ShahBusiness Member
    Realtor · Atlanta, GA · Member since 2016 · 117 posts · 78 votes
    3y

    Hey Nick!

    Few thoughts and things to consider:

    1) If you don't already own a home, buy one before you transition to doing anything else because of lending guidelines

    2) Wholesaling and flips are very much active. If you enjoy this, great. If you are looking to be more passive in comparison to your marketing gig, thats not the answer.

    3) Most larger brokerages (at least the KW offices in town) will not allow you to wholesale so you have to hang your license at a smaller brokerage. Most of these are not capable of helping you get into production and if you goal is to wholesale, then whats the point of getting your license? You are better off spending the time it takes to get a license doing something with wholesaling.

    Just my thoughts!

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  • Member since 2022 · 6 posts · 0 votes
    3y
    Quote from @Hersh Shah:

    Hey Nick!

    Few thoughts and things to consider:

    1) If you don't already own a home, buy one before you transition to doing anything else because of lending guidelines

    2) Wholesaling and flips are very much active. If you enjoy this, great. If you are looking to be more passive in comparison to your marketing gig, thats not the answer.

    3) Most larger brokerages (at least the KW offices in town) will not allow you to wholesale so you have to hang your license at a smaller brokerage. Most of these are not capable of helping you get into production and if you goal is to wholesale, then whats the point of getting your license? You are better off spending the time it takes to get a license doing something with wholesaling.

    Just my thoughts!


     Appreciate your response to #3. Responses for #1-2 aren't relevant, though. Thanks. 

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