New to Real Estate · West Palm Beach, FL · Member since 2024 · 1 post · 2 votes
Hello,
My name is Carl Conley, and I am new to real estate investing. I currently do not own any properties but would love to begin my investment journey. I currently work for a general contractor in West Palm Beach, Florida. I would like to invest in the West Palm Beach/Jupiter area. I have worked with many property owners in the past and assisted with renovating and flipping many houses. I have experience in both the commercial and residential sides of construction.
With my knowledge of construction, I am looking to invest in a property that needs work. I would love to begin my real estate investing journey with a house hack, and I am willing and capable of fixing up a property myself or managing the work that I will not self-perform. Please do not hesitate to reach out if you know anyone in the area to connect with or if you have any advice on how to get started. I am always eager to learn.
From my experience, investors with construction backgrounds have a great leg up in this business. There's are a lot of things to start thinking about: how are you going to fund these deals? Are you able to pay cash or work with a hard money lender? That way you can connect with wholesalers that can bring you exclusive deals at a discounted price. How much of a project are you willing to take on? How do you plan on running your numbers based on what profit you're looking for? Very exciting!! Best of luck to you.
If you are already familiar with the construction side of things, real estate investment might seem easier for you :)
Start with the BP podcast sessions, I learned lot from those sessions when I got started. Keep in open mind, take care of your tenants and solve one problem at a time - those are the few tips I can give you as you are getting started. Happy to be connected with fellow BP members.
Carl, you are in a great position to start investing, especially with your background in construction. Being able to evaluate rehab costs, manage renovations, and understand the process gives you a huge advantage when looking for deals.
Since you are in West Palm Beach and Jupiter, house hacking is a great way to start. If you have not already, I would look into FHA or VA loans if you qualify, since they allow you to buy a duplex, triplex, or fourplex with a low down payment. Even a single-family home with a legal additional living unit could work if you can find the right property.
Because you want a property that needs work, I would be careful not to take on something that is too distressed. A light to moderate fixer-upper can be great for adding value, but if you go too heavy on repairs, it can quickly turn into a full-time job and delay your ability to house hack and start generating rental income.
The ideal scenario would be finding a property that was last renovated between 2005 and 2019—something that is livable but could be updated to 2025 standards for maximum rent and resale value. Another good angle is looking for long-term rental properties with below-market rents, where you can upgrade and increase rents gradually as leases expire.
Now would also be a great time to start connecting with investor-friendly real estate agents, wholesalers, and lenders in your area. The right team can help you find the best deals, run the numbers, and negotiate smart terms so you set yourself up for long-term success. And remember, commissions are always negotiable, so you can find the right agent and agree to terms that work for your needs.
Your construction experience already gives you an edge—now it is just about finding the right deal. Keep networking, looking at numbers, and staying consistent, and you will land the right property before you know it.
Good luck, and keep us posted on your first deal.
Disclaimer: I am a licensed real estate broker associate in Florida, but I am not an attorney, CPA, or financial advisor. The information shared is based on my experience and industry knowledge and should not be considered legal, tax, or financial advice. Always consult with a qualified professional before making any real estate investment decisions.
From my experience, investors with construction backgrounds have a great leg up in this business. There's are a lot of things to start thinking about: how are you going to fund these deals? Are you able to pay cash or work with a hard money lender? That way you can connect with wholesalers that can bring you exclusive deals at a discounted price. How much of a project are you willing to take on? How do you plan on running your numbers based on what profit you're looking for? Very exciting!! Best of luck to you.
Congrats on getting started, that is the biggest hurdle. I would recommend checking out local meetups like REIAs and try to find some wholesalers. Check their numbers, and when you find someone bringing you deals that are priced accurately then take action! "Action cures fear" is my favorite line from The Magic of Thinking Big, and that should be why you are in real estate! Think big, and let us know what help you need.