New member and my first question...

[Derek Epperson]

Hey everybody! New to the website and new to REI. I currently live in Lexington, KY and have been in sales for the last 17 yrs mostly in the pharmaceutical industry. That industry continues to evolve (not necessarily in a good way for salespeople) and I want to find a way to supplement my income now with the goal of doing it full-time.

Which leads me to my first question: I have some money I can invest to get started but not sure what avenue to pursue. My initial interest was flipping but as I learn more about wholesaling and buy and holds I'm intrigued by those prospects too.

Any suggestions from you seasoned veterans out there where a newbie with some cash to invest should start?

Thanks and look forward to some sage advice!

[John E.]

@Derek Epperson I'm not a seasoned investor, yet, but I'd definitely caution you on spending money right from the get go on houses. A friend and mentor from Texas once advised me to "learn how to invest with little to no money" before you use much money.

It seems that you have an interest in wholesaling and that's great. You should build up a pipeline of deals and wholesales can be a great way to make money and more importantly learn how to become a real estate marketer. The amount of money you have could be used to market to motivated, absentee, and high equity sellers by mailing out postcards or letters.

The good  leads you get from this will be a big help in your business and the key from what I've heard  (again, I'm just a newbie trying to help you in the best way I know how to!) is to repeatedly mail out letters because you won't get a trillion leads the first time around.

Stay active on this site, you've taken the first step by joining, but continual effort and action is key.

"The journey of a thousand miles begins with a single step."

~ Lao Tzu

Keep on keeping on!