Winchester, VA · Member since 2014 · 52 posts · 7 votes
Hey everybody!
My name is Ian Lockwood and I am completely new to the real estate world. I currently live in Denver, Colorado but my wife and I will be moving to Santa Fe, New Mexico on September 1st, 2014.
I have spent the last eight years training athletes for a career, however the last few years I have been longing for something with a better life/work balance. I've always been intrigued by real estate (while knowing zero about it) and after weighing many options I have decided to leave coaching and pursue real estate.
I am incredibly excited to start learning. I devoured "The Ultimate Beginner's Guide to Real Estate Investing" in one afternoon. I am looking to create a strong foundation of knowledge to move forward with.
I would also love to network with anybody in Santa, New Mexico.
Accountant · Santa Fe, NM · Member since 2014 · 9 posts · 2 votes
12y
Ian,
I live in Santa Fe and have some experience with rental properties. It would be cool to meet you once you move here. Looks like my wife and I are the same age as you. Send me a message when you get here.
Winchester, VA · Member since 2014 · 52 posts · 7 votes
12y
Nick,
I will definitely let you know when we are finally down in Santa Fe. I'd love to meet up.
Also, slightly related, we are going to be looking for a rental property to live in with a lease starting sometime in September, so if you know any landlords with open property around that time we would be very interested.
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.
Consider checking out HUD homes for small multi's owner occupied gets first crack.
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
12y
@Ian Lockwood Santa Fe is a different world both for living and for real estate, but I love it. I lived there about 10 years ago, and am currently in Denver. I've thought about moving back, or at least investing in some vacation rental properties down there. In my exploration I ran across Tony http://www.santaferealtor.com/ who is a local realtor, photographer and general good guy. He might be someone worth talking to. Property management is fairly regulated as well so depending on your strategy make sure you know the rules.
If you want to be a broker, getting in with one of the big firms and taking walk in clients would be my recommendation for getting started. The community is very transient but there's a lot of money coming through. I visit 3-4 times a year for a soak at Ten Thousand Waves and some good food, perhaps we can grab a beer up here or down there. Good luck!
Winchester, VA · Member since 2014 · 52 posts · 7 votes
12y
Thanks everybody for giving me some concrete info to work with.
@Paul Timmins - I've already read the Ultimate Beginners Guide and found it super exciting. Then when I got to the financing and money section I found it super overwhelming. Ha!
@Micki M. - We can definitely grab a beer sometime. I would love to hear about any suggestions you might have for somebody truly starting from square one in the real estate game. I know so little right now I'm not even sure what avenue I want to pursue. I figure working for a broker would be the best way to get my foot in the door and accelerate my learning curve. I will definitely try to connect with Tony Allegretti.
I'm curious, how would everybody suggest I approach brokers and real estate companies in Santa Fe. I'll be looking for an entry level position so that I can start to learn as much as possible. Are there certain jobs that lend themselves well to somebody in my shoes.
Having been a coach for the last eight years I really need to find a company willing to train somebody and I certainly wouldn't mind doing tedious, less desirable work. Is there a ideal way to approach real estate companies and convey this without seeming like a huge project to a possible employer.
Real Estate Broker · Triangle Area, NC · Member since 2012 · 587 posts · 214 votes
12y
Hey Ian welcome to Bigger Pockets! I think Paul hit on all the things I was gonna recommend so check those out and stay active on the forums. Good things will happen!