Just Starting--Suwanee Georgia

[Nadine Hylton]

Good morning guys,

I am very new to REI. I live in the burbs of Atlanta and my husband and I would like to get started in REI anywhere in the Atlanta Metro. I am a practicing physician and my husband just got his real estate license and we want to get off to a good start. I realize that a license is not necessary for a lot of the investing deals, but we figured the knowledge cant hurt and we want to diversify our position in real estate, exploring many avenues. Unfortunately, we had a really bad business deal last year that wiped us out (don't do business with friends and family) so now we have to start over with little resources. I get the impression its best to start with wholesaling deals since we have little money. Is that true?

Real estate has always been an interest of ours, so this is the natural next step. I would love to connect with anyone working locally who is willing to share their knowledge and/or work with a newbie. So far, Ive gathered info about the local REIA groups and meetups, been reading this site and listening to the podcasts voraciously. We would love to find mentors (virtual or real life) to get us off onto a good start.

We live in South Forsyth county and are interested in properties to wholesale (anywhere in Atlanta Metro) and some l, lower cost rental units in forsyth, gwinnett or dekalb counties for long term investment. 

Any advice or guidance is much appreciated

Nadine

[email protected]

[James Wise]

@Nadine Hylton

Welcome to the site. I love the move to have your husband obtain his real estate license.

Good luck to you guys.

[Mark Nolan]

@Nadine Hylton

Welcome to Bigger Pockets. Consider sending messages to other members which is my favorite part of the website.

[Paul Timmins]

@Nadine Hylton

Welcome. You might check out local landlord association meetings. Atlanta is in the top 10 markets in the US for student housing see below.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

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

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

[Dmitriy Fomichenko]

Welcome @Nadine Hylton it’s a pleasure to have you here! You will find this a tremendous resource for all of your real estate needs. You may want to set up some “keyword alerts” to notify the topics that interest you the most.

All the best to you!

[Crystal Aasir]

Welcome to BP. Im a newbie as well but i have been aquiring a ton of knowledge for my mentor. He has experience in various areas of RE. He is also willing to help others. DM me if your interested in meeting up and discussing. Im sure my mentor would be willing to come out as well. He has years of experience and really great guy to get information from.. Trust me i know I drill him daily lol

[Jayrel Stephens]

Welcome to BP I am a newbie as well but I've learned alot from reading up here. I was just looking at a house on cl in Georgia. 

835k purchase

ARV 1.2-1.5 mil

rehab 140k

sounds good but to rich for my blood lol

[Leon Cumberbatch]

Welcome to BP Nadine, just like you a am pretty new to BP as well. I wish you and your husband all the best in your REI journey. Feel free to add me to your colleague's list, if you care to share information.

[Mark Nolan]

@Nadine Hylton

BP is a treasure chest full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members which is my favorite part of the website.

[Rick Baggenstoss]

@Nadine Hylton  Skip wholesaling ... it doesn't fit your profile.  Move straight to buy-n-hold. You should be buying houses with your W2 and eventually, medical office, and commercial.  Your asset is your W2.  

Since your husband is an agent.  Typically, he'll be exposed to many good opportunities for you to pick up.  

[Mark Brogan]

welcome @Nadine Hylton

read,ask lots of questions,listen to the podcasts,then get out and learn your market 
good luck

[Millie D.]

Hi Nadine,

Welcome. I don't want to throw you off, but two things jump out:

-this is not a "guys" thing. It's equal opportunity.  I'm a female and do quite well. You will find some of the most successful folks here are not guys. Isn't it interesting that you, the female, joined BP and posted. But then you said, "Hi guys"....

-wholesaling is very time and labor intensive. How will you do this and continue to practice medicine? Without know more than that, I would have to agree with @Rick Baggenstoss that wholesaling doesn't seem to be the right fit, especially since your husband now has a RE license.

If you have the income of a practicing physician I would suggest teaming with your husband to buy and hold investment property, to create a long term income stream that will allow you to someday leave the practice behind if that is your desire.

Good luck--and GIRL POWER :-)

Yvonne