Looking For Guidance In Real Estate

[Dexter Stewart]

Hello BP! My name is Dexter Stewart, I am full-time student and a HUGE real estate enthusiast! I've loved the idea of real estate since playing Monopoly as a kid. I'm sure someone here can relate! Anyway I live in beautiful South Florida and I am eagerly interested in how to get started! I would like to give you my plan. And if it sounds crazy/unrealistic please tell me! 1.) I am looking into Probate Real Estate and perhaps wholesaling a couple of properties maybe 4/5 just to get some cash in my pocket and get my feet wet. 2.) Once I've dipped my feet in, I would like to start getting into rental properties (again using Probate as I find those numbers to have the highest spreads) and continue to flip through wholesaling probate properties. Just so I can have some income while my rental properties pay themselves off. 3.) After owning a couple of rental properties all running efficiently and profitably! I would like to do total flips, like you see on TV. And hopefully be running an RE company that's generating 250K+ a year within 10 years. I guess my questions are: 1.) Are my goals realistic/reasonable? 2.) Has anyone ever taken this road before? 3.) Is there anyone currently on this road? 4.) What is the best way to get started? I hope to communicate and learn lessons from RE investors from all over the country. And world if anyone has ever done that before, please share! I have read many, many, many RE books and continue to do so. I also listen to podcasts and webinars as often as possible. I just want to know if I'm heading in the right direction. The hardest thing for me is getting started. I just don't know how to make that big push. Should I invest more time/money into meetings, seminars, etc. Or should I seek help in the form of a RE mentor? My current situation is, my grandmother lives in a retirement community near-me and has had some passings in the last couple of months (this is where probate comes up) and I was considering approaching the new owner who just inherited a property from there deceased loved one. These are apartment buildings and I was considering these to be the perfect place to start! Now how I go about this is a whole different forum, but I just want to know if I'm going the right way. I was going to approach the admin, get it under contract and contact a cash buyer and try to make 5k on it. Is this crazy? Is to make 10k insane? So this is getting long, thank you to anyone who made it this far and I appreciate all opinions, comments and concerns in advance. I look forward to talking to you all! Thank You. Best Regards, Dexter Stewart

[Aaron Mazzrillo]

I didn't read your post. One big block of text? Try throwing in a paragraph break once in a while and you'll get more responses. Seriously. I'm going cross eyed just thinking about trying to read that.

I did see the words probate and Florida as well as wholesale. Florida is definitely a great place to learn and work probate. I know several investors working it in the Tampa area. From what I hear, Florida is where old people go to die so inventory levels are probably quite consistent. Also, lots of vacation home owners from up north which is a good reason to also add out of state absentee owners to your business model. 

There are quite a few probate people on this forum. It is different from state to state so try to focus on investors with knowledge about your state laws.

Good luck!