Newbie Investor, Portsmouth, NH | Licensed RE Agent in NH & ME

[Jesse Davies]

TL;DR Looking to learn about the first steps I can be taking in my local area to begin with flips. I can leverage my RE license, though need help understanding financials!

Longer Intro below...

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Thanks to the team at BP for developing such a great community to learn and grow!

I am a licensed agent operating on the Seacoast of NH, and was introduced to BP by a family member who kept telling me how great the resources are, and I am blown away that I didn't know about this community long before now.

I do not currently own any real estate.

My wife just graduated from UNH with a computer science degree and now has a great job at a national insurance company as a techie. This has resulted in our income has increased dramatically!

Prior to getting my RE license in April of 2015 I owned a mildly successful home inspection business for three years and a short lived landscaping business prior to that. Being an agent is the first truly successful position I have been in, both in regard to personal development and financial stability.

My primary expectation at this time is to wait on purchasing our first home until our income is more predictable, and I am curious if I would be able to do flips in the meantime to grow our wealth without ever occupying a home.

To name some of my strengths would be:

1. My local connections

2. Licensed RE agent, so I have access to lots of great tools of the trade to find and assess property

3. I'm naturally a risk taker, so I don't feel I would be trapped in fear of failure

To name some areas where I need the help of others would be:

1. Not understanding how to run the numbers on the front end. I do not know the most important questions to ask to determine what a good deal is.

2. Because I am building a full time RE team, I am limited on time to put into remodeling, so I would need to learn about cost effectively working with contractors from the very beginning

3. Obtaining financing...not sure how hard money lending works, risks involved, tricks of the trade or management of the funds once provided. Definitely where I feel most helpless!

Thanks for reading and I look forward to engaging with the community more and more over the coming months and years! Feel free to reach out if you would like to meet up in person or chat in another fashion. I am always excited to share my knowledge and learn from other professionals.