Real Estate Investor Newbie

[Michael Mohammed]

Hey good evening everyone just getting into real estate investing well the flipping side of it and I'm looking to gain some insight from knowledgeable ppl and learn new information as I take this journey. Anything I should know first going into this full steam ahead?? And I already learned that I need to build me a strong networking system. Open to any new and sensible ideas!!! 

[Hannah Williams]

Hey Michael. I'm also a newbie investor myself who just got started in the last month (I've done one deal in that month!), however, I'm very fortunate to have a dad who's been in the residential real estate game for 25+ years, and one of the most helpful pieces of advice he's given me is this: If you live in a market with low deal inventory (think Chatanooga, TN, Greenville SC, Asheville NC), attempting to begin as a wholesaler is not going to be lucrative - the deal volume will be low. Instead, connect with an agent and existing wholesalers in the area and PAY them WELL when they bring you deals. Become someone who's known as "the investor who gives us his criteria (i.e. a 2/3 bed single family home with a basement, within 25 miles of X location) and ALWAYS buys that deal if it meets that criteria". 

As someone who doesn't want to hustle as a wholesaler because I love what I do too much, I've found immense value in this strategy and deals have come my way. I hope this is helpful! I also loved the book "The Millionaire Real Estate Investor" by Gary Keller; it helped me build the mindset and goals to make this happen: https://www.amazon.com/Million...