New to Real Estate · Houston, TX · Member since 2023 · 5 posts · 10 votes
I began studying real estate a year and a half ago with limited financial resources, but I didn't let that stop me from pursuing my passion. Today, I'm proud to say that my dedication has paid off and I've built up my creditworthiness and established a reliable cash flow. However, I find myself surrounded by individuals who lack knowledge or interest in the real estate industry, and the few attempts I made with meetings I've held with friends and family have fizzled out due to a lack of passion. If you can relate to my experience, perhaps it's fate that brought you to read this post.
@Jahannes Wilder You need to diligently build RELATIONSHIPS with investors, contractors, lenders, and agents. When I bought my first property I was humbled by another investor. We connected through a roofing contractor I found walking a job site. After a coffee and small talk it dawned on me I had nothing to offer. No value to add, a good age difference, and little common connection. It's uncomfortable until you know people. It's a hard fact when starting off with limited resources. Without experience, deal flow, market research, VALUE, it's hard to get the ball rolling. The first property, deal, or wholesale transaction is massive. You already hit the creditworthiness goal. Don't stop until you can pull off another band-aid, hit another small goal, and get the ball rolling. Every goal is small amount of value to someone else.
Remember that roofing contractor?... We have hired him 3 times, recommended and got him 4 others jobs, and I'm going to hire him again. Use relationships as motivation.
Real estate is one of best investments boats people can jump into but many don't. With this unbalanced market, higher rates, and crazy news articles (they recycle this stuff over and over) it's harder to find like minded people. I have close friends and few are investors. They own houses (think it's there biggest asset) but everything else is rainbows and fairy dust. Don't let people get in the way of your bigger goals.