New to the real estate industry and need guidance, San Antonio,tx

[Martin Oviedo]

Hello, i am new to BP and as well to the real estate industry, looking for anyone who is willing to guide me through this journey. I am looking to start fixing and flipping homes. I have never worked with a wholesaler, but i am willing to. So, i am looking for someone who could help me or guide me to buy a home for a potential profit. Also looking for investor friendly realtors in the area. Thank You 

[Scott White]

Hi Martin! I'm a few months ahead of you on this journey, and here's what I'd recommend:

1) Spend a few months focused on your education. Listen to real estate podcasts when you drive. Read books. Sign up for the BP newsletter and set up some BP keyword alerts and read this stuff as it appears in your mailbox.

2) Start modeling out mock deals so you can understand how the numbers work. I do this by finding houses on the MLS and then running them through dealcheck.io. Do this a lot, like 100+ times. After a while, you can begin to look at a listing and generally know if it'll work or not.

3) As you do steps 1 and 2, pay attention to what strategy (buy-and-hold; flip; BRRRR) and property type (single-family, multi-family, land, trailer parks, etc.) appeals most to you and your resources. Pick one combo and really begin to deepen your knowledge.

4) Start really drilling down on some of your paper deals. Get better tax numbers from the local CAD office. Drive over to the house and stand in the front yard and look at the immediate 'hood. Call for insurance quotes. Talk to property managers about neighborhood quality what they think it'd rent for. Talk to lenders about how funding would work. Make a detailed list of renovations and find out qualified numbers for how much it'd cost.

5) Start thinking about how you'd organize your business infrastructure - your LLC, your bank accounts, your accounting software, maybe a dedicated Gmail address and Google Voice number for your business, etc. When in doubt, talk to professionals about helping you get these things set up.

6) As you talk to people, plug them into Google Contacts or similar, along with notes and who else they're connected to. You'll be surprised how quickly your network can grow, so you want to make sure you're keeping good notes about who's who and how you interacted with them.

If you'll dedicate a few month to a program like this, you'll be able to make much more respectful use of industry professionals' time when you engage them. Think of the difference between showing up on a realtor's doorstep and saying "Help me make a million bucks in this real estate thing!" vs. "Hi, I'm hunting for 3/2 SF homes 1100sf+ in class B/C neighborhoods with a target acquisition price of $60-110K needing under $20K in repairs with an ARV of $150K for a BRRRR strategy."

Hope this helps!