Newbie trying to break free

[Sergio Remedio]

I am a 26 year old software engineer in Miami, Florida, looking to make his first deal in real estate happen. I love the BRRRR idea, but cant seem to make the jump. I've been looking for deals for about 2 months now. I am scared that I am not doing the numbers right or that I wont be able to refinance correctly (or how to refinance at all) given that I get a hard money lend . I also don't know if a hard money lend would be the way to go since most lenders wont lend me a conventional for a beat up property.

I have 2 goals for 2021. To get my real estate agent license (already on it) and to get my first rental property going. I am struggling so hard mentally on that second one. I feel like I have found deals but freeze up and end up not doing anything about it... any suggestions for a rookie learning the ropes of the industry ?

[Corby Goade]

That first deal is a scary one- the thing is that you generally need to understand two things:

-There will be risk no matter what.

-You will not find a perfect deal that is a grand slam, no brainer. 

If you can accept those two things and start operating within the real of what is possible rather than imagining a perfect scenario, you'll start having more luck. 

Secondly, we are almost all in strong seller's markets right now. That means you might have to be more aggressive or pay more that you think you should for a "deal." The fact of the matter is that if you are in this for the long haul as a buy and hold investor, every property you buy will look good in 10 years, you just have to sit on them and be patient. Pay attention to what that property will be doing for you in 10 years, not tomorrow.

Happy Investing!