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Updated about 2 years ago on . Most recent reply
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Please advise the steps to move forward with my first investment.
I'm new to here and nice to meet you all!
There are so many things I could learn and am actually overwhelmed from a lot of information comes to my inbox everyday.
I obtained a real estate agent license wanting to start investing last year and currently being inactive because I was so scared not knowing what to do. I don't have a partner(other than my husband not interested in the real estate but is supportive of what I'm going to do)
I finally figured out that I'd like to invest on mid term rental to start from, and eventually multi family.
I have some ideas of finance to purchase an investment property after learning from this community but not certain yet.
I have no knowledge of investing real estate world and English is not my first language that I'd like to avoid miscommunication and misunderstandings.
Without knowing the details info such as regulations in the area or procedures of buying a property( even though I passed to get the license), should I start connecting an investor friendly agent and start learning from the agent? I thought I'd activate my license first but I thought I'd ask a professional agent first so I could learn and will be ready.
I bought the book of "30 days stay" and will read this week.
I thought I can keep learning but want to step forward to get out of my comfortable zone sooner than later.
Please give me advise should Just jump in finding an investor friendly agent in that area?
Thanks!
Most Popular Reply
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Quote from @Nate Sanow:
First of all, let me just say good job on going for it!!! You are TRYING and that is good. I remember in the older podcasts and forum posts, Brandon Turner talked a lot about how you should be analyzing 100 deals a week / month, whatever it is depending on your personal goals. That means, doing an analysis of 3 properties per day, and after a month, you can compare 100 of them. That is something you can do on a desktop computer and take lots of notes on.
Secondly, I will say, yes, I do believe a quality, investor friendly realtor would be good for you. I suggest interviewing at least 3, to make sure you find someone who has the right balance of friendly, but experienced in the area you want to invest.
I would also find a similar version of a lender, actually…your realtor should have 1-2 great recommendations. Conversations with lenders who care are very valuable.
One last thing…take a deep breath :) you’ve got time. I am proud of you for learning, growing, and taking you first few steps. It will work out!
Thank you for the kind words!
I have started searching an investor friendly realtor and see only 2 around the area I'm looking. Should I search more realtors next closest city?