brand new

[Raven Walker]

okay so to begin. im 23 and i hate my job, for lack of a more descriptive word. Ive always had this passion for real estate and once i heard i can get into it without using too much of my own money, my heart lit up. what i have done so far is......

watched videos

took notes

found properties that may have potential motivated sellers

estimated how much the properties should sell for

made flyers that i would like to send out, but with further researching realized i need to work on what i am explaining to the seller as far as what my job is

put addresses in using Nj assessment records, found the owners addresses.

heres what i am stuck on:

exactly how to go about approaching sellers and finding buyers

finding assignment contracts and exactly what to do with them

To be completely honest, ive done so much research and want to get started already, i think it is fear holding me back with not having the right documents, punchlines and if i can actually close a deal. if someone is willing to help i can send the template flyer i made and all other forms i made that i think may help me but could be completely useless. please someone help.

[Brett Snodgrass]

Hi @Raven Walker

Just thought I'd chime in after @Justin Fraser and @Shane Hedeen advised you to find someone in your area to show you the ropes. I agree! Here's a way that I've found works for people who are looking for mentors if you're not sure how to go about it. 

1. Set up a keyword alert for your specific area.

2. Create a post on BiggerPockets saying where you are from and that you're looking for advice on how to find an ethical mentor in your area.

^This will help promote you with other people who have keywords set up for your area. (But make sure you don't say, "I'm looking for a mentor in my area, any takers?" As that will get you kicked off for solicitation)

3. Then I'd be on the lookout for established wholesalers and investors in your area that pop up from your keywords.

4. Once you find a few that look interesting, take them out to coffee. Make sure you interview them and get a feel for them. (working with them is a mutual agreement)

5. If you like them, and they seem like a good fit, then ask if you were to find some deals, if you could bring the deals to them for them to buy and then offer a 60/40 split (they get 60%) if they'll agree to walk you through the process of closing on it/selling it. And state that you'd obviously do a lot of the leg work, you'd just need to be shown what to do.

6. Then offer, if they have any other needs in their business, that you're really hungry to get involved and to learn the business, so if they needed help answering phones, cleaning toilets or whatever, that you'd love an opportunity to work with them and help out.

7. Then actually do it, if they offer you something.

8. Begin looking for deals via free resources, (here's a good guide to get you in the right direction: https://www.biggerpockets.com/renewsblog/2014/04/2...). Also consider driving for dollars, posting signs at coffee shops, etc.

9. Learn how to run comps and analyze deals the best you can (search on the BP blog for 65% rule for wholesalers) and then when you think one might be a good deal, bring it to the investor who has agreed to purchase the property, and ask him to confirm your comps and give you feedback.

10. Then if he likes it, boom: you now have a real estate mentor and you just rinse and repeat moving forward.

You can also find potential mentors at your REIA's. I recommend attending the ones in your area. You can search for them on meetup.com.

All the best!