Hello just getting started in real estate and trying to start by finding a market. The way I’m going about finding it maybe be a little ineffective all the feedback I get is very much welcomed and appreciated.
I’ve started by finding what type of niche in real estate I’d like to start off with and that’s fix and flipping with the first exit strategy being a rental. I’m wondering if maybe there are other exit strategies that I would be able to apply.
Next I’ve started to look for the price range of homes and strategy I would be able to invest in, that’s looking like 20k-50k and with sweet equity (actually doing the work myself).
Next I’ve searched Zillow for zip codes an hour- 2 hours away a radius from where I live and write the houses that may seem like a deal and write them down.
Next the way I write down the house maybe missing a lot of information but this is what I’m writing down for a potential investment home: Address, price, # beds, # baths, sq footage, if it’s a single family home or multi unit, type of home (construction).
My next step is to sit down with a mortgage banker and see my options on loans.
This has been my strategy so far and just looking for some constructive criticism. Am I focusing on the wrong stuff? Should I focus more on the financial aspect, or the marketing strategy, or is looking for the home the good place to start? Am I missing something while looking for a house? Should I be looking at other factors outside of the home and if so how can I research that.
Like I said earlier any feedback is welcomed thank you very much.
