Originally posted by @James DeRoest:
Originally posted by @Takeshia Martin:
I've been working on jobs i don't like and aren't paying much. I don't have alot of credit established and i can't qualify for loans. I'm really just frustrated with the process of entering real estate without any credit and without any savings or even a decent job that pays well to be able to save up eventually..FRUSTRATED. I DON'T WANT MY REAL ESTATE DREAMS TO DIE
Become a realtor. Do the exams, get your associate license or whatever it's called. Get it hung somewhere, and start playing the game properly.
I am convinced that all this wholesaler stuff, and much of the rehab flipping businesses are now going to be short lived - too many people trying to get into the game from gurus, sites like BP, and TV programs. At the end of the day, the U.S. market cannot support 5m investors flipping houses. People on BP already complaining that they are seeing less and less opportunities in their markets (strange that, tell everyone your strategy and your neighborhood targets and it attracts more people - it's a bit like telling people your darkest secrets and suddenly wondering why everyone now knows your darkest secrets).
But the real long term money is becoming a realtor, and then maybe a broker if you really hate yourself.
For a very simple reason: people in the RE business (not pretend investors) get to know about stuff before it hits mls. If a realtor is negotiating a listing in your office, you get to know about it before everyone else.
The downside Is that it takes time to become established as a realtor. My realtor for instance has taken 4 years to get off the ground, the man is a machine, every time he's out, he's handing a card out, he now has an assistant as he's that busy, but he's easily pushing into 6 figures in commissions now.
Good advice here. I just recently made a career switch in the past 18 months to get into real estate and got my real estate license. I will openly admit I have a wife who makes good money at her job and that is enabling us to make some moves with our own investments but truthfully, getting my license and being forced to really learn about the biz is a huge help. And it sounds like you aren't making much at your current job but if you can get through the licensing, and pay all the fees to hang your RE license somewhere, you just may be able to join a team as an admin where you will be a glorified intern and not make a huge hourly salary either but 1. you can earn commission if you refer your friends and family to buy with your lead agent, 2. you can get a birds eye view of learning about the business.
Things can happen fast and as other said if you find the deals, the buyers will come. A friend mentioned he was ready to finally buy his first investment and we were set to go out and look at some properties. an hour before we were going to meet, he wrecked his car and then we both got a bit busy with life. 2 months later, I saw a deal that really stood out and emailed it to him. He dropped what he was doing and we went to see it. 2 days later we had it under contract. We renovated it, got it rented for top dollar and he told me "man, that is addicting" to which I said, "oh yeah, well take a look at this one" next thing you know, I have him under contract on another property!!!!!
Feeling discouraged at times is normal, it's how you deal with it that will set you apart. I'm 37 years old and spent my 20's and early 30's chasing dream careers and doing other things and I don't regret it at all but now I am enjoying doing real estate and helping make others dreams come true whether it be owning their own home, or buying investments for their future. It can be very rewarding emotionally as well as financially.
