All Forum Posts by: James Robertson

Get the money lined up - both debt and equity. 

Get educated through books, podcasts, BP, coaching, whatever it takes

Practice underwriting

Know exactly what you are looking for and communicate that clearly

Build your team

There are pros and cons. A broker that has the wherewithal to invest will pick off the best deals. But, those are the natural incentives of the marketplace!

@James Robertson KP is Key Principal. Basically like Jonathan New explained, as a KP you'll be getting your hands dirty and learning, allowing you to establish credibility for future deals.

I am in the same boat as you James. Trying to find someone in my area to partner up with and learn!

Best of luck! You'll never truly learn to swim if you don't get in the water; gotta do it eventually!

 If you've owned anything in the past I would leverage that, brokers are going to look for proof of funds, or a schedule/list of your owned assets. I don't think you'll have a problem securing deals if you can leverage your strong points to their greatest ability. 

To do your first deal, I think your biggest pitfall will be destroying the innate credibility that you have by pursuing a deal. Vocabulary and a misunderstanding of the differences between residential and commercial residential are the fastest ways to lose credibility. In the markets that I work and own in, the days of sub-30% down payments are gone in the world of traditional financing. When someone tells me they have a 20% down payment, they naturally lose credibility.

In summary, I would say that good questions are always the fastest way to build credibility.