All Forum Posts by: Shawn Singh

Hello,

I'm a 21yr old rookie, ignorant to the nuances of real estate investing and really, life in general. However I'm naïve and passionate enough to believe I can make a career out of real estate investing. With that I'd like to get some feedback.

I've read a lot of the blog posts and articles posted on biggerpockets. I've also picked up a copy of J Scotts book on how to flip real estate but I have zilch experience applying the formulas and theories to real life situations. Coupled with the fact I have no money would it be wise or foolhardy to work for a flipper, for free in exchange for advice? Or if the flipper is very busy and doesn't necessarily want to carry a deadweight around, I might be able to wholesale a property to them for free, instead of money they could "repay" me via walking me through the entire flip?

Another Idea, maybe crazy,  would be to locate a private lender and ask them If they'd be willing to finance the entire project. I'd manage the flip and for their exuberant risk tolerance. I'd be willing to split the profits 85%/15%. They'd receive their the loan repaid  and 85% of the profits. My rational is this, I know I'm inexpericed, I lack the finances due to those factors they deserve a lions share of the profits. However we're also building a relationship and I'd immediately roll over the 15% of the profits into the next flip thus allowing me to put some skin in the game.

Where as the previous two options wholesaling and working for free wouldn't do anything to improve my financial situation. I know I've grossly oversimplified the process but any help would be appreciated. Real estate is a passion of mine and I'm willing to work with/for anyone on any terms in exchange for valuable knowledge.

Thank You!

Hi, my name is Shawn. I am 18 years old I'd love to get some help. I currently am working 2 jobs and I am netting around 60k a year, no expenses so I have around 50k a year after taxes. I am a complete RE novice, my parents own various properties and have developed RE but they aren't will to share their knowledge with me, they prefer I "learn on my own".... they agreed to go into business with me as a partner and have allowed me to use their credit under their supervision if I fork up all the cash used in the RE deals. I love expanding my RE knowledge, I read biggerpocket blogs and forums all the time, I've purchased many RE books as well. I'm just not sure where to begin, as I've previously stated. University classes aren't really an option, I don't find myself as motived when I am being taught in a class, I'd rather learn on my own via experienced investors and through trial and error...don't get me wrong though I love learning just not in school format.

I have a general idea of the various types of investors, the passive rent based person then you have the flipper, the developer and finally the investor who's strategy incorporates both rental, flipping and development. I aspire to make it big. I consider myself risk adverse, I don't mind taking more risk for a bigger reward. I'd love to go straight into RE development but I know that is no very likely. So how do I do it, make it big that is? LOL, I guess that's the million dollar question. Any help would be appreciated also my market is Sonoma county, CA