Hi Everyone!
New investor here excited to get involved in the community and start finding great deals! As a newbie, one of my challenges is determining the value I'm bringing to the table as I know the best way to get folks to do their best work for you is to be able to offer them value first and help their business succeed! Based on what I've learned so far, I'm at the phase of creating my Core Four team, Real Estate Agent first, and building out from there (lender, contractor, PM). I'm meeting with a couple agents in my area this week and next and want to be able to go into those meetings with value, not just as a sponge soaking up all of their expertise as that's the value they bring to me. Appreciate any advice/tips that you have to be best prepared for those meetings and excited to start engaging with everyone in the BP community!
About Me - I'm a lawyer working in the IT Industry in the Cary, NC area and have been here for about 9 years. I met my wife here and we have an 8 month old baby girl named Bella! My REI goals are to get started with my first LTR property ASAP (using the BRRR method) so I can build a portfolio. I'm open to other strategies as well as I've seen many folks talking about STR, Mid-term Rentals (MTR?), fix and flip, etc. BRRR with LTR seems appealing as my goal is to put in place additional income streams with minimal work required on my end (once they're in place). I'm aware that is going to require getting a team of rockstars in place who can make those dreams come true (while also growing their businesses as well of course! Let's all win together!) and it seems to me that here is where I start to find that team and learn what I need to know to be an informed, responsible, and successful investor.
My Fears Currently:
1) Time - Not having enough time to devote to being a real estate investor. My job, while it has lull periods, can be very taxing and so managing a portfolio of properties could become overwhelming if I don't put the right foundations in place. I'm afraid I won't be able to devote enough time to successfully find good deals, rehab the properties, manage the properties (or the PMs), etc.
2) Fear of the Unknown - I know right now that I'm knowledgable enough to be dangerous and so my fear is that I'll hit the pitfalls that I don't know to avoid. Obviously the only remedy for this is learning and experience, so I'll be mitigating this with my aggressive type A personality which will drive me to learn quickly and forgive mistakes along the way.
Appreciate any advice y'all have and very excited to get involved with this community!
