Any real estate investors here? Been working my way up partnering with investors in new projects and trying to scale up. Would love to chat about personal experiences in the space
It basically got to big for me to have any meaningful control over what was happening as my vote made little to no difference so I sold the rest of my portion and so did a bunch of other little guys and then the few big partners went public.
Gotcha, I'm still at the point where I'm taking on loans through investors, definitely much too small to ever start selling shares. (Only 50 units under ownership/ 12 rehabbed and rented)
What's your background/ how did you get involved?
It sounds like you are on your way with 50 units
Had a business degree, ran in to money from a rich uncles that died, bought real estate and rented it out, me and a few of my wealthy friends went in on some big real estate, not your usual apartment complex. We made a lot of profit leasing to big players and then more and more people wanted to buy their way in and basically it got overrun by 100 millionaires and making my vote shit so I left.
I didn't start up the hard way like you probably have, I was just lucky to run in to money and was smart to invest it.
Yeah trying to hit 200 by 30, but the number of deals in my area has gone to crap in the last 4-5 months. Thinking the certain parts of the Midwest are tapped out at this point, though I'm hoping that's not so just the time of year
Just trying to scope out your position atm
Do you hire someone else to manage it for you, do you have a few assistants to help deal with shitty clients.
Are you going to set up almost like a real estate place/long term where you can advertise your properties?
I had one in a shoppingish area just cuz it had good growth potential and I just made it like a place for clients to pay so I could hire less assistants running around chasing rent.
How does someone get into real-estate? How do you go about getting the money to buy homes to flip?
I don't think it's something I'd be good at but I'm still curious how you start out.
goto the bookstore and you'll find an entire aisle of just real estate investment books. Sit there and read as long as you can. Rinse and repeat. Once you get the gist of it from reading, then join a local real estate investors club and look for somebody there to mentor you. Tell them you want to be a birddog. Remember that term, birddog. That's how you'll get your foot in.
If you're serious about real estate, take a local realtor salesperson course. Maybe even an appraisers course if you can find one you can afford. I've done all of the above and that's how I became an expert. You have to be always talking to everyone, handing out cards all the time, and constantly hunting for a deal. And most important, when you find an opportunity, you have to be ready to pull the trigger.
I have personally built a portfolio of 11 properties, which generate enough to cover both the loan/interest and then some reasonable profit. (Which I plough back in.) My question is how do you go from that point to attracting investors? I would like to step up, but I seem to be missing the info on structures/proposals etc. Are there resources for this out there?