Unlike other careers, there is no training, education, or requirements for getting started in real estate investing.
You don’t have a boss or another employee to help you learn the ropes.
Really, you don’t normally have a support system for your new career choice unless you have a supportive spouse or partner in the business.
This is one of the main reasons it’s so difficult to take those first steps.
The uncomfortable unknown can be paralyzing.
Another “fear factor” is that there is the assumption that it takes a lot of money to get started.
The truth is, the amount of money you need to get started has a lot of variables.
A few of these variables are:
- What your exit strategy is (wholesaling, assigning, buy and hold, rehabbing)
- The type of advertising that you’ll be doing
- The amount of advertising each month
- The type of financing you have
As a new investor, it’s easy to think that rehabbing is the way to go because that’s what we always see on TV shows. Except, that’s one of the most cash-heavy strategies and wholesaling or assigning can be much less money-intensive while you’re first starting out. In addition, until you know how to properly calculate rehab costs, it’s easy to go over-budget and depending on how much you lose, it could give you reason to throw in the towel.
Without someone sharing their experience and guiding you through your first steps, it can be paralyzing when you’re trying to get your business going.
- How do you get deals?
- Is MLS where I should look?
- How much money do I need?
- What type of business should I set up?
- What happens during an appointment?
- What should I offer?
- What contract do I use?
- What happens if there isn’t a clean title?
- How will I sell the property?
- Where do I find other wholesale buyers?
- Do I need to be a licensed realtor?
There are SO many questions that you’ll have.
Having a coach or mentor is one of the most effective ways to get started quickly and without making costly mistakes. They can show you what steps to take and let you learn from their experiences.
A coach or mentor is essentially the only way to smoothly become a real estate investor. By yourself, you’re most likely going to fumble through and success is a ‘possibility’ instead of being ‘most likely’.
With FlipNerd Investor Coaching, we provide you with 90-day jump start that literally breaks it down week-by-week, step-by-step so that you don’t get lost or stressed while you’re ramping up your business.
We’ve heard numerous times that without our coaching, it would have taken our coaching students years but they accomplished in weeks or months.
How much is that extra time costing you?