How to get started with real estate investment

How to get started with real estate investment
Joel:
Hey, everyone. Welcome to Presidential Digs first YouTube post. My name is Joel, I’m the president of Presidential Digs. And so today I wanted to cover something pretty straightforward. How do I get started in real estate investing? This is a question that gets asked all the time. I’ve sort of asked myself that sometimes, but basically what it boils down to is just getting started, right? If you have the passion for real estate and you’re working some other job or you’re doing some other thing, take the time and invest in yourself, invest in some knowledge, just start. There’s no time like the present. If you’re looking for time back with your family, if you’re looking for some extra money in your pocket, because of inflation is taking money rapidly out of your pocket, take the step.

There’s plenty of reasons to say not today. There’s plenty of reasons to say, well, I have something good going over here, I’ll just use it as a fallback. Let’s put all those things aside. Let’s be productive. Let’s be positive. Let’s put our dreams in motion and let’s go off and try to get them, right. And so just wanted to cover a couple quick things here about maybe just how to get started, right? There’s a lot of information out there, including this YouTube channel, a lot of other YouTube channels to get you started. But at the end of the day, make the commitment. If this is something that you’re passionate about, do you want to go after wholesaling? Do you want to go after fix and flip, want to do something else? You want to buy rent, rehab, the BRRRR method, right, or do you want to find some rental properties, right?

All those things we’re going to cover in the days and weeks ahead. But step one, like this video, step one first video of Presidential Digs, right? Like get started, let’s make it happen, right? Let’s all be successful together. My goal from this perspective is give people some of my experience, give some of my learnings, figure out where I’ve made mistakes. Just sort of getting started. I’ve clearly made a ton of mistakes. I probably spent some money where I haven’t, where I should probably shouldn’t have been. But at the end of the day, this is something that I’m passionate about. I want to share this information with other people and I want to make sure that we’re all successful, right. So let’s just dive right in here, right?

So, first thing to do when you get started, pick your market, where do you want to start? Don’t say I’m going to start wholesaling across the entire country, right? No. Let’s get focused in where do you want to pick your market? Where do you want to wholesale? Where do you want to fix and flip? Let’s identify that market. For me, I live in Waukesha, Wisconsin, right? So sort of like, let’s figure out everything I need to know about my market, right? Become the expert in my market. Understand where are the distressed properties? Where are property selling the quickest? Where are properties not selling the quickest, right? Get familiar with the city that you’re going to be investing in, right? That’s step one. You don’t need to go super broad in the very beginning. Maybe if you’re working in a really small town, you may want to diversify to the town next to it.

But in most cases, especially in mine, fairly big city in Wisconsin, enough people and enough homes to go after to say let me hone in, right. And so from that perspective, picking a market, step one, right? Pick your market and just dive in and become the expert, right? Be the person that anybody can go to and say like, hey, what do you think about this street, right? Reach out to realtors, reach out to some context, start building those contexts, right? You’re not going to be able to do this all alone. You’re not just going to be able to sit in your basement like I’m sitting in right now and think, one, I’m going to become a real estate investor. Okay, cool. You’ve made the choice to become a real estate investor, but working with other people is going to be key, right?

You’re not going to be able to do any of this just simply typing on your keyboard and saying, oh, I’m a real estate investor, right? You need to start building some connections. If you haven’t talked to a real estate investor or a real estate agent before, call up a few, right? Get used to cold calling people on the phone. Get comfortable being uncomfortable, right? Because the sooner you start to reach out and contact motivated sellers, or just sellers in general, or you start contacting other real estate investors to figure out how they do things, right, these are all going to lead you to down a pathway, which starts to build a larger network that you can then tap into to say, hey, contact me if you come across a property that I might be interested in. I buy homes for cash.

Cool. I have several real estate agents right know that know that I buy homes for cash because I follow up with them on a weekly basis saying, hey, do you have anything new? Hey, I’m just reaching out again. Wanted to let you know that I’m still here. If you have anything, bring it my way. So those are a couple keys, right? And then you don’t have to go crazy. You can do this with no money, right? You can get started looking and diving into motivated sellers, right? So you can use Zillow, Redfin, realtor.com, right? Go out there. There are plenty of on market deals that could be found right now.

And I know that sounds crazy but there are things on the MLS right now that you could go out and still get, that can still work and fit into your portfolio, right? In my market, it’s very competitive, right? So a distressed property may hit the market. Boom, 10 minutes later, it could be gone. But those are opportunities for you to set up things or for you to look on those free sites, without having to pay a dime to say, what’s available for me to potentially buy, right. So let’s do that, right? Let’s start out with a simple plan, right?

Maybe three steps. Step one, pick your market, right? Define what you want to do. Write some of your goals down, write how you want to attack that market, right? Write how you want to be successful. Step two, pick up the phone and call a realtor. Run through Google type local realtors in my market. Find one that looks like you may want to talk to, introduce yourself, get to know them, let them get to know you, let them know that you’re an investor in the area and You pay cash for homes and that, hey, I may be following up with you on a regular basis. Or if you potentially have something that you think could come my way, I’d be more than happy to work with you, right? And then lastly, just go on there and start looking for on market deals. There are on market deals to be had.

So go out there, use Zillow. I don’t care what you use. Zillow, Redfin, realtor.com. Use something else, doesn’t matter, but you can get started today, right? So get started today. Start to identify your market, reach out to somebody, let’s start building contacts and then start going through some of these free sites online, and let’s start building towards it. So in the upcoming episodes, we’ll talk a little bit more how we can dive into some of the paid programs, paid software that we have out there, how we can start moving towards you, how do we build our deals? How do we make offers? How do we work with real estate agents if we’re going to start buying and looking for properties on the MLS, right?

All those things are coming up. So stay tuned, follow this channel, hit the like button below, add some comments. Tell me what you would like to see. This channel is about helping other people and making other people’s invest foray into the real estate investment market successful, right? I know how hard it can be, let’s not struggle together. Like, follow, subscribe, comment below. Let me know what I can do to kind of help you guys move forward. So until then, we’ll talk to you guys later.
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