Here is your 1 minute crash course on getting started in real estate investing and the key first 5 steps to getting moving.
- Get some sort of business card if you don't have one already. Even if it is just a basic card with your name, phone number and email address along with a simple message like “I Buy & Sell Houses”. Anything is better than nothing and so many beginner investors do not have anything at all so at least have a card you can hand to other investors.
- Find a local real estate investor association and also check for meetup groups such as on Meetup.com. You can find a list of investor associations here in the resources section. Then, start attending every meeting you can.
- Collect everyone's card you can at the meetings you attend and be sure to hand out one of your cards to every person as well. Let everyone know you exist and building a relationship with other like minded investors.
- Start identifying who is actually doing deals. Who gets up at a meeting and talks about a deal they did? Who passes out fliers on a house they want to resell to another investor (called wholesaling)? Who are the board members of the association? These are the people you will want to focus most on in step 5…
- Of the people you identify who are actively doing deals and have some experience, talk to them and ask them questions. Ask if you can see one of the houses they recently rehabbed so you can see what type of work they did. Ask about the areas they are investing in and so on. By surrounding yourself constantly with other investors who are doing deals, you can begin to learn from them and then start roll modeling what you see them doing that works.