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Updated about 6 years ago,

User Stats

33
Posts
10
Votes
Andrew Major
  • Rental Property Investor
  • Greater Philadelphia Area
10
Votes |
33
Posts

Post 3 Military Deployment and Starting on REI

Andrew Major
  • Rental Property Investor
  • Greater Philadelphia Area
Posted

As per my last couple posts, I describe my goals and plan of action here.  I am tracking my journey on here as I go to keep myself accountable (feel free to call me out). In summary, I wanted to analyze markets while on deployment so I know what a deal is when I see it (Fort Drum and Watertown, New York and Bethlehem and Lehigh Valley, Pennsylvania).  I also wanted to start assembling my teams and key players in these areas.

Update:

-Internet here is scarce, I am extremely busy. I have found time to analyze 12 deals in the past days which isn't bad.  I leave my phone in the only place in our area to download podcasts.  Past 20 days when I am at my desk/working out I have listened to around 30 ish BPpodcasts.  At night I unfortunately go out on missions and cannot be listening.  During lunch I read Brandon Turner's "The Book on Rental Property Investing" (Yes I plugged it).  I am also solidifying a business plan and my goals sheet.  I have been working 10-16 hours a day so I try to squeeze whatever in I can, along with working out.

-For assembling my team, I have had luck with 2 real estate agents and 1 property manager in Bethlehem and 1 property manager and real estate agent in Watertown, NY.  I do have to call on their references but it is hard because I do not have cell service and I feel some people think that using WhatsApp is sketchy. 

Questions: 

- What do ya'll think of my plan and how I am acting upon it? What can I do better?

- Is there an easier way to get people to basically apply or reach out to me?  I have just gone off the internet and pulled the agents and PMs off the internet, some don't get back to me and a lot want to call me.  The internet calling for one is patchy and has driven 1 away.

- For buying my first multifamily buy and hold, how would I go about buying it so that the house is ready for me and my roommate to move in back from deployment and have people live in? I know the due diligence phase is extremely important, and walking through the property is normal.  Long distance real estate investing seems kind of foreign to me.

Thanks for your help and time!

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