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Updated almost 8 years ago on . Most recent reply

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Adam Lewis
  • Boston, MA
2
Votes |
4
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Brand New Investor in Milwaukee

Adam Lewis
  • Boston, MA
Posted

Hey guys!

This is my first post on BiggerPockets and I couldn't be more excited to immerse myself into the real estate investing world. I moved to Milwaukee about a year ago after graduating from college in Pennsylvania and have been spending a lot of my free time reading, learning, and talking about real estate investing--I'm quickly moving toward making the leap!

To avoid the paralysis that comes with all the options real estate has to offer, I'm fully focused on starting in wholesaling. I'm a team player at heart and am excited to help sellers find solutions to their situations and investors reach their goals. I'm seeking out other investors, realtors, contractors, etc. to connect with, learn from, and build mutually beneficial relationships with. I'm hoping to get a few key questions answered:

1. How are you able to move quickly through the process once you get a lead? Between estimating repair costs and determining ARV, how do you ensure you can make a quick offer?

2. How do you choose which "list" or group to market to? It sounds like the key is just choosing one and making sure you provide a campaign of materials as opposed to a one and done of several lists, but what do you think?

I understand real estate is a team business, a people business--any help in my early stages will be greatly appreciated and will be certainly remembered down the road!

I look forward to hearing from you guys!

Most Popular Reply

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Marcus Auerbach
#1 Starting Out Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
6,454
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4,488
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Marcus Auerbach
#1 Starting Out Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

Hi @Adam Lewis welcome in Milwaukee and on BP! You will find answers to pretty much alle your RE questions here. Definitley listen to the podcasts, for example when you are in car and have some time - you will find them very beneficial and motivating. You can always send me a PM with questions, I have mentored a few people over the years. Sometimes I also give unsolicitated advice like this: it's really, really hard to become a succesful wholesaler and probably the worst and most frustrating way to get started. You have to know so much about so many different things. You have to be good in marketing (and spend some significant money on it consistently month after month - results often take half a year), you have to be good with people, negotaitions, know all Milwaukee neighborhoods and assess market value of any property quickly and accuratley, understand construction issues, know how to rehab and how much money it will cost to fix pretty much anything. Finding buyers is the easy part, please don't waste any time on building a buyers list! So it's pretty bad. Sorry for the bad news. So what could you do to get started? Househack for example. Buy a duplex and get your feet wet. Or you could raise money from your friends and family (raising other peoples money and then investing is a core function of being an investor) and then put a deal together that makes money for your private investors (family, friends etc). Raise 30k, buy a quality property and pay them a solid return. I think you have the right mindset: looking to help other people. If you build your business around this principle you will do well.

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