All Forum Posts by: David Fritch

Cool! I really enjoyed that. 

I like thinking about real estate (and everything else) in an outside the box way.

And by your profile it seems your doing well by doing good! I'll look back through some of your posts and see if I can add my hair brained ideas to your hair brained questions. 

I'm going to read through your blog later and see what you've got going. I'm an idea guy, wish I could get paid to sit around and fix other people's problems with creative solutions,. And I will soon enough. Was it you that did a piece several months back, something like "The Future of Landlording"? It talked about some different ideas including a car that could be shared among or leased to tentants...

I would suggest staying away from newer agents and low volume agents as they will be very tempted to be pushy and get frustrated with your timeline because they need the sale badly. A seasoned agent, often they have assistants as well, understands the idea of a "sales pipeline" and they understand that often the seeds they are planting today won't be reaped until months down the road. They should be willing to sit down with you in their office or take them to lunch and make a good faith verbal commitment to use them if you connect well. 

I would also look for an agent who specializes in working with investors. If they own multifamily properties themselves or are active on Biggerpockets, that's a good indication. Also find an agent who can setup their mls to automatically email you new properties that come on the mls which fit your criteria. This will only take them a few minutes to set up. If you need to tweak your criteria email them about it and they or their assistant will go in and make the changes in a few minutes, no big deal.  Then you guys can look at the pictures, read the listings, ask questions on BP, crunch the financials, drive by and get to understand you market and your target properties better without feeling like your bugging them until about 6-8 weeks before your ready to buy which is the time to meet with them again, line up your financing and start watching the market even more closely. 

My pleasure Al. I just thought of a fun play on words. Something like "Are you on the fence about how to promote your business? Maybe the best way to promote you business is on the fence. The fence located at ___________ where [[ie 30,000]] drivers and pedestrians  will see your message every day 365 days a year."

I think you can get that traffic data from your city. 

If it goes well let me know. There has been a moratorium on billboards where I live for about 20 years now. So we are not overwhelmed with messages on our busier roads like some places. Might look into doing it around here. 

Thank you Sam. I think I started understanding using OPM as a positive thing a year or two ago after listening to Podcast #1. But it was at a head level and it's moving to gut level, Also, I really needed to prove that I could do it with my own money. Like so many things in real estate partnering/borrowing can be done win/win and the more you make others win the more successful you'll be. 

Really looking forward to meeting you at our next meetup as well!

No experience doing it myself but I see it being done in my town in high traffic areas. Not on the fence exactly but with 4x8 painted plywood with stands and renting out spots for service companies to park their "wrapped" vehicles. 

If you did it it would be great to find a way to track what it actually generates like a special phone number that's only on that sign or an sms (texting) short code, special offer, code to mention etc that only that is unique to that sign. Then you have a case study to statistically verify the effectiveness of your billboard and gives you a stronger case and price point as proven ROI which is what every business owner should be looking for on marketing.

That would be so awesome if you could turn your fence into a cash flowing "rental property"! Local laws permitting of course. Good luck and comment back here if you go for it. 

It's 5:23 local time here in Washington State. I had to chuckle as I just glanced up and saw that. Everyone in my house is fast asleep and I'm pounding out a "low money down" plan for acquiring property. Blame it all on @Brandon Turner  and his comments about the 4:00 in the morning eureka moments after "sweating in bed" about how to fund a deal. This was on the podcast where he was the guest being interviewed by @Joshua Dorkin  about "The Book on Investing with Low and No Money Down". Or blame it on the pain meds from the surgery I had yesterday. Probably a combination of the two.

Either way it just might work (disclaimer: I'm not endorsing the use of narcotics prescription or otherwise as a creativity or mindset booster). I've found great deals the past month. I've got 3 parcel's purchased outright and 2 through seller financing in the past 3 weeks and 5 more great offers going out, all with a decent shot at closing. We're talking bare land here, between $1,800-$15,000 per property (think "land-flipping" @Seth Williams  strategy-BP Podcast #39). 

The idea is we form an llc with the 2 people who have approached us about investing and pool those 5-10 properties in an llc with us putting in small sliver so we do have at least some skin in the game but getting a much larger share of the pie for doing the work.

It's something that crossed my mind before but I think getting familiar with Brandon's story through the podcast and first couple chapters of the book has helped me see that A) as a strategy forming well defined partnerships using separate entities is a great way to segment our business and B) I don't need a AAAA business rating to legitimately be investable-just a successful track record (we've almost doubled money in 6 months already) a straightforward workable plan and high caliber deals. In fact I was watching the Michael Blank interview before I "went to bed" and he was talking about finding investors with sample deals and I realized my actual deals would probably sound like a far fetched story if they weren't documented history. Why am I not using those success stories to get money?!?

Another aspect I like about "batching" several small deals in an llc is that it diversifies for everyone involved instead of doing separate deals; some over here with Sally and some others over there with Joe and certain ones with my own money which can only end up lopsided in terms of ROI and the time frame of the cashing out on the "flip" (we actually sell both cash and on contract). It evens out risk/reward, time value of money and my partners know I'm in the same boat with them not cherry picking.

Bottom line is I'm starting to make personal the fact that no and low money down investing is not only totally possible, it is possible for me and what I am going to make happen! 

Thanks and great job Brandon, the book really is providing me with a "Rich Dad, Poor Dad" type opening of the mind and personal application that I think you are shooting for. My brother is a board game inventor so when you're ready to turn it into a board game, let me know.

Matt we did meet up, in fact our next meetup is a week from today. Message me your email address and I'll add you to the group list. Thanks!

Just a reminder that we meeting tonight at Jackson's at 6:00. Email me at [REMOVED] if you need more info. 

Podio can exactly what you want. It's very flexible and easy to use. I'm beyond happy with what I'm able to do in making my own CRM and dealflow management and I'm no tech whiz.