All Forum Posts by: Adam Upchurch

3 things...

1. Find out how you want to start but don't stress because it'll probably change several times. You don't have to commit to anything forever. I started trying to buy rentals then went to flipping then tried to buy and airbnb and have settled in wholesaling. But will get back to the other things when I get really good at the hardest thign.

2. Stay super active in this community and look to join several others. I recommend your local REIA, just google search *your city* + reia. Also, join this community https://pacejmorby.com/invite - they have a super active discord which is like a modern text group on steroids. 

3. Take action. There are three things you can do in real estate to add value. Experience, Money and Time. I'm sure you have a ton of time compared to the other two.. So invest your time to go meet people, share with them what you want to do and help them find deals or do projects

Good luck out there!.

 This is the way^^ 

You'll realize that cash is a commodity. A LOT of people have it. So your competitive advantage while starting out is time. Invest your time to help experienced people find and do deals. 

But also, yes, house hacking is probably going to make the biggest difference in your life in the short term if you have a decent w2. Or figure out wholesaling.

Good luck out there man! 

You need to look at 3 things.

Capital Expenditures.. Does the roof or any mechnical need fixing or replacing anytime soon (next 2-5 years)?

Lease Info.. When are the leases up? How much are they compared to market rent? How well are the tenants paying? You'll probably have turnover costs if the leases are up soon so you need to be aware of that.

Expenses.. Taxes, Property Management, any utilities paid by owner?, vacancies and reserves for repairs.

Take those three things... Can current rent or soon to be market cover the PITI, 10-15% for vacancies and repairs, 10% for property management (even if it is yourself) and put some cash in your pocket? And do you have enough in reserves set aside to cover any expected upcoming expenses.

Congrats Tenetrice! 

So I wholesale 2-4 properties a month.

Advice that I always give newbies is to JV with someone. Have a local dispo house like Keyglee help find you a buyer. It's going to increase your chance of closing the deal.

Sure, you'll give up half a deal. But it increases your chances that you find a buyer at a higher price and actually closing. Things just pop up during the transaction coordinating phase of the deal.

Worth it while you're learning. Learning on your first deal or so is much more important than how much you make. Trust me! But also.. If you don't JV with someone and you don't find a buyer then you'll learn that you should JV withsomeone. Eitherway you learn!

Good luck out there! 

Anyone here have any experience with wholesaling real estate? My fiance's brother is wanting to get into REI through wholesaling.

We are wanting to help but would like to get a better understanding of laws and maybe some groups he can connect with.

-Adam

Anyone have success with wholesaling in Colombia or can point me in the right direction of someone with experience? My wife’s brother lives near Bogota and wants to get into it. 

We want to help and invest ourselves but just worried about laws. 

Hey Ben, did you end up using them? Had a consult yesterday but seem skeptical of the value and seems like it's a lot of work to take out so many credits cards & unnecessary expenses just to build up credit.

Hey Chase, just had a consult yesterday. I'm definitely skeptical. Did you end up going with them? 

@Charles Seaman - hey sorry, I tried sharing without having to grant access. 

I accepted a few requests earlier. I’ll send you another link if that didn’t work again tomorrow am.  

I created a little pitch deck and financial analysis on a property in Atlanta. I'd love some feedback on how I did. I am also open to hopping on a Zoom to talk through it.

Here's a link to the google drive Google Drink Link