All Forum Posts by: Alex Prescott

Hey Bee! I'm a wholesaler/investor in Springfield.  Message me directly if you want to chat.  

After several months of trial and error with systems, processes, and marketing strategies, I finally got my first wholesale deal under contract!  I'm so excited!  Just need to find a buyer!

I could not have done it without this community.  The help, support, and open sharing of knowledge were absolutely key to my foundation.  I'm sure I would have quit without it.  Thank you BP Community!!

If you are just starting out and struggling to get your first deal, just know there are so many out there with the same struggle.  Just keep at it, believe in yourself, and don't give up!  Let's go!!!!

Newbie wholesaler here. I have about $1000/month I can dedicate to marketing and I have narrowed my options down to two. I am wondering if I should hire a VA cold caller for about $6/hr or send post cards with that money?

Hey would anyone be willing to give some insight on how to properly compensate partners.  I am a newbie investor in the Kansas City MO area and I am looking specifically at two kinds of partners for my first flip:

I need an agent to work with and pull comps often and in a timely manner.  I'm mostly interested in what is the proper etiquette in how to properly compensate them for their time and effort.  Is it enough to let them represent me on BOTH the purchase and the sale?  Seems fair to me.  I plan to set up some marketing and will need to pull comps often.  

I am also interested in having someone to help me through my first flip.  Just someone to come look at the property a few times and help with the reno ideas/budget and who I can call in case I run into something I might need help with.  I'm thinking 25% of the profits would be fair.  They don't have to bring any capital.  Just time.  I would love to hear what the BP community thinks about this.  

I'm learning that the public sites like Zillow don't show sold prices because its not public I guess.  Anyone have any advice on how one would go about pulling comps in the Kansas City area?  Would an agent have that data?  Would Propstream?  Seems like if either of those resources would have access to that data it would be easy for Zillow to retrieve it as well.

Kansas City yeah. So Zillow doesn't have it because of the area? Hmmm can you still pull those records from somewhere? An agent with MLS access? The county? Anywhere free?

Not sure if I'm doing something wrong here but when I sort by sold on Zillow it doesn't display any data any more.  I had been using that as a poor mans comps tool.  Any advice on that or on another free comps tool would be welcome.  

Thanks @Patrick Prunty for the detailed and thoughtful reply.  Thanks to everyone else as well.  

Hi all.  I am a newbie investor with a full time job and have about 20K saved up.  I have been looking at getting into RE investing for some time now.   I have spent the better part of a year learning as much as I can and feel like it's time to take some action.  I want to start with a flip.  My question is how hard is it for a newbie with no history to get a hard money loan?  I've read they mostly like to work with experienced investors who have completed at least a few flips.  Let's say I find a deal and I've ran the numbers and I'm confident that it meets the 70% rule.  How hard would it be to find a hard money lender to fund the purchase price AND rehab?  Are they only going to fund the purchase price for my first deal?  Bearing in mind that I only have about 20K to work with I'm not sure what kind of deal I can go after until I understand what I can get.  Should I just start reaching out to hard money lenders and ask theses questions directly to them.  I don't have a deal yet so that doesn't sound like the right path.  But I feel like I can't look for a deal until I know my price range.  Any help would be appreciated.  

Hi, I'm a newbie aspiring investor and will be moving to Nashville or Memphis, TN to begin my career as a real estate investor in early January.  I will be investing as a flipper/buy/hold investor in single and mutli-family units to start with.  I was wondering if anybody had any thoughts on which market was better.  From what I'm seeing in regards to population growth, unemployment rate, and median housing prices it looks like Nashville would be the more lucrative market.  I was wondering if the investor market in Memphis might be better due to the number of run down houses and neighborhoods.  Anyone have any thoughts here?

Also would like to introduce myself to the community. I am so excited to start my REI career. I have read several books, listened to dozens of hours of BP podcasts, and watched hour upon hours of YouTube videos and am so ready to begin my new career and chart my path to financial freedom. Thanks so much to everyone in this community.