All Forum Posts by: Amy Raye Rogers

Hi Justin,

Sorry I'm just seeing this. We own small multi-family and SFH in our portfolio. Both can work well! Reach out to me when you are ready to line up some options!

This doesn't get mentioned enough... Off-market "deals" are usually WORSE than on market.  Off-market sellers are generally looking for a sucker and to avoid Realtor fees.  Occasionally, you'll find a true deal.  Having said this, we aggressively pursue off-market deals because the 1 out of 25 that meets criteria is well worth it!!

There is no market that will outperform the one you live in...  They key is having unique knowledge that outsiders do not.  Knowing the nuances of your local economy allows you to capitalize on opportunities others will miss.  Learn your own backyard, maximize that opportunity, and then expand to other markets.  Ever heard of Minot, ND?  As long as investors are answering no to that question, our company still has room to grow!

Why not both?

I self manage my single family rentals because it's saves cost, it's good for my personal brand, and gives me opportunity to convert tenants into sales clients.

A professional management company manages my multi-families because they have better systems and I need to allocate my time to higher $$ per hour tasks.  

Choose AND not OR.  My 2 cents!!

@Matt Schulze

Welcome to the BP community!

I am a Realtor/Investor in Minot.  My husband is active duty military and we have a portfolio of rental properties here.  We have run a few meetups in the past, but haven't done one in a while.  We'll let you know when we do another! In the meantime, let me know if I can help you with any of your real estate needs in the Minot area. 

Last year we cross collateralized our portfolio into a line of credit, unlocking the ability to make cash offers on properties and spin them off into mortgages later.  This has really accelerated our growth.  My brother-in-law, who has much more equity then we do is having a hard time finding a similar product in the Denison/Sherman Texas area.  This is surprising to me because that market is much larger than the one we invest in.  Any tips on where he should be looking to find the right institutional partner? 

Last year we bought a half dozen houses off the MLS buy making fast cash offers within hours of listing. This year we acquired two four unit properties by responding to private landlord for rent ads on Facebook. My husband asked if they were interested in selling... and they were! Both deals are only base hits, but much better than what we would have paid on the MLS. Out next step is to find 12-24 unit apartment buildings. The plan here is to identify the addresses we like and call/mail the seller directly, consistently... hoping to locate private owners who are high equity and over the age of 65. The point is each asset may require a slightly different approach and they all take hustle!

On the investment side, having a second number is preferred.  As an agent, use your personal number.  You need to be fully available (with some reasonable exceptions).  Your clients will expect you to be responsive or you'll lose business.  Availability is key component of success for an agent.

Just a small tip... but we created positions, hired ourselves, and started payroll.  It is teaching us what it feels like to bring on an employee.  Once we find someone to assume that position, we can "promote" ourselves to a higher level role!

Conversely,

Out of state investors need to be sure to 1) have their financing lined up, 2) listen to and value the advice they are being provided, 3) erase any biases they carry from their home market, 4) pull the trigger when advised.  Top agents won't work with investors who do not follow that criteria.