All Forum Posts by: Account Closed

I came across Reonomy.com that specializes in commercial/multifamily property research. A fellow investor gave me a negative review of the site based on his experience. I've never used the site and I don't have other reference points. I'm curious if anyone has used Reonomy and what was your experience. Also, are there other sites like this out there that specialized in commercial or multifamily properties that are reputable?

As a newbie RE investor (I'm barely 2 mos in) every day I learn something new and exciting. And just about every day, I question why I want to be an investor lol. It's a lot! I haven't closed any deals yet, but I'm not rushing this either. Slow and steady is my motto. I'm going the route of wholesaling because I have a small budget. While I've gotten conflicting opinions on whether this is a sensible way to enter REI, I'm going to pursue it this way, while keeping an open mind.

I truly appreciate the advice, recommendations, and experiences that have been shared with me so far. This has been through FB groups and BP, because I don't have a network locally that I can tap into. But I'm working on that. 

My question to those of you who are experienced or have been at this a while, what is the most important advice(s) you would give a new investor starting out? What advice would you give them that you wished you had known when you started out? 

I look forward to the day when I can pour my knowledge and experience into young investors and give back to this community.

@Darren Lenick Thanks for sharing this value information. I won't be repairing this house.  I would like to wholesale it. However, I would like to have a proper inspection done so I have an estimate of repairs for negotiation purposes. Locating a GC to do this for me has been a challenge. I'm more than happy to pay for the assessment. If you are able to recommend a GC that would be most appreciated. If not, no worries. 

 Great idea. I have the Deal Machine app and I haven't used it but I definitely need to figure out how to.

@Dominik Makaneole very true. I saw her story on BP's youtube channel. It was incredibly inspirational.

@Caleb Heimsoth Ah got it. Yes buying properties for rentals will definitely take a lot more than $5k. I'm working to level up to that strategy eventually, but not right now.

@Shiloh Lundahl Thanks for your POV. I'm taking in all the opinions/advice, doing my due diligence and going from there. I see a lot of experienced investors suggesting to connect with other wholesalers. In theory, it's a desirable idea, but it's much easier said than done (and understandably so). Partnerships like that have to start on a foundation of trust and if you don't know someone, trusting your deal to them is hard to do. I'm new to investing so my network is very small, but I'm working on growing it. It would be great if those recommending partnerships would also recommend someone who's open to doing it. All the same whether I find someone to partner with or not, I'll move forward making efforts toward my goals. 

@Caleb Heimsoth what strategy are you suggesting I save more money for? Your answer was very vague. It seems some investors are having success with little money doing wholesaling so I would think that 5k could go some distance with this strategy. 

@Jamiel Strickland I just viewed your video and it has some cool ideas. Cheap and free lead sources are always good to know. Thanks for sharing it.

@Rita Medeiros I'll definitely check out the group on July 31. Thanks for sharing about it.

@Sandra K Shirah that's an awesome site. I wish they offered properties in other states beside LA, TN, and MO. Great idea though. It's made me interested in finding a site like that for my area.