All Forum Posts by: Andrew Schutsky

Thanks Nathan! By far the two biggest contributors to launching my RE business have been through non-stop education and networking.  Both the mastermind groups and meet up events (both in person and virtual) were absolutely critical.  I attended the MFIN and Rod Khleif conferences this year as well as some local Philadelphia meet up events.  I look forward to continuing and actually accelerating in these areas again in 2022.  Happy New Year! 

My advice - think BIG! If the deal is sized appropriately for only one individual (assuming they don't have years and years of experience built on systems and efficiency), perhaps you should be looking at something larger? :)

Richard - Firstly, I think it's really great that you found your way here and you're looking to better your life.  I'd continue focusing on 2 things - relentless education and networking.  This could be in the form(s) of your choice - podcasts (typically free), books, blogs, facebook groups, local meetups (typically free as well), and of course here at Biggerpockets.  Through networking, find some way to add value to another partner or group in an area where you excel.  If you're intending to use OPM, you will need to build credibility and confidence - the best way I've found this to work is to learn and follow closely  from those doing exactly what you want to do.  

7 months later adding to the pile of lessons learned - hope some can find some additional value here!

-If you want to get started quickly, focus on doing ONE thing well and go hard in that direction.  This is especially true if you're in a situation like mine where you're balancing a W2, perhaps a family life, and perhaps some hobbies as well.  :) This could be finding deals through brokers / off market, raising money, asset management, etc.  Don't try to do it all - this will only delay your progress.

-Time spent networking with other investors is time WELL invested.  I've managed to partner up with 2 other investors where we're dividing and conquering and have broken into a new market, establishing rapport with brokers and PMs very quickly.  This wouldn't have been possible alone! 

@Wil Reichard be sure to connect with @Arn Cenedella as he's been successful in this area for quote some time from small flips to mid to large sized apartment buildings.  

Hi Pranav - agreed, it would be good to share your goals as well so we can point you in the right direction.  Are you looking to buy on your own or a small partnership or move into the larger multi syndication space? If you have larger in mind, that money could be used well for earnest money and due diligence costs, etc.

I'd agree I would certainly look outside of your immediate area - perhaps an adjacent market that's growing or has plenty of room to grow.  Would be good to connect with brokers and network with others once you've identified your secondary market. 

@David Murff even if/when you do engage the brokers, I wouldn't look it as a waste of their time by any means.  I'd use it as an opportunity to build relationships as well - just as critical as the underwriting itself.

BTW we are also breaking into Kansas City, we should  connect!

Jacksonville is extremely popular at the moment - many are speculating it's only steps behind the Tampa MSA which is on FIRE right now with many assets trading in the low 4 cap area.  We've been active in underwriting many properties in the area and have a few offers cooking at the moment.  Like many other Fl cities, it's extremely competitive.

Thanks for your input and especially the recommendation - will have to check that out as I haven't come across that one yet.  I'm always up for book suggestions as well :)