All Forum Posts by: Amy Heitner

Hi Moe, thanks for sharing that! That is definitely what most people want, to be passionate about our job, be able to provide for our families and eventually be able to enjoy retirement:) Eric does make a good point, sometimes starting small and working up to multifamily is the way to go, that would depend on you and your wife.

I am not sure what you mean by lending for flipping, but I am sure it would depend on the property and the lender, if the property needs a little work but you could flip it for double the purchase price, I can't see a lender saying no. That would require some number crunching ;) What I can say to that is do your research and pick the type of investing and investments that will help you and your wife reach your goals.

If you want to connect, just send me a colleague request and I would be happy to share some resources you might find helpful!

Hi Moe, 

Great question and no need to apologize:) A realtor is a licensed real estate agent while a broker has additional licensing, can work independently and may supervise real estate agents. Building relationships with both agents and brokers in your area can lead to deals.

That is a very true point, it is all about who you know! It sounds like you have some good connections already through your business! Funny enough, I didn't start out in RE, but just providing a service to RE investors (about 20 years ago). After attending lots of events and talking to others, we decided to start investing passively. We always wanted to be involved in RE, but didn't have the time, as you mentioned, because of running a business. 

So now my husband and I invest passively, but our main focus is helping active investors - syndicators - build systems to automate their marketing and follow-up so they can raise more capital and scale their business. I have come across a few deals locally that I seriously considered just by keeping an ear to the ground. Another investor who had a portfolio and was ready to retire, for example.

That is awesome that you have the desire and are trying to gain as much knowledge as possible. A big important step though, is getting clarity on what your goals are as that will impact the decisions you make and the ones you don't. Why do you and your wife want to get into real estate? What are you hoping to accomplish? What does success look like to you? The answers to questions like these will help you figure out where you want to go and then it is easier to make a plan to get there. 

Keep learning and looking and happy investing!

Hi Moe, 

Patrick mentioned it above, building solid connections with brokers is one of the best ways to find multifamily deals. Reach out to the brokers in your area, even if they don't have any properties you are interested, you can let them know what you are looking for and it is an opportunity to make that connection. Keep following up to let them know you are serious and to continue building that connection. 

Connections with local realtors, contractors and property managers can sometimes lead to a really good multifamily deal too. 

What are your goals with your first multifamily property?

Hi Mitchel, 
Sounds like you are off to a great start! Events are a great place to make those connections but also don't be afraid to reach out to brokers and agents in your area directly. Tell them what you are looking for and keep in contact. It takes persistence and patience but a lot of people have built successful relationships that have led to great deals that way. 

It is also good to think about how you are presenting yourself online. Having a credible online presence these days shows people that you are legitimate especially as you are entering the space and trying to form solid connections. So being present on social media is important, but even a email at your domain, although that might seem small, can make a huge difference in how people see you! Feel free to DM and I can share more info. 
Happy investing:)

@Kris Marmol

That is a broad question but I will say targeting who you want to reach and what problem you can solve for them, will help deliver the messaging that is going to resonate and engage your current audience. You can use social media as part of your paid ads strategy if you have your messaging and your audience dialed in. But posting generic content won't work. 

For example, posting to everyone "Real estate is a great investment" may be intended to appeal to everyone, but no one will engage because it resonates with no one.

As opposed to "Are you a doctor in NY struggling to diversify effectively and grow your wealth while maintaining a demanding medical career? With limited time for financial research and aversion to high-risk ventures, navigating the complexities of investment strategies can be overwhelming without the right guidance. Many physicians fail to diversify effectively, leaving their wealth vulnerable to inflation and market volatility."

Now someone in that situation is going to think, "Yes! Exactly! I need help with that!" That's when they engage.

Big difference.

I hope that helps:)

Hi Kris,  
If you have an existing investor list, you can request referrals, even offering some kind of incentive. It'll keep your existing investors happy and widens your reach. 
You can also reach a larger audience by being a guest on podcasts, having a credible online presence and being active on social media. Sharing educational content can present you as an authority helping you attract more passive investors. 

If you go through brokers or even reaching out to sellers, it's a good idea to keep in mind how they will see you. Things like a website, an email at your domain and credible social accounts (even small things like a profile pic and bio) can show you are a legitimate business. Most times, the top of a brokers list are those with experience who they've worked with in the past. So making sure you are presenting yourself as credible and trustworthy, can make a huge difference in building the relationship and hearing about those off-market deals. 

Hi Brian, 

Welcome to BP! It sounds like you are off to a great start already especially by educating yourself! 

If you decide to go the multifamily route, Real Estate lab .com is a multifamily software for deal analysis plus they have many other useful features. They offer a demo too, so you can see if it is exactly what you are looking for:)

Just a small note to keep in mind as you are starting out, making connections and looking for deals, keep in mind how you are presenting yourself. Simple things like a branded email at your domain and a website can open a lot of doors. 

Happy investing! 

Greg makes a great point about reaching out to active brokers, those connections can be invaluable. Its also a good idea to build relationships with realtors, contractors, insurance agents, real estate attorneys, and property managers in your area so take advantage of events, conferences, and meetups. Having these relationships can easily lead to really great deals that you likely wouldn't have come across without those connections. Happy investing! 

Hi William, that's awesome you are thinking of taking the jump to multifamily! A mentor can be a great idea but make sure they have walked the walk and align with your goals. As you mentioned, there are plenty of coaching programs that cost a small fortune and may not be all that helpful. Sometimes the best way to find the right type of mentor is simply growing your network and going about your business. You can also learn a lot by doing your research on underwriting and finding the right deals. Plenty of successful multifamily investors have written books or have podcasts where you can learn a lot for almost nothing. I would also keep in mind that very often it is not so much the decision itself but the decision maker that determines the success of a course of action. Multifamily is a solid strategy and with you and your partners real estate experience, I'm sure you will find success.