All Forum Posts by: Blake Alvey

So I’m working for an investor who is sending me deals to sell people. I’m looking for people that would be willing to look over the deals and ask questions as if they were buying the property, questions I’d need to be prepared for. Or just any questions that are common help too if you don’t feel like looking at the properties, everything helps, thanks.

So I’ve been networking and found somebody that is willing to let me work for them;They are letting me look at off market commercial and residential properties so I can find people that would buy these properties. So I’m wondering what would be some good ways to find people that are interested? Should I invest in marketing and run ads? Should I go cold calling? Is there a website or page specifically for these types of people that I don’t know of? Any suggestions are appreciated.

I’m looking to find people in my area that I can work under that would help me learn some of the things books won’t teach you about real estate, for example rehab costs ( I know there is an entire book on estimating rehab repairs it’s just an example ) but I’m finding that I don’t even know who to ask. Should I start asking outside the people I know? Should I just start cold calling places and seeing if they need any help? I know that now isn’t a great time considering the government is shutdown but the question still stands of where do I find these connections?

@Brian Van Pelt

Flipping specifically?

As a 16 year old I don’t have the knowledge of what labor,materials, contractors, etc would cost. This makes it very difficult to analyze properties with potential because I can’t accurately estimate how much money I would need to put into a property compared to how much I could get out. I’m looking for knowledge on how I could learn these numbers so I could better estimate rehab costs

@Phuoc Nguyen I'd say you need to increase your CapEx and vacancy to at least 200$ a month combined, which leaves the question of would your rent at that point be reasonable for the area. Increasing your CapEx and vacancy has no drawbacks, say you have to use the money then you were prepared and if you don't use the money then after a certain amount of money builds up for CapEx it turns into profit

@Ron Singh

I say look at the last recession in the market and research the people that came out on top during that time, now I am only 16 so take everything I say with a grain of salt, but I feel as long as you can afford to keep the properties long enough to outlast corona, you should still be buying properties and expanding your portfolio. People are scared to buy right now just as you are and so people are passing up on deals that you can capitalize on. The market has a way of keeping itself level, when the market goes down like this it has a habit of overcompensating before leveling out again to normal, in which if you buy a property now and sell it during that overcompensation period, you can get the most “ bang for your buck “

As a 16 year old, I have most of my life ahead of me and a lot of time to learn and decide how I want to take my first steps into real estate, but more and more I wonder whether getting a real estate license is the path I should take or not. I feel I could be a great real estate agent and it would be a good way to make money until I started investing but if I could find a way into real estate before I’m 18 ( unlikely but not impossible ) then I think it would be more of a hinderance and something I’d have to schedule around, but then again 2 years of struggle could give me access to mls listings for the rest of my life. Is a real estate license worth it?

My name is blake, I am a 16 year old highschool early graduate that has taken a recent interest in real estate investing. And though I have learned a lot from reading and watching real estate related content, I’m finding that the things that I have left to learn I would need to learn through experience or others experience; as a 16 year old most real estate investors I’ve contacted won’t take the time to teach me the things I want to learn , and rightfully so, they are busy people and have money to go make. I’m here to try to figure out my next steps in my real estate journey. I’m here looking for new knowledge and to be pointed in the right direction. One problem specifically noticing while I’ve been while running numbers on properties for practice is I simply don’t know the cost of labor, materials, etc. this makes it very hard to come up with a rehab/ renovation budget without literally guessing things. All tips are welcome and hoping to get in touch with some very knowledgeable people.