All Forum Posts by: Brennen Thompson

Hey man! 

The seller is probably trying to test the waters in an uneasy market...

Just about nailed it! You're going to want to look at the comps - sqft, bed/baths, location, condition, etc. and determine how much you'd pay for that property after knowing what the others sold for 

Hey dude! 

I respect the hustle! My best advice is to start networking with people that are ACTIVELY doing deals. Getting around these people will get you familiar with the language, environment, etc. so that you're ready to roll when you find some cash. Hell, some of these people might even start paying you to work for them or let you partner on a deal or two if you can prove that you're smart/valuable! 

@Mario Favetta What are your sources of information? Books, YouTube, etc.? When I began investing I felt the same way... There are so many strategies, opinions, and options that it's hard to know which direction is best. 

My best advice: Do what interests you the most AND makes the most sense in our current market. The interest aspect will keep you pushing when it gets hard and choosing your route based on the market will help protect you so that your investing journey doesn't end as quickly as it begins! 

Hey guys! 

I'm interested in hearing what the biggest sticking point is for new investors? Is it understanding the process/timeline? Is it lending? Finding tenants? Let me know where you're stuck and I'd love to help! 

Hey dude, 

If you're looking for creative finance ideas, Pace Morby is your guy. Guy pumps out a ton of really good, free content. I believe he also sells a course/mastermind. I'm not in it as I'm not huge in the creative finance space, but I network with many investors that are and they can't say enough good things about him/it! 

Hey Dave, 

Definitely a tough call! Before I was in RE investing I worked for The Walt Disney Company, and if I learned one thing, it's that customer service trumps all. Although it may be a tough pill to swallow right now, granting the refund might pay divedends in the future. Especially if you grant the refund request under the condition that they leave you a review. 

Not apples to apples here, but Disney almost always gave guests anything they requested, even if it was at a loss to them. In my opinion, it's no coincidence that they can charge $5 for a bottle of water and get people to stay customers for life.

Hey man, 

The deals are out there! Couple great ways to find wholesalers: 

1. Facebook Groups - I'd throw the state and "wholesale" or "real estate" into the FB search bar... There will be some groups for you to join, post in, and connect with people that have deals. Just be careful because these are not always the greatest deals

2. REI Meetups - Most major (and a lot of minor ones now) have some type of regular RE meetup. I'd start attending, talking to people, and let them know who/what you're looking for

3. If you go on the county assessor site (at least in my markets) you can usually find out who purchased a property. It might be a pain, but if you see that a property sold way under market value, you can always reach out to the purchasing party and see how they sourced the deal

Hey dude! 

In sequential order, I'd go with: 

The Richest Man in Babylon - teaches you some solid money skills

How to Invest in Real Estate With Little to No Money Down - opens your brain to the power of real estate

The House Hacking Strategy - provides a solid game plan for purchasing your first property (it's like buying on training wheels!)

All that being said, you can't beat some solid action! Keep at it and feel free to reach out to me if you ever have any questions! I'm always more than happy to help! 

Hey dude!

We're actually in the process of starting to do some more self managing as well (by making some hires). If you're going to be using a platform like Rent Ready or Apartments.com to manage the rental and you want to stay hands off it might do you some good to find an agent in the area that places tenants/can be your boots on the ground when you need them. Usually they'll take a fee for their services, but it might be a way for you to get over the legal hump 

Hey dude! 

To be honest, I can't speak to how Grant and the like do what they do (because I'm not there yet). 

BUT

If you're looking to be a bigger fish, you've got a good jumping off point with the 6 SFHs that you've acquired. Your equity is your strength! By pulling some of it out or selling some of them you'd probably be able to use the access capital to take down a pretty sizable deal. Scooping up 28+ doors is going to increase the hell out of your cashflow and feel much more like a real business if it's something you think you're ready for!