All Forum Posts by: Chris Brown

I know Mr. Kline posed the question if investors just accept losses to get in on a deal, but I am surprised to see that no one suggested making an offer on the property where the numbers make sense. In my limited experience, I thought this was a common practice. As the market cools sellers will find that their properties won't sell at the current prices. As the properties sit on the market an offer in the pocket will start to look more enticing even if it is significantly lower than the asking price at least that is what I was taught. Does this still hold true?  In my opinion, if you are prepared to buy a deal that makes sense, submit offers at a price point where the numbers work for you until someone agrees to your price.

Hello Jake,

You pose an excellent question. I like your suggestion of lending as well to get started however, I do believe having experience would be invaluable in understanding the risk in each potential investment. You can come to the right answer for you, by looking at what your goals are in real estate then working backwards. Investing in Real Estate is such a broad concept, you mentioned the BRRR strategy which is more specific but could still encompass several sub strategies. Would you BRRR single family residences, or multifamily? How involved do you want to be in your investments? Would you drive for deals, swing the hammer in renovations, self-manage your investments or take a more hands off approach? The clearer the picture of what you want your real estate endeavors to look like, and in what timeline, the easier it will be to determine what your next steps should be to bring you closer to your goals. I definitely recommend Bigger Pockets Podcast #447 on vivid vision with Cameron Herald it has helped me!

Best Regards,

Chris

Hey Daniel,

I came across your post and thought I could share something that I have recently discovered in my search for the same experience. I was given the opportunity, through the engineering firm I work for, to donate time to Habitat for Humanity over the holidays, and it was the best free education/experience builder for me. I'm not sure what your current experience level is, but through volunteering with this organization I was able to get hands on experience at various stages of construction of new homes. In addition, there were various contractors, who also work with the program, there to gather information from and network with. In one day I was able to get my hands dirty, learn about construction of various parts of a home from the foundation to framing, drywall, cabinets and counter tops, all while contributing to a great cause and adding to my contractor network! They even have a continuing opportunity for those who are really interested to come back and supervise other volunteer work crews. A great way to sharpen your skills and network with more people. Hope you find this useful and best of luck to you!

Thank you for the warm welcome it is much appreciated! I have begun to binge listen to the pod cast in the car, at work, etc. and there is a ton of great info on them! I've been so enthralled I have to admit the blogs have been neglected but as more pointed questions arise I will definitely be using them. I wish I found this community years ago.

Hello fellow bp members! My name is Chris Brown and I currently reside in Orlando, FL. I am working at an engineering firm specializing in residential and commercial engineering and design. I manage the sole commercial property for Ta Properties of Orlando LLC in my spare time and have some experience as a live in landlord at my current residence in East Orlando near UCF. My Wife and I will be investing/working in real estate more in the near future. I'm humble and willing to learn and network. I'm interested in learning about market/deal analysis for buy and hold SFRs, flipping and eventually MFRs once time and resources allow.