All Forum Posts by: Chris Coleman

@Alain Haug check out Hipster Investments with @ali boone.

https://www.hipsterinvestments.com/

Ali brings a wealth of information and experience about turnkey investing. She also has a Facebook group.

@Kenneth Hynes check out James Eng of Old Capital. He has a YouTube channel. Very experienced but also straight forward.

@Josh Chapman check out a company called CallPorter.com.

I have personally never used them, so unfortunately I can’t give a recommendation. But I do believe they specialize in what you’re looking for.

Another option is to look on Upworks or Fiverr for a virtual assistant. There are plenty of VA's who are experienced in real estate related inbound and outbound lead services.

Hope it helps.

@Chris Sisney you should be able to still partner, especially if all he's done is submit and LOI and apply for lending.

And what does "back at square one" mean? If he's found a deal, and the LOI gets accepted, then keep moving forward. If you're bringing in 50% of the down payment, then y'all will need to let the Lender know that, and they will most likely require that you sign on the loan as well.

@Kelley Mashburn it sounds like you’re looking for turnkey investors. That is, investors who are looking to purchase rentals that are already rehabbed and already leased. I have invested in turnkey rentals for several years.

Research “turnkey” rentals. There are plenty of discussions and blogs here on BP about turnkey rental investing. Maybe some of these will lead you in a direction of how to go about finding more of such investors.

@Mason Fiascone thanks. I was at a REI conference a few weeks ago and some people were talking about how Iowa is becoming a good place for investors. Makes sense.

@Mamadou Diallo you need a way to earn income. How are you going to invest in RE without income coming from somewhere?

If it’s not a college degree career, then find something that is a skill that will pay you a regular income. Then you can take a portion of that income and invest to continually build wealth.

At some point, then you will be able to be a real estate investor full time from the income being produced by your investments. Keep in mind, this is not just about having the money to do so, but it’s also about the time to gain the knowledge and experience you need to do so.

But you have to get there first. And while you’re getting there, it’s far better to have a career or steady skilled job that is paying you a steady income.

@Dominic Daoust first, you want to find markets that are growing. Good rental markets are those that have been showing both population growth and employment growth. Bottom line, you want to own rental real estate in places where people want to live, and the data shows it. There are plenty of reports you can find online about the top rental markets. A Google search should yield reports by companies like Zillow, Costar, etc.

Then, I would suggest picking a market that you are at least somewhat familiar with. It’s just easier if you have an idea of the area whenever you’re talking to agents. For example, I live in the DC area, but I’m from East Texas. So when I first started looking to buy OOS, I looked in the suburbs of Dallas, as its an area that I’m somewhat familiar and can relate when talking about the various neighborhoods, etc. It’s often more important to know what communities NOT to be in.

Regarding networking, start with an Investor-friendly agent. A realtor who has experience working with Investors will often know others whom they can connect you with. Also local property managers are a good source. Find a great property manager in the area and they can be a wealth of help in networking to contractors, inspectors, insurance agents, etc.

@Steven Libman congratulations! How did you acquire this property, through joint venture, syndication, or other?

@Steven Lemoine this is my advice...the debt you have is not good debt. Credit cards, auto, personal loans, etc, are all cash draining debt. They cost you money every month, year after year. Good debt is only if it makes you money, like a mortgage on a rental house.

If you have that much debt, I believe you would be in a better position if you sold the property and paid off those debts. Then start saving or house hacking to invest in real estate.