All Forum Posts by: Chris Wilson

Hey everyone! The longer I help people in real estate the more I understand that this is a "people" business. I formed a relationship with an investor and we work together for 2 years. Then the investor ghosted me this past summer and I never heard from him since. We were about to do deals together.

So now I'm trying to find a reliable partner. I'm a realtor so I can find great deals to invest in, but I need a reliable partner who can help with some of the financing. How have you guys been able to find and build great partnerships? Thanks in advanced!

It depends. You could have the tenant pay for all the utilities, but I would only recommend that if that is the normal thing for that area. In Saint Louis MO for example the owner would typically pay the Water, Sewer, and Trash. These utilities can't be separated like by unit like how gas and electric can. I would suggest finding the averages of those three main utilities build it into the rents.  

@Antonio Coa my best advice for you is something you probably already know. Focus on the numbers. Whatever you decide to do make sure the numbers are realistic.

I'm sure you are a smart guy to be able to save 500k. Just stay smart.

Personally, I have worked with investor clients in the past purchase multifamily properties in Saint Louis. So I am a fan of increasing the portfolio to build passive income.

Look around your area or other cities to see if you can find some opportunities. If you got a good team and the numbers are right, I'm confident you will put that 500k to the best use possible!

@Troy Palmer It's awsomeyou are going for it! I'm a Realtor in Saint Louis MO and I always like to give one piece of advise: "Learn from other people's mistakes because you won't live long enough to make them yourself."

So listen and learn from any and everybody when they are talking about how they first got started. This will help you to hit the ground running and avoid new investor mistakes. I hope you can reach all of your investing goals!

I'm a Realtor in Saint Louis Missouri. As many of you already know, many investors for out of state like to invest in this city. I have personally worked with out of state investors who wanted to invest in Saint Louis.

I personally feel that Saint Louis is a great place to invest if your main purpose is adding doors to your portfolio. There are some fix and flip opportunities here as well, but those are a diamond in the rough. I always explain this when an investor reaches out to me and I break down the areas which are good for investors. 

With that said I would like to be be more offensive and reach out to investors instead of sitting back and waiting for someone to reach out to me. As an out of state investor what could I bring to you that would be something of value? What is something that can peak your interest in investing out of state? 

I am planning to analyze deals and provide the most common  numbers the investors look for when investing to peak interest. What would you like to see if someone would message you with a potential deal? 

All answers are welcomed!

Thanks @Kyle Eckert, this is the type of points I am looking for to make sure I can pull this off the most efficient way possible. 

The cash flow seems high for 3 houses? Do you mind posting the numbers you calculated to get you to a cash flow of $3,200?

You guys can look for real estate investment clubs in your city. Many of them have networking events that you can go to. Once you meet a few people, your husband can show them his skills by running numbers on a few deals for them. That should get your foot in the door with a few good investors in your area!

I would focus on asking questions about him and how he got where he is today. This would do 3 things for you. 1. It will show him that you are interested in learning and that you are teachable. 2. You could learn lessons from him as he recaps certain things about his life and successes. 3. You will be able to see if he is actually mentor material for you. Some people can do amazing things but can't teach others how to do the same. 

Also make him your friend. You said that he is a family friend. Make an effort to have your own connection with him. Friends love to help friends!

Hey Corey what are your real estate investing goals? That is where you need to start first. If you say I want to invest in real estate but don't have a clear direction of where you want to go, you won't start.

Once you do know what your goals are you can look at the steps you need to take to get you there. Don't be another person who says that want to do something but never have a plan of action that can be put into action. 

A side note is always based your deals off of the numbers not your emotions. So get good at being able to tell the difference between a good deal and a "bad" deal. I put bad in quotations because in real estate there is always a price that can make almost any deal a good deal. Learn how to figure out what that price is. This way when you start sending deals in you won't find yourself underwater on a property.