All Forum Posts by: Cole Shawd

@Joe Villeneuve can you give me an example of what you are doing in a little more in depth. What you said makes total sense, just looking for more specifics. Thanks

@Joe Villeneuve more leads means more deals and usually more deals means more money. On the flip side if I do 4 deals and sell these 4 in a year for example I make $100k. I only get minimal leads which leads to less deals and less flips lets say I can only do 2 and make $50k in that same year. Lost $50k because of lack of deal flow. I’m in this exact position the last 6 months and losing money now.

I’m a couple years in to my investing career and have been able to build an ok flow of seller leads. I do buy and hold single family homes and am now working into multi family. I have and will flip as well if the numbers and the house work well for it. I’ve been networking with agents, meeting and getting to know wholesalers, meeting other flippers, networking with more experienced investors and pursuing my own off market deals. By doing so my deal flow has increased, but not near what it should be. And I feel like I’m still not making great progress on my deal flow yet and I should be. I’m now to the point that I’m losing money, definitely on the flip side, as no deals = no money.

I’ve done a ton of research on this, but just need a better push in the right direction for a good and fairly easy process to start with on seller lead generation. Then grow it out from there. Im open to any suggestions...websites, lists, virtual assistants, apps, cold calling, knocking on doors...whatever it may be. The ultimate goal is for it to be very time efficient and hire it out even if I have to, but just looking for a great step 1.

@Brandon Coleman. What I would do and what I did is look ahead and where do you want to be with your real estate goals in 5 years, 10 years, etc. Do you want 1 rental or 100. I worked my plan and strategy backwards and it works well mostly because of financing and leveraging to reach your end game. $40k could buy you 4 houses or 1 house. Always smart to start with 1 and learn a lot and go from there. But set the stage with your $40k so you can grow if you want to grow past that one and how does that look.

Hey Brady.  I’m in same exact boat as Jeff.  I’ve been actively looking for my next two deals for months and there are actually way less options as of late as sellers and people needing to sell are hanging on and not making bigger decisions as of now.  Prices are holding steady as well which is good, but hard to find the right deals with less inventory.  Hoping for some deals in Q3 and W4, but if we recover quicker here this summer I don’t think that will happen... around here in the Sioux Falls market anyway.  The goods and bads on being in a solid good market.

Hey Brady - I think the South Dakota market, more specifically Sioux Falls, will continue to hold pretty well in 2020. I think prices and inventory on both sides will be about the same as 2019.  The Sioux Falls market this fall and winter, in my opinion, slowed up some, but I think it was more of just a weird random thing and I feel it bouncing back pretty solid here in the spring.  I continue to search for deals every day all day and it’s sometimes tough because of the good market, but the harder I work to find them I eventually find them.  We need to do a deal together soon 😄

Looking for advice. I just completed my second rehab rental on a single family home. Both are now rented and currently have $35k equity in each one ($70k total) after the rehabs. Unless I throw a flip in here and there continuing to purchase properties with conventional 20% money down can be difficult as we all know. For now I'm looking to avoid private money and looking to BRRRR one of them to get my third. I've been stuck though in my mind not wanting to leverage other properties on top of one another so if and when the market turns I still have solid equity in each property. It is more of not doing it before and new to that process so the fear from that holds me back. To provide more numbers my 3rd property would be a purchase around $70k-80k and $20k rehab max for around $90,000-$100,000 all in property. Appreciate any suggestions and support. Thank you

@Kevin Schultz cozy.co been very happy with it and it’s free. Also tenants can place maintenance requests through it and other simple options. Only downside is the 5 day wait time for money, but for me no big deal.

Getting close to buying my first single family home property and wanted some final thoughts on my projections and this property. I have a solid idea of where everything should sit, but getting final thoughts on the forum will help the confidence on this decision :)

Property is in a growing community of 200k in the Midwest. Nicer lower income area. Quick numbers:

- Buy for $60k, put $5k into it = $65k total

- 20% cash down, 80% financed

- Currently 1 bedroom 1 bath, going to add 2nd bedroom for increased equity and cash flow

- Rent for $800 a month

- Each month after all expenses including vacancy, repairs and future capital expenditures it will cash flow a $100 a month.

For the price of the house, being my first one, building equity off the bat, and ok cash flow...is this a good start for my first single family home? My answer is yes because it checks the boxes, but just wanted some final thoughts or feedback before putting in an offer. Thanks!