All Forum Posts by: Damir Kamber

@Richard Balsam I couldn't agree more. I see it daily in the multi-family space. Way too many bad deals are taking place, simply because the money is coming from oversees and nobody knows where it's going. I see purchases in Clarkston for 75K per unit, nuts! Still better to send their money here rather than to invest in Shanghai or Toronto. I'm curious to see how it all plays out.

Cheers,

Damir 

Thanks @Daniel Hyman! Any tips or questions to ask to best find out if they are motivated or not? 

Go-getter mentality is definitely the right way to start in REI. Add patience to the mix and you could be heading places. Best way to do anything mostly depends on the individual and their current situation. Do you have time to drive around and look for distressed properties? Knock on the door and speak to the owners? Would you rather buy lists (probate lists, absentee owner lists, tax lien lists, etc.) and pay someone to professionally mail letters and postcards to the owners? Are you creative and able to make your own postcards and mail yourself to the list of potential owners in distress whose house you identified by 'driving for dollars'? Many ways to approach your marketing strategy. My personal favorite is a fine blend between direct mail/online marketing and relationships. Once you surround yourself with the right people and you bring value, of some sort, to the team, opportunities start to present themselves.

More importantly than getting a deal, what is your why? Why real estate investing? 

Cheers,

Damir

Great seeing everyone the other night! Just a quick FYI for anyone who is looking to purchase smaller run down homes in transitional areas with an intention to either tear down and build larger new construction home or increase square footage to existing. Please make sure you are going to the city and learning more about the zoning of that particular parcel. We recently ran into a situation where the city did not allow us to increase the square footage of the home for few different reasons which completely changed the dynamics of the deal. I'm sure it's common sense to some of you, but it was a valuable lesson for me and I just wanted to share with the team.

Cheers,

Damir  

Will see all you hard working, innovative folks this evening. Should be fun as always! 

Cheers!

@Christopher Sierra it's the last Tuesday of every month @6:30pm. 

Cheers! 

Great mindset you have there @Greg Swartzell. I will throw out a quick recommendation before you move forward in regards to having a corporation. Find 2-3 real estate accountants (not necessarily CPAs, but ones who work with real estate investors specifically) as well as 2-3 real estate attorneys. They will all, for the most part, give you about an hour of their time to consult and ask valuable questions. Just make sure you are not calling them between Jan-May, no one will give you time of day then. Pick their brain about the structure when owning rental properties. I believe you might be thinking way ahead with the whole corporation thing.

Cheers,

Damir  

I ran across modular homes discussion at the most recent episode of the Real Estate Guys Radio Show and thought I share a few thoughts, hoping to attract like minded perpectives. In my opinion, this is definitely an exciting market disruption. Two sides of the coin here. Companies are starting to invest in these in order to provide its employees with affordable housing in areas like the Silicon Valley. The other side of the coin provides an opportunity to solve our nation's current affordable housing challenge. Modular homes are traditionally smaller, which makes them much more affordable to build. They are also built in a factory off site versus at the actual land location. Many interesting advantages to building them. Also, they are no longer the trailer park style homes. Some of these are AMAZING! If they can be built much cheaper and people who would like to own but can't due to various reasons, biggest one being priced out of the market, this creates a real opportunity here to solve arising housing challenges. As Real Estate investors, that's what we are here to do anyways. Cheers, Damir

Looks like another packed house on the 25th! Looking forward to seeing everyone there. 

Very excited for another successful evening!