All Forum Posts by: D’Andre Ortiz

I am going to give a very basic answer. Start telling everyone you know that you are a real estate investor. When I hear organic lead gen the first thing I think of is word of mouth. The more people that know you are investing in real estate.... the more likely someone shows up in front of you with a deal. NETWORK NETWORK NETWORK. This is the absolute best way to get your name out there and start talking to the right people. I hope this helps!

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I recommend reaching out to some local investors in your area. There is probably a standard contract for your area.

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Jacksonville, Florida

I agree with others on this. Another big thing to remember is that even though you may have a lot of "outstanding" debt on the properties... the properties are appreciating on average 4% yoy(some years more, some less). In my opinion that is why most investors are completely fine with being in large amounts of "debt". This would be considered good debt though. This just kind of goes back to one of bigger pockets big principles in using OPM(other peoples money) Obviously as other said if done conservatively it is not as risky as it may seem. I hope this helps!

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Quote from @Trevor Schmitt:

Are you pre-approved? This may be the biggest reason why a real estate agent is hesitant to working with you. As an agent, you do not get paid until you the buyer, closes on a property. Without a pre-approval letter from a financial institution then can be reluctant to spend time working with you.

A realtor that is good at what they do should be coaching you through each phase, introducing you to lenders, giving you updates on the market, showing you different strategies, among a lot of other things.

If you have a pre-approval in hand, and you are willing to sign an exclusive representation agreement, you will have no problem finding a realtor to work diligently for you.

^ That is very likely why they have not helped you yet. As far as what you can expect from a realtor... it really depends on what your goals are. If you are looking to purchase in the next 3-6 months your agent should be making sure you are pre approved as mentioned above and starting to tour properties. Now if you closer to 6+ months out they may just tell you to continue building capital and work on your DTI in the mean time. As Trevor mentioned above a realtor will only get paid if you get through the entire closing process. Otherwise it does not matter the amount of work they put in they will not be compensated. I am an investor friendly agent and am willing to help in any situation you are in. Feel free to message me with questions if you have them. I hope this helps!

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Quote from @Nathan Gesner:

Quote from @Jon Sabino:

Welcome to the BiggerPockets forums!

As others have mentioned, be careful with YouTube "experts." All the education you need is right here and in books that have been proven reliable.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. NETWORK!!! Get out of your comfort zone. Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away. Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area. You can also find real estate investing groups through meetup.com, facebook, or a Google search. Birds of a feather flock together!

5. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

6. Study the market. You can learn to do this on your own or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR that works with investors and knows how to best help you.

7. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error. You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.

This is all fantastic advice! I would like to reiterate how important it is to not get caught in the analysis paralysis stage. This is what kept me and many others from making any progress early on. I strongly recommend trying to single out the main thing you want to do and stick with it. It sounds like that is wholesaling. The worst thing you can do is start that endeavor and switch into multiple types of real estate without first understanding and making progress in the first one. Still couldn't have said it better than Nathan. I hope this helps!

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I think that is a good idea. The only thing I would potentially be weary of is damages to the property. Other than that it seems like you have a lot going for the property considering the proximity making it very desirable. Hopefully keeping it rented. Also I would try to account for the summer months and see if they are certain to commit to a 12 month lease. I hope this helps!

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Milwaukee, Wisconsin

Hell of a way to put it. I will definitely be sharing this anyone next time someone says a home is a liabilty.

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Greenville, South Carolina

I would definitely agree with others that would probably be too much space. 1-2 bedrooms would probably make more sense.

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Welcome Mitch! This is a great community to be apart of to further your real estate journey along. Please let me know if you have any questions. I would be happy to assist!

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Kansas City, Missouri

Quote from @Remington Lyman:

Quote from @Cody M Byre:

I know that I should be close to hospitals and potentially OSU. I could use help narrowing my focus to what is more likely to be successful.

-What is the minimum class of neighborhood I should consider?

-I was planning on getting a MF. Is SF worth considering? (I can borrow 350k for MF but only 275k for SF).

-Am I likely to be more profitable with a beautiful duplex in a super nice neighborhood, or a 3-4 unit in a mediocre neighborhood?

If there are any other considerations I haven't thought of, please share. Thanks!

I think you are overanalyzing your first house hack. When I bought my first property I had zero clue what I was doing. I never even thought about real estate investing.

Just find a 1-4 unit anywhere you feel comfortable living and FHA it. Worry about getting a great deal on your 3rd or 4th deal

I think Remington nailed it on the head. As far as class of neighborhood it is really going to come to what you would feel comfortable in. I personally think in Columbus you can get a great C- or C class MF or SF and the numbers will pencil out with the increase of development in Columbus over the medium term time frame. I am an agent that specializes in central Ohio(Mainly Columbus) so let me know if you have any more detailed questions! I hope this helps!

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Columbus, Ohio

All Forum Posts by: D’Andre Ortiz

D’Andre Ortiz has started 8 posts and replied 43 times.

Post: How to get organinc leads?

Post: My first deal

Post: Does rei mean forever debt?

Post: Realtors job description?

Post: What is the best way to begin learning?

Post: College student renting

Post: Rich Dad says a home is a liability………

Post: Is a 3 bedroom single family house good for MTR to traveling nurses?

Post: Getting Started with Real Estate Investing - House Hacking and SFR - Kansas City, MO

Post: Best options to focus on for 1st FHA house hack / MTR