All Forum Posts by: Dan Turkel

Hey everyone, my partner and I are currently creating our "We Buy Houses" website. We want to stand out from the rest of all the other similar websites out there and are considering having an "About Us" section where people can see what we look like and learn a little bit more about who we actually are.

I'd also like to have a very friendly, down to earth, and succinct video front and center on our home page with my partner and I welcoming people to the page and kindly encouraging them to give us a call. I expect for it to last no more than 20 - 30 seconds.

Does anyone see any problems with doing something like this? Is it a bad idea to advertise our "real selves" on the website?

Thanks!

@Brian Klein, howdy!

I suggest going to your local REIA - they typically have HML's marketing there. Also, be sure to browse through this page to see a list of HML's in your state: https://www.biggerpockets.com/hardmoneylenders/pen...

Hope that helps!

Dan

Hi @David Mutch, based on the numbers you've provided, this sounds like a good deal. Probably a good BRRRR candidate.

How confident are you with the numbers you used in analyzing the property? 

@Jonathan Perez, assuming the other property meets your criteria and the numbers work, I see no reason not to go for it.

I highly recommend finding private lenders by first letting everyone in your personal network know what you're doing. You may be surprised by who mentions something like... " let me know if you find a good property! I may be interested"

I also suggest becoming a part of your local REIA if you haven't already. This will be a great place to begin making contacts. Maybe this one is in your area? 

If you haven't already read through this blog post or this one, I highly recommend doing so.

Good luck!

Hey @Michael Zack - if your cash flow will drop to zero, that'd be cutting it way too close. You'd likely have negative cash flow which must obviously be avoided at all costs. I recommend doing everything you possibly can to get it rented. Brandon Turner recently said that Real Estate is less about your market and more about your marketing and I find that to be very true.

In addition to having an agent advertise your rental, I recommend posting it everywhere you possibly can - realtor.com, zillow, trulia, redfin, and especially craigslist. Bonus tip: Repost your rental every couple of hours on craigslist so it stays visible until you finally get a tenant in there renting it out at your 3 bedroom price. By consistently posting it, I think you'll eventually find someone interested in renting that will enable you to still cash flow each month. 

Welcome, @Chris Iwasaki!

I encourage you to read books, blogs, and listen to the BP podcasts to learn more about what rehabbing entails. I recommend J Scott's book in particular. I also highly encourage you to start building your network/team as this will be key. Here will be a great place for you to start: http://atlantareia.com/

Good luck!

@Hiral Lai, hello from Hamilton, NJ! I am a part of the Metro Real Estate Investors Association that meets in Iselin, NJ. You should come and join us for our monthly meetings! Just yesterday, I met with Kenneth Hook there. Kenneth is a realtor covering much of northern NJ who is very investor friendly. I'm sure he'd be happy to hear from you. You can find his contact info by going here: http://www.kenhookrealestate.com/

@Bob Woelfel, haven't done this before but a couple ideas come to mind:

1) Utilize the GPS device on their phones and let them know you're able to see where they are. This will probably make them less likely to slack off or take too long of breaks.

2) Explain that you'll have another employee who's sole job is to check the properties that have already received the door hangers to ensure they actually have them.

The great part about both of these strategies is that you don't actually have to do either of them. But by saying you will, it may give them the push they need to do their jobs as if you were right there with them.

Good luck!

@Joshua Mattson, I'm sorry to hear about your father's health. 

However, despite his poor health, I don't actually think it would effect the plan I suggested. He would essentially just need to give you his OK for you to move forward with it. You would then run it from there.The fact that you also have a cousin who could potentially help out makes this potential plan even more feasible. 

While I have not invested out of state, I probably would if the numbers made sense in a good deal like the one it appears you have. 

At the very least, I suggest running this idea by your father and cousin and seeing what they think of it. It can't hurt to ask! I'm definitely curious to hear how it goes...

@Cody Evans, I think your priority should be to network with people in the market you plan on investing in. However, if you have the time now, it can only help to start networking with people in your area now.