All Forum Posts by: Darryl Lang

Darryl Lang be very careful doing subject to or seller financing in today's high interest rates market.  David Greene made a podcast on why banks are more likely to use the "due on sale" clause right now.  Look that podcast up and listen before you invest in anything.

Welcome @Darryl Lang!

There is so much that goes into this question of yours because the reality is it depends on the numbers.

What do I mean by that?

If you can get a property given to you then you can invest anywhere in the United States and be profitable. The reality is that no one can get a property given to them as a business strategy though :) 

So we have to understand the process and the numbers to make sure our investment decisions are the right ones. 

Before looking at an area I want to have you take a step back and ask what is your marketing strategy?

I ask this because it will determine a lot about the overall plan. If you don't have the budget to cold call, paid ads, etc then you are going to be focusing more on boots on the ground / gorilla marketing that can only be done in your local area. If you have a budget to cold call, paid ads, etc I still suggest not doing it right from the start because you will probably waste so much money in the learning process.

I suggest getting a free list of distressed sellers from your local title company. This could include pre-foreclosures, tax defaults, etc. As long as the list has a problem to solve it will work. Then go and knock the doors, call them, text them...do whatever you can to have a conversation with them. Learn how to talk the talk and most importantly how to listen to what they are saying and what they need. After a short time of this you will become so confident in yourself and your decision making processes.

Find someone local who can help you close these leads and convert them into cash. The money is important but so is the learning aspect. From there take the time to learn the financial side of structuring a deal so you can fully understand all of the moving pieces as there are so many.

Then you can learn how to put deals together anywhere and have them cash flow regardless of location.

I created a free 10 session training on this that should help you get some clarity and direction. It can be found on my Bigger Pockets Blog: https://www.biggerpockets.com/...

Get intentional and stay connected to people in the business so you can learn something new every day my friend!