All Forum Posts by: Devin Dougherty

Hey, I sent you a message, would love to hear back from you!

It's not always what you know, but who you know! If you have a lower budget, try to find people who would be willing to partner with you on the first deal (or couple). Come up with some sort of structure to show your value and why they should partner with you. Ex: you and/or your dad do the rehabbing on a flip property. 

I don't think there is an overall best RE investment strategy, but there may be a best one for you specifically. When working with clients, I like to start at their end goal and work our way back. For example, if their end goal is to build equity and have a good cashflow, we look towards multi family. If they are a beginner investor and are looking to just get their foot in the door, house hack. If they want the "faster money" and are willing to put active work into making that profit, maybe a flip fits them best. So on so on, and of course there is more to it. But I don't think there is a best strategy, just what's best for you at that current time and what fits best for your goals. 

Get to the meetups and groups. Always be in a room where there are a handful more people who are more knowledgable than yourself. Talk to as many people as you can and you should be able to find who you're wanting to! 

Crexi

In my opinion, inspections are a peace of mind kind of thing. That $2500 inspection cost could also possibly save you from a lot more costs down the road. Say you skip inspection, then the plumbing, foundation, or whatever needs replaced after you close. Those are expensive fixes that you could have tried to get the seller to fix or gave enough reason to find another deal to not worry about those big expenses. 

I'm not in MN, however, I would suggest looking at the market stats in each of those areas and take your pick on which area has the better year over year changes. I wish you the best! 

First and foremost, dictate what your goals are, then work backwards to determine what your next best step is. House hacking is a great place to start, which seems like that might be what you're looking to do. When it comes to lending/ financing, get in touch with someone who can guide you through what you need to do, and maybe get creative. See about a seller finance if they're willing. 

Get to as many networking events as you can. There you will meet likeminded people you can learn from on their experiences in your same area. You can also meet realtors there, who should be able to help you find the right deals that match your specific goals. Us young guys have to show up and show out, best of luck to you! 

The magic of real estate is you can buy anything, anywhere. We work with a lot of out of state investors. You just need to make sure the team you have in that desired state is trustworthy and knowledgable, being realtors, lenders, property management, contractors, etc. Do some research on the market you're wanting to get into, and the right team will guide and teach you through the rest. All the way to closing, and even past it.