All Forum Posts by: Dylan Beckwith

Hello everyone!

Hope you are staying safe during this unprecedented time.

I am writing today to discuss how to get started in digital marketing for REI? I have a property already (bought from the MLS) and would like to pursue real estate investing further (not via the MLS). I am tech savvy and am comfortable with digital marketing (studied advertising at college). However, I am having a hard time translating my knowledge to REI. Does anyone have any resources or experience on where to start, how to determine a target audience, what platforms should be used, etc.

I am having a hard time finding information on this. It seems like there are a lot of articles on direct mail marketing, but that's not really what I am experienced in. I love online platforms.

Thanks,

Dylan

@Marc Jolicoeur Thank you for this!

@Darrin Carey 

Thanks for the response.

I see a lot about getting a real estate license and being a wholesaler, but little on the difference between a closing agent and real estate agent and the pros and cons of each, specifically within my state. I know people say it is useful, but do I need the full license or can I just get the closing license. 

Hello,

I am trying to get into real estate wholesaling, but am worried about Minnesota's laws. I was wondering if I got my closing agent licence if that would make it more legal or if I would need a full real estate agent license. I tried to read on the difference, but am having a hard time finding something clear.  I want to ensure that I can do the marketing of a property and such without any legal repercussions. Any help would be great!

Hello,

I am trying to get into real estate wholesaling, but am worried about Minnesota's laws. I was wondering if I got my closing agent licence if that would make it more legal or if I would need a full real estate agent license. I tried to read on the difference, but am having a hard time finding something clear.  I want to ensure that I can do the marketing of a property and such without any legal repercussions. Any help would be great!

@Bruce Runn

I do like that philosophy and eventually want to have some good commercial properties. Getting there is the challenge. I don't for see my first few properties being high quality seeing that I have limited capital and experience. 

I see many people are a fan of house hacking. I do think this is a good option. I am slightly hesitant though because I already have a lease signed for a year starting in August. I know I want to travel and possibly try living in a new city once I graduate as well. I would have to find a sub leaser and live further from campus, which is inconvenient for classes, if I house hacked. 

I guess what attracted me most to flipping was that I could do my first deal and, hopefully, have it completed by graduation so I wasn't tied to this market. That being said, I have no experience finding a good deal or estimating renovation costs to ensure I make a profit. In addition to this, I have some funds that would hopefully allow me to purchase the house with cash. Unless the house was pretty inexpensive I would have to find other financing for renovations. 

What attracted me to wholesaling is that there are options that could require very little of money or at least not require me to take out a loan. I would not need to find other financing for rehab as well. What really worries me with wholesaling is there I would have to find a very good deal to turn a profit. The Minneapolis market has pretty high prices right now which may make this difficult. 

These are just a few of my thoughts on why I am drawn to certain areas and not to others. If you anyone has any further thoughts that would be great. 

Hello all,

I'm Dylan from Minneapolis, MN. I am currently a student at the University of Minnesota and a marketing intern for the commercial real estate company Brisky Commercial. Through this position I have really fell in love with the real estate industry. I really enjoy the commercial aspect of real estate, but understand that is not a good place to start. That being said, I am looking to build capital at this point so I can invest in better properties. 

I have been listening to the Bigger Pockets Podcasts all day, every day at work and have really learned a lot. I think the two things I am still confused about (1) the best avenue for building capital and (2) how to find a good area for my selected avenue. 

(1) I have some limited savings and may be able to buy a house if its cheaper in cash. The issue I for see is costs to fix and flip it. I have been strongly looking at either flipping or wholesaling for my first deal. Again, I am really only looking to build capital at this time. I am unsure of what will be a better move with the cash I have. I am a student with little income, so getting a loan may not be an easy option. 

(2) I know there are many areas with better returns than Minneapolis, MN. Houses can be expensive here. I was wondering if it is better to do local or, since I am new, just start by learning an area with better returns and more land lord friendly laws (for when I start holding properties). 

If anyone has any insight that would be great! I am new and have a lot to learn still. I think the best way for me to get a hold is to do a deal, but I feel stuck on where to go from here and how to analyze my best options. 

Thanks in advance!