All Forum Posts by: Ellis Hammond

@Michael Flood @William Blue dm me and lets connect. also a young investor here in San Diego and connected to a lot of guys that can help. Especially @William Blue if you can still use your VA loan my recommendation is to laser focus on using that. I can connect you with right guys!

@George Ozoudejust connected with you via linked in as well. Let’s stay in touch. 

@George Ozoude great question. Keep me updated on your path. Also am in a similar situation where I represent a large network of investors. For me I keep coming back to what @Ivan Barratt said, FOCUS is key. The more I try and get away from that, the cloudier it gets for me. 

Only thing I would say though is don't focus too early, meaning know whats out there, question a lot of things and  know why you are focusing on say large Multi-family vs oil and minerals. Then, once you have that focus go ALL IN and take MASSIVE ACTION. 

@Patrick Olownia I am in San Diego so I see the same trends you are noticing. What I have learned is that most "investors" buying properties I see on the MLS out here are not looking for cash flow. They are just looking somewhere to put their money and play the appreciation game. San Diego will have its dips but overall ppl aren't going to move away from beautiful San Diego!

With that said, there are still deals to be found. My wife and I purchased a duplex and made it a great deal for us bc we were able to move into one side. We are paying less than what we were paying in rent 6 months ago bc our tenant pays down more than half our mortgage. 

You also have to be more creative than everyone else. Look into marketing towards Probate leads and REO's. Those are still great strategies and deals can be found if you are more persistent than the next guy. I heard recently it takes 5 points of contact to make a sale and 80% of salesmen give up after the first failed attempt. That creates a lot of opportunity for the persistent person.

Good luck with your investing! If you are looking to invest passively in deals or hear more about my marketing strategy in my local market feel free to reach out. I don't have anything to sell you lol.  

@Don Van Nguyen Welcome to the community. My wife is from Midland,TX so we also have lots of family and friends in the Oil and Gas sector. I wish you the best in your real estate investing future. 

Feel free to reach out if you wish to connect more. I started investing with a duplex and currently targeting larger multifamily real estate with our network of investors. 

Cheers! 

-Ellis

Great word @Lee Ripma. Ive been part of both. I loved going the duplex route bc I learned so much but it comes with a lot of work. The other route of getting a check in the mail each month while still owning real estate and no tenant phone calls isn't so bad either. 

I'd recommend continue to interact on bigger pockets, listen to podcasts, and reach out to family and friends who have been part of multiple types of investing. Figure out what you THINK you like and then JUMP IN. Not sure if going the duplex route was the best route early on but it got me going and connected me to so much more. I definitely don't regret it. 

You can't win unless you are in the game. 

@cheri

@Scott Price Thanks for creating a great discussion. There is a wealth of knowledge here and experienced investors represented. 

Your question was "which is better?" well I have found that it depends on what your GOALS  are and how much TIME you have.

My wife and I are currently living in a duplex we purchased and it has been such a fun project for us. We have loved doing the rehab and project over time will be a huge equity builder for our family. BUT we have the time to do this bc we are young and don't have kids yet. We also have time to grow our wealth by holding onto the asset. Our goal is also to build a portfolio of properties in our city to be able to provide housing for folks that we come into contact with through our non-profits.

On the other hand, I also participate in syndication deals with my network of investors bc I find it to be a great strategy for investors looking for solid passive income and a relatively easy way to multiply their money. It's not a jackpot type investment strategy but it does provide avenues to allow you to continue living the type of lifestyle you wish to live. 

Feel free to reach out if you want to talk more. 

Cheers!

Ellishammond.com

Hey @Cheri Crane,

My wife and I also started with a duplex in the San Diego market for cash flow and decided that it was a good strategy but was a lot of work for the little passive income it produced. So we started to target larger Multifamily/syndications and working with partners who are already having success in this business. 

I'd be happy to share more of how we got started and provide any help I can. Feel free to reach out to me directly. 

Cheers!

Hey @Andrew Beshara,

How's this going? did you ever make the jump into US real estate? Let me know if i can be of help. 

@Donovan Warren good for you my brother in wanting to get started and using your connections. Love to connect more and tell you how I got started in syndication and how I am looking to invest using my network.