All Forum Posts by: Emilio Basa

@Anshul Jain @Brian Campbell - Google and the BP forums are a good place to start for a broad search. Once you pick a market then dive in a little deeper. Again Google search or BP forum, but now that you know the market you can start reaching out to your potential "team" in that market as well. It's helpful to network with people that are actively involved. People like real estate investors, agents, wholesalers, property management companies, contractors, etc... If you just ask the places to invest then they will tell you. 

However before you start asking make sure you know what YOU want. Everyone is different. Some people want the high returns, but they're willing to put up with a lot more headache like high tenant turnover. Some people want lower returns with steady cash flow. Some people want SFR (single family residence) or multi family (2 units+). It all depends on what YOU want.

Once you have your market, and your contacts set in place you can start scanning the area for deals. Try and do the 100/10/3/1 rule. Look at 100 properties to find 10 potential deals. Make 3 offers on the deals and 1 will be accepted. I work in the Detroit area which is targeted as one of the hot markets in the mid-west. I can answer any questions you have. 

Also it's helpful to fly to the market to get a feel for the city and surrounding areas, but it's not necessary. If you have boots on the ground they can take photos and video of what you need to see. I do that for some of my clients and they've found it helpful. Good luck!

@Account Closed Network with realtors and wholesalers. Join your local REI group as well. Know what kind of returns you want to make and your buying criteria. Take your time and try not to rush into it. No FOMO'ing. lol.

I would also suggest going to your local REI groups. Books are great but actually getting to meet other investors and talk to them about their success deals and their loser deals. Also the education you get from REI groups is extremely inexpensive.

@Michael Harris - Will do! That will give me some goals for shooting my next video. I'll drive around the subdivisions. Any particular landmark or cross roads you want to see? 

I'm from the Detroit area. Our market is pretty good right now but deals are getting thinner and thinner especially for multi families. How is Cleveland with multi-families? I should take a drive down and check out the area. 

@Olusola Abitogun - You own title to this or you're wholesaling? Is there a lockbox on the door if I wanted to go in? 

@Hailey Brown @Michael Harris - Thanks guys! I already shot the firs 2 videos. However I'm a real estate investor and not a vlogger. I'm going to try and edit them as best I can and upload them. After shooting the first 2 I realized all the mistakes I made and what else I needed to include. Like facts and statistics. 

Please let me know what you'd like to see and I'll shoot them for you :) 

@Olusola Abitogun - Do you have pictures of the interior? This closing on Warranty Deed? 

Hi @Hailey Brown. Thanks for replying. The major opportunity I see right now is the growth in the job market. Dan Gilbert (owner of the Cavaliers) pretty much bought up Detroit when no one wanted it and has really turned the city around. Also Mike Ilitch who owned the Detroit Tigers, Little Caesars Pizza and the Red Wings built the new Little Caesars arena downtown. 

There is still some work that has to be done to the city, but momentum and demand is definitely there. The city (as far as size) is huge. It's approximately 140 sq miles. So there's a lot of city that needs work but also a lot of development as well. 

Downtown has been the largest development so far, but it's reached out to Midtown, New Center, University District, Bagley, Indian Village, etc.. I am working on a vlog right now giving a street view of the areas. Vlogging is not my specialty but when I start posting them I'll let you know.

Any other Detroit investors on this forum? 

@Sharon Tseung - I would consider the metro Detroit area for real estate. The city is making a great comeback. The development in the downtown area is stretching out to the other areas of the city as well as the suburbs. I have a team here that includes a construction company, property management and brokerage as well. 

I just did a deal with some buyers from Australia and before they came over I took photos of the property, took video and also drove around the neighborhood and filmed it so they can get a good idea of the area. Of course, they eventually did fly over and got to meet my team as well as take a tour of the area. 

Which ever market you pick, make sure you do invest some time to meet your team and get a feel for the city. Good luck and let me know if you have any questions :)