All Forum Posts by: Erica Castro

Have you used the biggerpockets calculator? There are also a couple other websites that have similar formulas. 

Have you done multi-family before?

 I’d like to hear more about the location and rents in that area. I will also be at the event on Saturday. 

"Did it Flood?" I got that regularly after Harvey. Most buyers had different concerns:

How many times has it flooded? 

Did it flood only after the release of the reservoirs? 

Is it safe? 

Will it flood again?

What type of flood plain is it in? 

How much is flood insurance? 

And so on. 

Knowing what the buyers concerns are than digging into why that is a concern, you are able to overcome those objections by providing solutions.  Hope that helped. 

Hello @Megan Hodges nice to meet you. Kimberly Coreas has done several and she is very thorough. I’ll send you a message with her information. 

Thank you for sharing. 

@Stephen Witkowski

Do you need one?

Depends on your end goal.

Why should I find a real estate agent when looking to buy an investment property?

-You don’t have to. You could do the process alone if you already have all the systems in place to do it.

When should I involve an agent?

-This is so open ended....Have them pulls comps. As an agent I can pull and see what a home was exactly sold for and was it cash, fha, conventional etc. Maybe you come across a good property but hmmmm you don’t know any investors interested in that area that you could pass to them (an agent can see what investors have bought and sold in that area recently). Also maybe the sellers agent is not responding. Maybe you need help with negotiations. The list goes on....

Do you generally have one agent you work with, or does each property have its own agent?

-Most people will say they have one, I say delegate, divide and conquer. If your starting to shift from SFH to multi-family or commercial buildings wouldn't you want to lean on someone thats more experienced in that?

If your going into a new market connect with an investor friendly Realtor there that can provide you with knowledge on the market and connect you with other investors and wholesalers.

Use an agent as leverage. Have them set you up to receive auto emails from MLS, with the criteria you desire. You can do that separately on each site like Zillow, Realtor etc but all those sites feed from MLS. Do not fear us... we are not all terrible, some of us are striving to be investors ourselves.

Happy Holidays! @Cody L. Hit it on the spot. If they have good income and overall credit history shows on time payments than give them a chance, ask for a higher deposit. 

There are also these two articles on BP I have found that might help.

https://www.biggerpockets.com/renewsblog/2010/10/2...

https://www.biggerpockets.com/renewsblog/2012/12/0...

Also if you do eventually need an agent, I'm here for you, we can always come to an agreement on commission. =) 

Thank you for this information!! I enjoy reading articles like this. 

@Account ClosedHit it on the spot. Get into the mindset of "would I buy this house for this cost?" I am encountering many "deals" by other wholesalers only to do the numbers and they are not deals. Make sure you know that ARV and can justify how you came to your numbers. This is a relationship business, the more quality deals you provide to someone, the more they are going to want to work with you. I haven't read any wholesale books only investment and business books, but I am an advocate for Podcasts, I have listened to Max Maxwell here and there, just recently he had Tony aka The Closer on there and he provided some good techniques. Listen to different peoples strategies and advice, what worked and didn't work for them than sit down and create your own master plan. Lets connect.

Happy Holidays. 

Different agents. Yes, I can say, "I'm a Texas Realtor", but I don't know the San Antonio market the way I know Houston. Find the expert and investor friendly Realtor in that area. I would advise going to that market and attend a real estate event and make a connection with someone in that area because they might also know some good wholesalers in the area and they can connect you with them. Build that team, keep it going =) 

Nice to meet you! I work with an investor and we constantly have flip deals with great ARV. I'd like to network with you and introduce you to some good connections here in Houston.