All Forum Posts by: Ernst S Coriolan

Hi Zlata!

Take a look at the Kansas City/ St. Louis markets. Most of the midwests major cities are worth looking into as many have mentioned. Location should be a part of your strategy as well, so part of choosing the location is what strategy you want to employ. Be sure to sort this out, then build a team, and continually look over deals. Good luck!

Welcome to BP!

Hi Kate! 

You should take a look into the Kansas City market! Be sure to get your strategy and team set up before you start submitting offers. If reading helps you better understand something continue to do it. As with everything take what is valuable and disregard what you don't find value in. I enjoy watching Pace Morby and Graham Stephan on YouTube they have a lot of helpful information. Join FB groups and talk to a few agents in each market you are interested in, they will have a wealth of knowledge to share with you. Listen to the BP podcast and as always be sure to conduct your own due diligence. 

Happy to talk about KC further!

Hi Isaiah

Welcome to BP! You are moving in the right direction continue to seek out advice, reading the forums, and listen to the BP podcast. I also enjoy watching Graham Stephan and Pace Morby videos on Youtube. Don't jump into too large of a property up front stick to your main plan of smaller multi-family properties and you will do well. I also sent you a connection request!

The part i'm stuck on is you are trying to create this because you won't be able to self-manage the properties after you close on this deal. If a PM is needed in the area acquiring a current one to change the culture and expectations would be the quickest route. Creating one is doable, but you would need sometime away from your job to find someone to manage it and then training them on the expectations you would have for the quality of management you're looking for. Conducting your due diligence is always worth while so why not look into it. The worst that could happen is you find out it is too daunting of a task to get accomplished on your own. 

If you don't have the time to manage the property how would you start a property management company? It would take a lot more time to create the company you want, especially if the other PM's are falling short of the standards you are looking for. Do you have a 9-5 job taking up the bulk of your time or where's your time going? I believe this is doable but it would take time and with that large of a deal already in the works I just don't think you could do it in the manner you are hoping for. 

Hi Kevin, this is an unfortunate situation, Caleb is right be careful where you to choose to purchase your rental properties. Sounds like you need a new PM as well, as they are the ones that found this tenant for you and now they aren't helping you deal with the problem that tenant created. 

I sent you a message. 

It would be a great use of bail bondsman and private investigators time. They'd make money just from living. I'd imagine it wouldn't take too long for the squatters to want to get away from someone that just moved in with them. He's right too, this would make a great reality show. They certainly would have one viewer in me.

Hi Manuel! 

If you ever want to gain a better understanding of Kansas City feel free to reach out. Happy to connect!

First off love that quote, I believe I first saw it on a blog by Harvey MacKay. He has a lot of insightful quotes that I like to look to when i'm feeling stressed or lost on what i'm doing. Thank you for reminding me to move at my own pace and all the privileges I enjoy today. My grandparents and father were in a similar situation being immigrants from Haiti. W2 jobs are a grind, but reminding yourself you're building towards something more can be a powerful mindset to have. 

A very insightful post Zachary, thank you!

Hi Danielle! 

You're off to a great start the BP podcast has a ton of information and can answer most of the questions you may have. I would also read "Rich Dad, Poor Dad" by Robert Kiyosaki, that book has a ton of insight. When I was getting started I watched a lot of Pace Morby and Graham Stephan YouTube videos. Pace also has a Facebook group with a lot of seasoned investors that are willing to take a call to answer questions. Keep reading the forums and look into neighborhoods you are interested in and try and sort out your strategy for investing. Talk to some agents and get on wholesalers lists to see as many properties as you can.

Keep doing your research and I'm sure you'll be right where you want to be in a year or two. Welcome to BP!