All Forum Posts by: Ethan S.

@Christopher Giannino I'll have to check into a mentorship program. I'm thinking about becoming a full time agent right now but I've had a few people tell me to start out in property management to better understand real estate investing

@Daniel Dexter I'll check out the flash cards! I'm currently doing my prelicense through Career Webschool. It's a tedious process! Slowly getting it finished. Have you considered getting your license in FL for REI?

I'm currently working on my prelicense right now and was wondering what advice agents would recommend to someone new.

@Eric DeVito  Oh man it's funny that you mentioned this topic because I'm experience the same thing on a regular basis and can relate 100%. I'm currently in college studying finance and real estate. My roommate in college constantly doubts the importance of finance, real estate investing, and entrepreneurship. The two of us have gotten into some pretty serious debates over this stuff. I believe that all of the people that are pessimistic, negative, and discouraging gives us another reason to try harder to prove them wrong! 

At the same time, I believe the topic of investing can be a sensitive topic to many people because it brings up the discussion of money. Most people are not open to topics regarding money without turning the discussion into a volatile debate. All depends on the type of person.. Some people are open-minded and some are closed-minded. 

Also I'm in a similar situation with my parents. My mom has a consumer mindset and believes that finding a safe secure comfortable job is the answer to everything and not taking risks. My dad on the other hand has invested in commercial real estate but he doesn't enjoy talking about it because it is too personal & seems to be a stressful topic.

@Rachel Luoto

Hmm.. That's pretty interesting how you came across them! I've mentioned BiggerPockets to a bunch of my friends and not many seem motivated about investing. I've mostly been searching for like-minded people around my age in the area but it's kinda rare. Anyways, thanks for telling me that and I'll spread the word! 

Note to self... Next time I'm at a bar on a tropical beach I'll remember that haha

@Tom Cafarella

@Jeff B.

I really appreciate all the advice given! It sure is a blessing to have such a resource as Bigger Pockets.

@Jeff B. S.M.A.R.T. Goals I think are a good way to help stay accountable. I'm trying to stay focused but I see what you're saying about getting distracted in the smaller details. It's easy to get stuck in a rut with analysis paralysis. There's a ridiculous amount of information regarding real estate.

I'm working on my real estate license right now so I am learning a bunch about all of the contracts and the terminology. 

I agree with you there on the analytics process and not speculating on an investment.  

@Tom Cafarella Thank you for providing me the steps! 

As of now I want to focus on something less than $100,000. Not to say I wouldn't go higher. I would like to start small since I'm new to REI. I believe a single-family home or a duplex fits that price range for my location and what I'm looking for. I've allocated approximately $25,000 to invest in my budget for a conventional mortgage.

Also, I will have to test out the free trial on Follow Up Boss to get an idea how the lead database works. $79 a month seems a little pricey though. From there, I will most likely start out with excel for building a database. 

Tom, You mentioned notice of defaults, vacant property, expired listings.. Would you find that on the MLS? Where exactly do you find that kind of info.?

 @Aaron Smith My long term goal is to reach financial freedom with passive income but that's a long ways away.. I'd like to get into commercial office space rentals but I believe in starting small then eventually getting big. 

I'm not sure we have a REI club in my area but I'll have to look deeper.

Aaron, what made you decide to invest in MFH over a SFH? I know there's differences in the two between the price, occupancy size, and the cashflow. But what made you decide that niche?

Again, thank you everyone for taking your time to respond to me today! 

Hi @Tom Cafarella, thanks for taking the time to respond!

I've pretty much come up with my general outline for the goals. I just spent about an hour researching "lead generating" in the search bar. Pretty much all I have seen so far is discussions about Direct Mail Campaigns, Bandit Signs, and Yellow Letters. Mostly marketing techniques to draw in motivated sellers. Also, I was doing a little bit of searching on building a lead database.. 

They were recommending websites like: Listability.com, realeflow.com, and rebogateway.com

Would you recommend excel 2016 or is this something for Access 2016 or is there a software out there that is worth investing in? I'm trying to find a general template for building leads.

What has been your experience with generating leads & building a lead database?

I was wondering if I could get some advice on setting goals. I have been watching youtube videos on goal setting but I'm still needing more help. I've noticed a lot of people set S.M.A.R.T. Goals. I also read through the Ultimate Beginners Guide for an outline on it too. I have never invested in real estate or even purchased my first home. I was wondering what kind of additional criteria to include. Should I create a full out business plan?