All Forum Posts by: Ethan Neumann

All of the above. if there is a house that isn't abandoned but still looks like it's not being taken care of, that could be an indicator of another issue. Maybe they don't have the money to keep it up, maybe there is someone renting it and the landlord isn't taking care of the property. 

How much do they want for it? Honestly, it comes down to your preference. 

I wouldn't do it personally but that doesn't mean it's not a bad idea if you don't have that much money starting out. I just prefer to know exactly where my data is coming from so I can keep KPIs accordingly. 

There are no pros or cons. It all comes down to the numbers. If there is a FSBO online and you can negotiate them to a number that makes sense then go ahead!

However, in this market, most properties that are posted online are getting swept up by homestead buyers who are paying crazy numbers. 

There is the purchase agreement and the assignment of the contract there. 

Look up "max maxwell wholesale contract" on google. I used those when I first started!

I've been searching the podcast world for different multifamily podcasts for a little while. You wanna know what's interesting? 

It seems like some of the best episodes have been from the "smaller" podcasts... people that only know from my social media feed. Do you all have any recommendations for podcasts that get down into the nitty-gritty information?

@Chris Levarek I like the insight. Yeah, I'm looking to go all-in on multifamily. I can see how partnerships with people doing two things at once could be tough. 

@Erik W. 20-30k gross right now. We definitely have momentum, expenses are low (4k-5k) per month. Everything does get split between us.

I budgeted for one year of no income from syndication. We should have around 75k to walk away with (my partner and I) and more in the pipeline, just not gonna generate new leads.

I just feel like going 50/50 on two things isn’t really 50/50... it’s more like 20/20. If that makes sense.

Congratulations on your success so far! This industry, and the BP community, has changed my life in ways I never thought possible. Just curious, what kind of books are you reading? Some of my personal favorites are Relentless and Leaving Microsoft to Change the World. 

I am running a wholesaling operation right now generating about 20-30k a month. However, with three partners, we're doing all the work ourselves besides one VA. I'm making the jump to multifamily and want to go all in and put the blinders on. I have some people agreeing with me, however, others say keep the wholesaling biz going and just split time between the two so you have more capital.

Thoughts?