All Forum Posts by: Frank Digsby

@Leslie N Harmon I can understand the frustration. Most Realtors are in the single family market for primary homeowners. After a property is listed a lot of calls come in, some from lookers who are not serious. The requirement for the Pre qualification is the attempt to gain access to serious buyers who will be able to close on a deal.  It requires a different understanding of the process to work with investors who will make multiple offers in a short time period. Aside from the attributes of providing help to solve a problem, the ultimate goal is to make money which is compared against time spent on the deal.

Welcome @Jonathan Gomez to BP.  There is a wealth of information here for you to browse.  

@Chad Clark Welcome

 @Frank Patalano

That is a very important question. There are several things that will delay action in making that first purchase. The first, is the fear, whether it is fear of failure or fear of success. It could also be fear of change and leaving that comfort zone.

Second, is an important one, it is the lack of knowledge about the business. Some will spend a lot of time educating themselves before even attempting to take that important step of taking action. Many people try to make sure everything is perfect before they take action and we know that nothing is ever perfect. The task of looking for that perfect scenario can sometimes lead to analysis paralysis. Some people may even get caught in that scenario for years before they decide to take action, or they may decide not to move forward because it has been so long and nothing happened.

Third, is the access to capital. The newbie’s who were not exposed to any form of, or category of the real estate industry prior to deciding to become an investor, may wonder about how and where to find the cash flow to make the purchases. After some research is done, then the information arises that there are many ways to access funds through private money but that person still needs to get access to the funds by building relationships. That may still take some time but the process has been streamlined by the creation of BiggerPockets to guide us newbies through the process.

The newbie still has to go through the tasks of visiting the local meetings, Bigger Pockets meet ups and other networking events to form the relationships with investors, private lenders, brokers, realtors, property managers, accountants, lawyers etc. After all those things are done then the newbie has to do the most important part of the action plan, which is find the property to be purchased.

In my opinion, these are a few of the reasons that answers @Frank Patalano's question. Some people will work through these one by one, while some may do them all at the same time. The one thing that I believe will help newbies take action is the guidance provided by those that already have the experience. It goes a long way in the development of the newbies and I am sure is very, very, very much appreciated.

@Christopher Cook Thank you, it is always nice to have support and guidance when it matters most. 

@Dmitriy Fomichenko Thank you for the welcome and the recommendations.  I look forward to learning more everyday.

I am a newbie to the real estate investing world located in West Palm Beach, FL. During my research on developing a passive income stream, I decided to venture into the best way which is through real estate. I further decided to accomplish my goal by focusing on multi-family buy and hold. I discovered Bigger Pockets and started with podcast number one (I still have a lot more to go). I am absorbing all the valuable information being presented in the interviews and am now navigating through the posts on the forum. I know I will learn a lot from all your input. I am also going to work on getting my real estate sales associate license to facilitate access to reaching my goals. I am looking forward to learning from everyone.