All Forum Posts by: George Ozoude

@naeem kasper sorry to hear. Curious to know, from you and anyone else... how the response was from the sellers once you had to back off. I’m about to be more aggressive with putting properties under contract in order to do more thorough diligence and anticipate instances like this to arise. To the pros: is this a smear on someone’s reputation within the investor community?

I get what you're saying @Ellis Hammond. Take all aspects into general consideration before deciding on a narrow scope, just so you know the potential of what's out there. And then there has to be sustainable reason why you eventually settle on a specific strategy/target. Agree completely. Thank god we all like different asset classes. 

Another thing I considered today was the fact that so many successful investors harp on the importance of cultivating a system and a team to create efficiency. So focusing one's strategy would greatly help that cultivation process, I'd imagine. Otherwise, you'd need to cultivate and maintain more systems/teams if your scope is broader.

Appreciate the responses. And I agree @Alex Price that this is just one of many questions to tackle as a group starting out.

Thanks @Alina Trigub Do you think even as a solo investor one should narrow their strategy and targets? 

Thanks but I am a bit confused. It sounds like you’re advocating for both. ‘Just look at the numbers...but still have specific goals and strategies for reaching the goals’ We will always look at the numbers to make sense but my thought was that we need to 1. Get familiar/expert in specific strategy (ie large multifamily, in class c or b, distressed, all cash, using BRRR strategy) 2. Limit the extra noise that may come from having to broad of a scope.

I have been meeting with several folks who would like to combine funds and start a real estate investing group. Any advice on whether or not it is good to have a focused strategy/target or more of a broad less defined strategy. 

Personally, I feel like we there are significant benefits to narrowing the strategy down to specifics like certain property type, financing strategy, neighborhood class, property condition, etc. While my colleagues feel it is better to have a less narrow focus and go for any and all deals that make sense. Any thoughts on this would be greatly appreciated.

Are you referring to saving costs on gas mileage and repairs?

So glad to come across this post. I recently posted on this topic and got an answer essentially saying that as long as you buy low enough for either a large or small MFH you should be ok. And so For small mfh you can offset enough of the risk of poor surrounding comps in a down market. It sounds like you feel the large mfh adds an added layer of protection in that you have more control over noi. Are you also saying you prefer them because if this reason?

I am using the BRRRR strategy on small and large MFH. I am needing to efficiently and accurately get repair costs as deals come across for consideration. Any advice on either when in the process or how to start contacting contractors? In general, I have been going with my realtors recommendations. Is there any other route to starting to develop my own trusted network of contractors as I start out here? Thanks BP!

Thanks. I appreciate the responses.