All Forum Posts by: Anthony Ogletree

As a Realtor, how do I find investors to work with? What systems should I use to direct market my services to investors (especially out of town investors new to the area)? I should probably already know the answers to these questions but sometimes asking them again offers insight I missed the first go around.

Wholesaling is a simple strategy but it is by no means easy to carry out. It requires time, effort, and a good deal of knowledge about the areas of which to want to put houses under contract. You should know a fair amount of cost estimating to be able to recognize a good deal for the investors you'll be selling to, and you'll need some capital to not only run your business but maintain your standard of living until you start writing business. 

Some people say that if you find a good deal the investors will come, but as a family man I prefer the piece of mind to have a buyers list and know exactly what it is my investors are looking for. It will take some time to do this as well. 

Depending on how much capital you have to start, you might also consider getting your real estate license. Having this will give you access to a wealth of knowledge and information about the real estate scenery of your area. As a new investor, your license can potentially become an invaluable tool and speed up your development as an investor.

There's lots of information on wholesaling out there. The best advice I can give is to have a clear cut objective for your investment deal so it'll be easier to find what you're looking for.

Good luck and welcome to BP!

Also, depending on the type of rental investments you're looking to purchase (turnkey or fixer upper), keep in mind there are different types of loans that you may qualify for as well. It all depends on who you go to for financing (credit unions, savings and loans, community banks, a broker, etc). Also keep that in mind in case you have a hard time with the first lender you talk to. Just like investing, financing the deal provides lots of different avenues to explore.

Welcome to the Bigger Pockets Community!

As a fellow semi-newbie, I'd recommend finding some good wholesalers if you intend to do some investing. While it's certainly good have a solid real estate agent in your network, they generally tend to lean on retail properties for their sources versus wholesalers who can find you great deals at below-market prices. Unless you're looking to invest in some turnkey properties, I'd certainly start there.

I'd also recommend downloading the ULTIMATE BEGINNER'S GUIDE TO REAL ESTATE INVESTING. Its a great read for people just starting out.

Good luck Frank and happy investing!

Also be wary of greedy guru's and the like looking to exploit your lack of knowledge for financial gain.

Anything a guru will "teach" you can learn either on BP or by networking with other local investors who will help guide you in the direction you're looking to go.

Find an investor that's doing things how you'd like to and pick their brain. Most investors don't mind helping newbies as they know knowledge shared turns into knowledge gained.

Welcome!

 Thank you! I appreciate it. I have very limited capital but I'm working overtime trying to grow it. I'll call you tomorrow afternoon. 

I don't know how your zoning and deed restriction laws are up there in Calgary, but if you and the city agree on a chosen project and the guy's house stands in the way, can't they force him to sell? At least that's how it is here in PA.

I'm looking to fund my first flip. I don't have the subject property as of yet as I want to make sure my finances are in place for the deal first. I'm looking to make a net profit in the range of 6-8k with a hold time from close to close of about 3-4 months. In all honesty, I want my first five flips to be reputation builders. I'm not looking to make a fortune (early on). I'm more concerned with generating good returns for my financial institutions and investors than a profit in the early going. I'd like to generate trust on the little projects before moving on to the big ones sometime after my first 8-10.

 My credit score is hanging around 700-720*, I have steady income of around 35k/yr, and I have a decent amount of experience cost estimating and general construction. 

Please let me know if you are interesting in investing in my objective of starting my REAL ESTATE EMPIRE.

Thanks to all who at least consider my request.

When you meet with the homeowner, you want to focus on being as transparent as possible. Try to find out what his wants and interests are. Generate discussion about the property without directly ASKING him to sell (at least not up front). You should spend as much time getting him to talk about himself and his situation as much as you can, especially since you don't even know if he's interested in selling. If you can help him see value in selling AND make him feel like it's his idea to sell, then you're in there!

I used these strategies when cold calling leads selling insurance and investment products and sales is sales; whether you're doing the selling or convincing someone else to. Make sure you let us know how it goes!

Agreed! You need to not only be able to support yourself while you grow your wholesale deal, but the deal itself will require capital for advertising  (primarily) and many other expenses that come with business start up. It sounds like you're on the right path though (especially by starting out on BP)!