All Forum Posts by: Hector Perez

I always recommend to use local companies that provide the data or do It manually when you get started

Then, after you close your first deal, use other sources like national software companies to test it and see what works better.

There are many strategies you can use, and all depend on your budget. and every journey is different.

My suggestion is to pick one strategy, learn as much as you can, and take action before considering something else. Just do it for one year, and you will see results fast.

The issue is when you pick one strategy, then a month later, you want to change, then 3 months later you want to do something else, then 2 years later you have not done a deal yet

in my journey, I was broke, so I started wholesaling, then I expanded to Fix and Flips, then to rentals, then owner financing and notes and commercial properties. Now I do a combination of all I learned

good luck in your journey; it is always very exciting to get started.

I am always looking for a combination of knowledge and action. It seems you have been learning a lot about rentals; now is the time to make it happen.

I have a portfolio of about 45 rental properties; the hardest is always the first.

My suggestion is to start with one and keep going until you reach 10, to mee that's my sweet spot, where the entire portfolio is profitable. Of course, the more the better

If you get one or 2 rentals over time, there is always something to repair, so it is hard to cash flow much money, but if you can over time keep adding until you reach 10 units or more, that's my two cents

My first recommendation is to look for a real estate agent to help you understand the market.

You can also do your own research by finding where other investors are buying properties by Zip code in your target area.

Best way to find properties outside the MLS is to get in contact with wholesalers in the your market and reach out to sellers directly by targeting the subdivisions you want a house.

Also, you have to consider how much rehab you are willing to do or if your just want a property that I moving in ready

Best way is to network with other investors, that way you can get the information of what they need.

You can also Google for cash buyers in the area; some may be wholesalers, and others may be real cash buyers, but you have to filter the information.

Facebook Groups is another way

Then you can pull a list of from the MLS of transactions that closed cash and reach out to them

The best buyers are the ones you talk to directly.

If you get a list call each buyer and find out what they need

first, you need to understand what created the motivation for an owner to sell the house, then create the list according to those metrics

Also, you need to have a plan once you get a list, how are you going to get in contact with them It all depends on your budget. 

Based on that you decide if you are going to use free marketing methods, or paid marketing

@Kris Patel, do you have a list of buyers?

I just went to real estate investing clubs and promoted the property for my first deals. That way, you can get real feedback from other investors.

Also, another way is to look for cash transactions or rehabs sold within 1/2 to 1 miles radius of the house you are wholesaling and see if you can find the realtor that represented those buyers as more likely those are investors

reach out to the realtor and see if their cash buyers will be interested in buying the property

Keep in mind the realtor needs to be knowledgeable when working with investors, otherwise, they will give more more headaches than help

if you have limited resources, you need to plan accordingly to your budget.

if your budget is Zero, you need to use free marketing methods like calling all FSBO in your area and landlords with houses that are outdated

if your budget is $250 you can use other strategies like skip tracing, driving for dollars, cold calling or door knocking

if you have a larger budget you can do Direct mailing campaigns but to hard to find list, where the competition is small 

Adjust your marketing based on your monthly budget and be consistent for 3 to 6 months to see results

If you don't have lots of capital, consistency if the key over time

That's a great question. First, you need to find an agent who is knowledgeable and has great relationships with other investors.

But why do you want to give part of your commission when you can do this on your own?

I have been doing this for 12 years; I have never shared a wholesale commission with an agent. 

Reach out if you have any questions!

Good luck in your real estate journey

It is not easy, but you can succeed over time if you are dedicated and consistent.

Don't expect to become wealthy overnight; it takes time

Pick one strategy like wholesaling and learn as much as you can by reading, networking, and taking real action; without action, there are no results, and without results, you cannot make money

Take the knowledge and apply it fast, otherwise you will hit analysis paralysis and 3 years later you have not done anything. 

Reach out if you have any questions!