All Forum Posts by: Ignatius Okeke

Hi @Jennifer Stammberger this is Ricardo from yourserviceva, we are a real estate agency with non accent cold callers ready to start whenever you want, I'll text you our info on private also

-Ricardo Marquez 

 Hello Ignatius,

The platforms you mentioned work great but would likely require you to build out systems and processes for a sales and/or marketing business. 

I use Attomdata (formerly geodata) which tells you if the property is owner occupied or has an absentee owner. It includes phone #s for property owners as well. It doesnt have info on tenant status but if that is offered on other platforms it seems like a great option to have.

You'll need to cold call and follow up (mailers, calls, visits) with 1,000s of leads for the next year or so before getting a significant # of chances/appointments to convert the leads. Totally doable if that sounds like something you're willing to do.

If you were looking to go that route, I'd recommend getting a Customer Relationship Management (CRM) software to keep track of leads and follow-ups. This probably sounds a little like wholesaling or being a Realtor, and it is.

If you don't want to spend $1,000's to build this out and take on the associated tasks, there are other, more cost effective, options.

I'd recommend looking for potential deals via free (or low-cost sources) i.e. local meetups/networking, Courts (probate & lis pendens lists), Realtors, Wholesalers, properties for sale online (especially those with 90+ days on market), etc.

All the best!

Abel

Hey @Ignatius Okeke - you're facing the same wall that most newbies face when they enter: everything works to a certain degree. 

When it comes to finding off-market deals, I’ve seen investors have success with a mix of these platforms, but each has its strengths depending on what criteria you’re focusing on:

• PropStream is a solid choice for in-depth data, including absentee owners, tax liens, code violations, and vacancies. It also pulls data on pre-foreclosures and auctions, which can be useful for off-market deals.
• Deal Machine shines if you’re focusing on driving for dollars and building your own leads. It doesn’t have as many pre-built search filters as PropStream, but it’s excellent for quickly adding and managing leads on the go.
• Invelo and Property Radar are good for more niche searches like probate, inheritance, and deceased properties, especially if you’re trying to dive deep into public records.

I’d suggest trying out a couple of free trials to see which interface and data best fits your specific strategy.

Hey @Ignatius Okeke one thing to consider is partner up with someone who is a wholesaler or at least has access to these tools. If you source a property and provide the lead, then offer them a kickback if the deal goes under contract. They win, you win. 

Both PropStream and DealMachine are good if know how to use them. DealMachine has skip tracing in the pro membership now which is pretty awesome. Most people who get these apps though are hoping it will do all the work for them. What are you looking to buy by getting one of these and do you have any properties? Are you looking to buy or wholesale? If you are first-time investor looking to buy, you don't need either of these yet because you won't know how to handle the responses.

@Jonathan Greene

Come on! We all know multifamily is the BEST!!

I would agree with Jonathan. It does come down to your goals, your time to allocate, your business sense, your ability to bring or raise capital, and what you are trying to accomplish.

I am personally not a fan of short term rentals, as it appears regulations in many cities keep making it harder. Plus, I think valuations are very high, and it is a full time business, not a side hustle, until you have enough scale to hire out. It is a great way to try to accumulate cash flow with less units, but you need to know where to buy, and underwrite and due diligence are key.

Mobile home parks are a nice asset class, but much smaller. I know they can be very difficult to manage, and many of them are old.

Self storage and industrial are two niches that I think you should also consider. They are both in demand, and appear to be growing, like multifamily.

I would stay away from office and nota big fan of retail strip centers. 

Best of Luck

Gino

This is a silly question. Nothing is the top niche because it's highly dependent on what you are interested in, who you know in that class, what your goals are, and how much money you have to invest in your education and/or assets.

In general, no one new to investing should start with mobile home parks just from an operations and capital standpoint.