All Forum Posts by: Jacob Plocinski

@Justin Stryker

I work in Harrisburg as well, at least 3 days a week. But yea we definitely both went to Muncy haha. I'm currently in Davnille, PA and there isn't really a presence in my area on BP, or at least i haven't been able to find it. I'm probably only about 6 months into learning about real estate investing.

@Andrew Bosworth @Missy H.

The one thing that I could take action immediately was to make that personal contact step. He was a firm believer that taking that extra step to create that personal contact goes that extra mile and alleviates future problems. Along with embracing the awkwardness that any new contact/networking relationship.

The best piece of information he gave me is the way he views his real estate. He's a firm believer in the "Top Line Thinking". He said there are 3 rules to this way of thinking 1. Revenue before costs 2. Better before cheaper and 3. There are no other rules besides the first two. He backed this up with the goal of his properties being something people want to rent opposed to something people have to rent. He does a lot of amazing things for the city of Harrisburg and I can definitely tell he loves the win-win situations.

He was an absolute goldmine for great, positive information and he really helped put a lot of the intangibles aspects into perspectives that are actionable. I'm probably going to reach out to him in another month after I learn and research my own market a little bit more. Thanks guys!

@Missy H. @Andrew Bosworth

I met with the gentleman this morning and it was awesome. He offered some really great advice and some concepts that they practice as a business. Left me with some great intangible criteria to keep in mind as I pursue properties. Overall it was a great experience and I'll definitely keep the line of communication open with him. Thanks for your advice, I really was just over thinking it haha.

@Ned Carey

Thanks for the advice Ned. Right now I'm devoting one day on the weekend to drive/walk my market. I'm concentrating on MFH. My partner owns a 4 unit and we're probably going to focus on minimum of 3+ units, unless the numbers look really great on a duplex. I think making the databases is more to have a reference that is easier to use than any of the current local websites. I'm currently reaching out to all of the local real estate brokerage in an attempt to find one with real estate investing background. I'm thinking in a month to start seeing listed properties. The advice is great and very welcomed though, thanks again! 

@Russell Brazil

Thanks Russell, I hope to be that knowledgeable some day. I'm trying to take all of the little steps and really get my footing and that general base of knowledge. My business partner has experience in my market, but I want to bring something to the table other than capital. I want to be informed and offer additional information that he may have overlooked. I like the "outside of the box" thinking. Thanks and you definitely give me something to aspire towards.

@Gino Barbaro

Amazing website BTW!

@Kyle McCorkel 

Excited to share notes/ideas. What you provided is already great in developing my database. Thanks!
@JD Martin

@JD Martin

Thanks for all the information and advice. When you say "I generally do not consider any houses in my market for more than $100k" do you only look at listed properties at 100k or do you look above that threshold, evaluate those properties and try to find potential overpriced and offer? Just curious. Thanks!

@Gino Barbaro

The current asset class I'm looking for is multi-family with 3+ units. Along with some specifics on cash flow. Thanks for the insight on looking at job growth in a market, as well as population/household growth. It's something I had thought about, but wasn't sure on how to evaluate it. Thanks for giving some starting thresholds. My current market is pretty small rural towns, so some of the bigger sites usually don't list the towns that are part of my market. I think it'll just take a little more digging and talking to real people in County offices.

I’ve decided on some basic criteria to filter potential properties in my market. Thanks to The Millionaire Real Estate Investor, awesome book! I’ve now started to actively track and research my market. I’m pretty good with databases so I’m in the process of developing one for local rent rates and one for local properties. I like building systems and the idea of scaling in the future is also enticing. I’m in a smaller market in Central Pa and the bigger websites (Trulia, Zillow, etc.) offer decent information; however, not specific enough for my tastes. I’ve committed one day each weekend to walk/drive my prospective neighborhoods as well as network with local real estate agents/investors.

The next big step for me is to start walking through properties that fit my criteria. My question: When you were getting to know your market what tips/tricks seemed to work best for you? Is there some type of information you tracked that helped in your specific market? Any and all suggestions are welcome. Thanks for taking the time to read this and best of luck!

@Account Closed Thanks. Probably some of the best advice I've received. I find myself right now in the spot between learning about real estate and learning to evaluate deals/offering on deals. On a positive note I've partnered with a friend who already owns a multi-family unit. I'm going to use his knowledge of our target area and pool our capital for his next and my first purchase. I'm close to buying that first property, I just want to get a better grip on my market and evaluating the property in general. But, thanks again for the advice! Best of luck.

I read The Miracle Morning over 2 months ago after listening to the Hal Elrod BP podcast. I decided to do the TMM and it has definitely changed my life in a positive way. I was always super skeptical that a mindset/belief system could have that big of an effect. This is ironic because I loved psychology so much that it is my bachelor degree concentration (I feel like I fell victim to some secret psychological fallacy here, haha). I’ve read a lot of mindset/belief/etc. type books and none seemed to have a lasting effect.

I am that typical person who gets super excited for something, learns all they can, but in 6 months I either overdo it or become interested in something else. I knew that I didn’t want this to happen with real estate because it is a definite vehicle to achieve my long term big goals.

Cut to the point of this post; I’ve decided to complete 5 mini-goals each day. I broke it down as follows:

• 1. Reach out to someone new involved with real estate.
• 2. Learn about something specific (analyzing, managing, etc.) in real estate.
• 3. Analyze/Research my market.
• 4. Review a part of my big goals.
• 5. Clean something.

I was trying to be practical and specific. I intend to complete this at the end of my TMM each morning that way I have a tasks for the day. I’ve decided that each task will take up no more than 30-60 minutes. Finally, this brings me to my questions/discussions:

What has caused the biggest changes in your life that is now part of your daily routine? What routine has helped you build a career in real estate? What things at the beginning of your career really helped push you in the right direction? What would you swear by as a determining factor of your success? Thanks for taking the time to read this post! Best of luck.

@Missy H.

Thank you for the advice. I'm most likely over thinking it. I did run into his brother today and he had mentioned that he is pretty laid back, but very business oriented. Just from that quick conversation I think I'll be fine.

@Andrew Bosworth

I found out today that he is a part owner of the coffee shop that he requested we meet. Regardless thanks for the advice. Sometimes it's great to just have someone confirm what you were already thinking.