All Forum Posts by: JD Gunter

Try Henley's Key Service. I've had them make keys nobody else can. 

Jane,

I'm happy to help you find something!

We are definitely in a hot market. I've written eight offers since Monday and every property has had a minimum of five competing offers for well over list.

The offer I wrote today (1045 Peterson) had ten competing offers, and the listing agent said that's only because he was telling people he already had so many offers that they didn't need to write one unless it was for well over list. This is all on rougher, less expensive, investor type properties, but the other brokers at my firm have had a similar experience with traditional purchases.

Please e-mail me the criteria of what you are looking for and I'll see if I can help. I often have access to off-market and multi-family as well: [email protected]

I bet that place seems like a bargain now! I wrote a contract on a place near downtown today and it had 6 competing offers, one at $20k over list. Since it's near downtown, are you running it as an STR or do you have a long-term tenant?

It depends on what you mean by real estate investment company. There are a wide spectrum of companies that would fit that description.

Most local residential real estate investor companies are relatively small (in terms of the number of employees, not assets or profits) and they aren't going to care very much about which specific area you majored in. It will be nice to have a business degree, but the specifics of what you know is more important.

That being said, finance (and by extension, accounting) will give you a good introduction to the math side of investing, which is really helpful. You may be able to just take a few finance and accounting courses rather than change your whole major. You should also consider which route will mean graduating faster so you can get out there building experience, which is far more valuable than the specifics of your major.

Large commercial real estate investing firms, such as REITs and national brokers like CBRE or Cushman & Wakefield will probably care more about the specifics of your degree and will also offer internships.

Good luck in your career! 

If you can document that extra income, you should be okay, but only the bank is going to be able to answer that for you. I would go see several lenders with all of the documentation sorted out and organized, then just present it to them. I think you'll find that lenders can be dramatically different from one another, especially when comparing national banks to local banks and credit unions.

I would say visit a couple more banks, be forthcoming with your situation, and see what they say. I've had the most success getting HELOCs with local credit unions. An associate of mine has an unusual situation and had difficulty getting a decent HELOC until he talked to one local credit union who gave him a large line.

 That was an excellent episode!

Such a great podcast! I wish all of my clients would listen to it. 

I agree with the description that this is an attainable, realistic method. There are properties available on the MLS if you look, there are good agents than can help you find opportunities, and building wealth through methodical, intelligent real estate investing is possible!

It's not magic or luck, it's consistent effort. My favorite statement was that commitment is the difference between success and failure. So many people I talk to will never get past listening to podcasts, attending seminars, and buying books. At some point, you have to go out there and do it. 

Well done!

I'm getting more involved in commercial investing. The small numbers in residential can mean a lot of work for a little money. I would like to do a lot of work for a lot of money.

I agree with Teri. Off-market does not equal good, and wholesalers won't bring you dramatically better deals than what you can find on your own. Some of the best deals I've done have been on the MLS, and some of my biggest duds were off-market.

Especially in a desirable market like Colorado Springs, there is a reason homes are selling below market. I can buy rough homes quickly for cash, and I expect a certain margin for my service. I'm upfront about that and I don't need to find secret backroom deals to make it work.

Jennifer,

Welcome to Bigger Pockets! 

I would be happy to connect and discuss investing. There are lots of great people to network with in Colorado Springs. These last few months, the market has finally slowed slightly and there are investment opportunities available, especially for cashflow investors.

Let me know if you're available for coffee sometime. I'll message you with my contact information.

JD