All Forum Posts by: Jennifer Brown

@Angelica M Garzon brokers are going to be your best source of finding good deals. A few suggestions to make this successful:

- Speak the language. Spend time figuring out how real estate investors talk to brokers and exactly what criteria you're looking for in a deal so you avoid sounding like a newbie. 

- Follow-up with brokers. Don't expect they'll send you an off-market deal on your first touch. You need to stay in constant contact with them and show them you're in this game and not a tire-kicker. 

- Just communicate. If they tell you about a deal (more than likely a marketed deal on your first interaction), analyze it and get back to them on why it didn't work. This alone can set you apart from a lot of other people.

@Jonathan Twombly has a great, free book out there on how to get brokers to take you more seriously. 

Good Luck!

@Sreeraj P. I would agree with @Christopher Hunter that you should have an attorney (preferably one who has experience with multifamily real estate) draft one up for you. That way you can ensure nothing is missed.

@Rachel Damaral you'll want to contact the listing agent and ask for the T12 and Rent Roll so you can underwrite the deal. If the deal pencils based off of your criteria and the deal is in a location you are confident in, then it could be worth moving forward with.

@Art Gonzalez I don't know of any website that will help you build a property management list. From my experience, the best way to find good property management companies is to ask for recommendations. You can call local brokers who have a good reputation in your market. They tend to always know good management companies. Additionally, you could ask people on here to recommend some. 

I took Jonathan Twombly's course and I would highly recommend it. I don't think I've seen his name mentioned on here yet. He has a podcast called Real Estate Launchpad and was also featured on a Bigger Pockets episode.

You will succeed in this business 1 of 2 ways. 

1. Spend time learning it yourself and getting there through trial and error.

2. Spend money to hire a mentor who can accelerate your learning curve and help you be successful faster.

It's really up to you on which way you'd like to go. Time or money. 

Good luck!

@Jonathan Rodriguez I definitely agree with @Lee Ripma that you should attend your local meetups. Additionally, start reaching out to people on here.  You will find syndicators in no time.

@Jason Babos As long as you plan to use a property management company and the numbers on the deal pencil, I don't think it's too much to handle for a first deal. Since it is your first deal, some things to consider before acquiring would be:

- Have you underwrote to account for unexpected expenses?

- Have you stress tested the deal to see how low vacancy could go to still pay your mortgage? Are you comfortable with that number?

- Is the property in a location you're confident in?

- Do you plan on using Fannie/Freddie or a local bank loan? Fannie/Freddie have more restrictions in terms of experience and net worth to qualify.

It's awesome that you're discovering the world of real estate before you graduate college. This definitely gives you a head start to figure out if you want to use it as a tool to supplement your retirement or if it's something you may want to pursue full time. 

In terms of what you can do until you graduate, I'd recommend networking and going to meetups. Get yourself out there and learn from others. Having that network will make investing in that first deal much easier when the time comes. 

Good luck! By the way, I'm an engineering grad too! :)

@Ade’Asim Dumas welcome! The journey starts right here on Bigger Pockets. Ask questions, network, and take opportunities as they present themselves to you. Enjoy the journey! Best of luck to you.