All Forum Posts by: Joe Aiola

@Tanner Ladsten I agree with @Randall Alan - if you can beat the 4.5% auto loan in real estate, then go that route. It wouldn't hurt to talk to a few lenders, though. If you aren't able to qualify for a great mortgage, and the car loans are hurting you, then maybe it makes sense to attack the car loan first. Paying off the car loan first also doesn't mean you necessarily have to put real estate off for a year, because you could change your strategy a bit and find a partner to work with.

Hope this helps and good luck!

@Hussain Mohammed congrats on getting started so early! Great post - you are probably already way ahead of most people at 19. 

I would say that you should make marketing yourself your number one priority. You need to get your name out there so everyone knows you are an agent - you want to be the first person they think of when they need to buy or sell. Network to expand your relationships, and then make sure to consistently follow up to keep the relationship there. Add value to people and be great at what you do - your reputation in this business means a lot.

Hope this helps and best of luck.

@Ari Hadar you got some great advice from @Sean McDonnell and @Antonio Cucciniello.

I would just add that learning the rental market is like anything else - you need to watch it every day until you are familiar with the pricing. Go on Zillow, AirBnB, talk to agents and property managers in the area, call rental signs in the yard to speak to landlords, etc.

Hope this helps and best of luck!

@Miguel Bautista you are certainly not alone - a lot of buyers are going through this same thing with the market being so hot. @Bob Okenwa gave outstanding advice - I would read his response a few times. 

I would just add that being the first offer could help as well. So when a property first comes on, you can't waste any time. Or you can look at properties that have a long DOM and try to be the first / only offer there. In a hot market like this, the sellers can be frustrated if they have been on the market for awhile with no bites.

Hope this helps and best of luck!

@Stacy Morris Is your goal to get the seller to list their property with you as an agent? Or are you looking to purchase these as investments and keep them off market? Obviously, the letter will have to be different depending on the goal.

In either scenario, though, you want to be straight to the point. People most likely aren't going to read a full page letter. For example, if you're looking to purchase the property, maybe the letter looks something like this:

"Hi (Insert seller's name),

My name is ______ and I'm an investor in the area. I drove by your house the other day and would like to make you an all cash offer. Please call me at ______ to discuss.

Look forward to hearing from you.

Best,

______"

This is obviously just an example, but hopefully it gives you some ideas. Be prepared for when they call back - you should be trying build rapport and to set up a day & time to go see the property.

Hope this helps and best of luck!

@Jason Alexander You have some good responses from @Aaron K. @Adam Azam and @Pat L.

I would just add to consider the amount of sqft you need and the goal for the property. If it's a flip and the competitors in your market use laminate, then by all means do that. But if it's a long-term rental and only a 2 bedroom apartment, for example, it might make more sense to do hardwood. It will be more money upfront but will last much longer and save you down the road.

Just some food for thought! Best of luck!

@Jonathan Davis Congrats on the flip! I don't know any lenders who lend in TN but you made a good decision by posting here - BP is a great way to network. I would also suggest looking on LinkedIn if you haven't done that already.

Best of luck!

@Brad Annen I agree with @Derek Felch - driving for dollars is a great way to get you off market deals. Just understand that it takes consistency. You may have to call 5, 20, 50, or 100 houses to get a deal. Following up is also critically important. Call each house once a month to stay top of their mind.

I also wouldn't limit yourself to just driving for dollars - you can purchase lists through a site like Listsource.com to target a different audience. Again, this takes consistency. 

Hope this helps and best of luck!

@Yonatan Cintron Great post and great advice from @Grace Wang. You should view getting your license as an investment, not just something to get for an experience. It also heavily depends on your goals. 

If you plan to just buy one rental a year, for example, then there's no need to get a license. You can just find yourself a good agent in your area to help with that. But if you plan on doing several deals a year, then there's no better way to learn the market than having full access to the MLS. Having your license gives you negotiating leverage as well.

Hope this helps! Best of luck!

@Brian Pevarnik Great questions. Investors are always looking for opportunities / leads. Spotting properties on the MLS that may have hidden potential, getting off market leads, etc. This is a great way to add value to an investor.

Having solid connections is also valuable - lenders, handymen, property managers, etc. Other than that, just focus on being great at your job. Things like being responsive, knowing the market inside out, and negotiating, for example.

Hope this helps and best of luck!