All Forum Posts by: Michael Johnson

@Dan Krupa I understand that sentiment, and I would be telling these realtors up front. Not taking much of their time either. i.e working around the showings that they have scheduled etc. Because I actually am looking for a personal residence. I'm just figuring out what the deals even look like in my market. But I wouldn't try to drag my best contact (realtor/investor lady) through every step of the "boots on the ground" work that I have to do. But you do have a valid point.

@Steve Vaughan That's really what im trying to focus on now, narrowing in. To further break it down into sections and see what all of the mini markets are like. To throw an answer at your question as to "What would I do with an army of realtors?" At a minimum I would have monthly "parties" business associate events. Some of those realtors found would be on "The List." My "house parties" will be more like fun entrepreneurial start up, incubators. And let something grow out of that. But until I am "host-worthy" I might as well network and find them because thats my version of fun. Its a terrible answer, but its a work in progress haha. 

p.s. "pull the trigger when found" conveyed the point nicely. 

@Mary Shea Nice good tip, on a related note.. I know that its not the most productive or efficient way to grow. But Ive always had the idea of having a "grassroots entrepreneurial dream team" so to speak. The business version of childhood friends.. anyway,, Hey if referrals and the customer experience aspect is what you are focusing on might I suggest the book called "Whats Your Purple Goldfish" the premise of the book is to do small weird things that dont really cost much, but that have an impact. typically the smaller the better. I dont know why, but I feel like you'd like it. AND, of course; congrats on the license. 

@Russell Brazil hmm, All very good points. Well, im pretty sure I have my go-to Realtor/investor  in the area. So I dont really need more. But I feel the most progress I have made has been in one way or the other due to networking. I network by habit I guess. anyway,,  So you mean the same agent closes the deal for the initial acquisition and also on the finished rehabbed sale side. if so, thats not something that I have thought of, even though I try to keep everything win-win. In and out of business.  And I can definitely see how that could be taken wrong or negatively. So good call on throwing that out there. Im not looking to mobilize them, (multiple agents). Not yet anyway. For now I just want to give a little value. Just because I can.. However it cant be as serious as an actual buyer. Because that would go to my "go-to"  Realtor/investor.

Something else I'd like to mention, just because financing has been brought up, I dont know if it is a common occurrence or not but I met a Hard money lender who said she would loan on my Stock market portfolio. Which to me, sounds a little crazy/risky. Especially because my stocks are even riskier (but my stocks are ok. high risk, short time, it already worked, its been great, long story, doesn't matter.)

I havent had an official conversation with her on the topic, so Im not sure about rates but the highest rate she ever said was 11% she didnt mention points. But I will see her again.  

Thank you all, for the insights thus far.

Well, I'm just getting started. Ive learned alot and now just taking as much action as possible. Really its not even about the Realtors, its about me learning the market. Having first hand knowledge throughout my area. (8sq mi). Trying to do that as efficiently and progressively as possible. 

Meaning as cheaply and entrepreneurial-y as possible. 

As far as my goal goes, I want to buy and hold in this specific market as a live-in college rental, 2nd exit strategy airbnb for the nearby sports arena. 3rd sell it off because its a nice area w/ schools. 

I agree that realtors really do need to learn more about the investor side of things. However I dont have enough relevant credibility to stand on to be like "oh I'll teach you"

@Steve Vaughan 

All of these questions asked above are good. I know of a start-up company that buys lots in bulk. I'm standing by to read the thread.

So, basically, I am about to meet all of the Realtors in my area in the coming weeks. Im going to put my feet in every one of the properties that meet my criteria and are in my area. This is something simple that I can and will do. But then, I start thinking; how much progress can I actually make from doing this? How cool would it be to have an army of realtors on my side (idk for what purpose, but still.)

So since I am meeting with so many realtors what is the best value I can give them? It can be simple or creative. I know its a little vague, but what do Realtors need? 

My one idea so far would be offering free aerial (drone) footage of their properties if they need it. (Its illegal to charge for it anyway) ((For now)) 

Just something I can offer in addition to saying "Hey if you need me to take pictures of a house, or drop off a whatever, Give me a job" etc.

Thanks in advance BP for all of your wisdom. 

That is a pickle isnt it. Then you said you dont want to just buy him out. So I am fresh out of ideas. By interest deduction, you mean tax write-offs correct?

Lots of good info on this thread. I'll throw in what I can.

Right here (SW FL) and in my novice opinion..

Fort myers, ive heard it called "top-heavy" or already went through its appreciation and seems to hold true.

Lehigh, is on the news every other day, and not for good reasons. 

Cape coral, seems to be the best location but I cant really justify it. 

Cant speak on North fort myers or Bonita/estero 

Naples is amazing but expensive. 

Marco Island is rich. 

Of course there are deals everywhere and all of that jazz... Thats my "Non-Empirical Action Taking Market Analysis" on Southwest Florida. 

Its nice here. Best of luck! (vegas?)

p.s. Tampa is roughly 2 hours North of "here" Unexplored, But if I wasnt here Id probably go there.

Hey BP!

Where do you get phone numbers for free?? Half for me to practice on, and half because I can run to a partner/mentor type person in my area if I need to. Im spending as little money as possible and just taking as much action as I can. (I like how that sounds). So before I start calling random markets that I have no interest in. And before I actually buy a good list for my own. Where can I pull more info from? Craigslist, backpage, tax assesor? (costs $ right?) Thanks in advance!!

Completely out of my market, but wanted to say kudos on the consistency with the podcasts. Make sure you get your keyword alerts set up.. Search your markets and see who else has been talking about it.  

ACT ACT ACT. Taking action will move you further and faster than you think. Like you said BP is awesome.. But its possible to get even more from it. Hit the podcasts daily, for several reasons, 1 theyre dope. 2. It will keep you focused daily. Keeping you in the right mindset. 

My goal is to get into college rentals, because I feel I can plug into the market really well. If you do that. I would probably go for parents on the lease and have it nice. Throw a used pool table in the living room instead of a table, and a school flag on the wall and use it to advertise (just a thought) 

If you are relatively speaking in the middle of nowhere, and you like cars.. Open a shop? Doesnt mean you have to work on them yourself but it'd be cool to have a shop free and clear one day. (Im not saying you pay the overhead, i.e. lifts, tools, compressor, whatever.)  

Again take action, even if you don't know how to take care of "step 2" Worry about step 1 first. Try to not only stay productive but also efficient. what i mean by that is dont focus to much on the crap that doesn't get you anywhere.  

best of luck!