All Forum Posts by: Joshua Janus

I would definitely cold call. Here are 3 solid options of ways you can go about it.

1. Skip trace yourself which will be free but the most time consuming.

2. Train and pay a virtual assistant, such as someone on Upwork, to skip trace for you which will be less time consuming than 

option 1, and less expensive than option 3.

3. Pay for a skip tracing service which will be the quickest but most expensive way to go about it. 

I connected with an agent who is an investor himself and as active on Bigger Pockets. I would advise seeing if you can find someone similar to this as it will provide the most bank for your buck. @Nate Ramos

Hey Ralph! How long have you been working at Amazon? I would learn more about an FHA Loan House Hack here: https://www.biggerpockets.com/... which would be a great start to your investing career. Find people that actually have money, accrued wealth and are in real estate, and listen to them! Avoiding the advice of those who don't have what you seek is a great start to clearing your vision and focusing on what you are striving for. 

This would also be a great opportunity to try out STR in one of the units, and you would be able to easily manage that process.

@Joshua King You can either ask the seller prior to purchase to use the cash for keys approach as a way to terminate the active lease. I would also really think about if this specific property is worth all of the hassle that you are going through just to get it. If you can get a similar return somewhere else that doesn't require so much juggling, I would try that route. 

I would say buy with the intention that it will cash flow from day one, that way you aren't depending on appreciation to make your numbers work. Use the worst case scenario when calculating your NOI, Cash Flow, Expenses etc. and take a deal that makes sense in a situation like that which will mitigate a lot of the risk. Hope this helps, Josh

Hey @Tim Sipowicz. I cold call non owner occupied 1-4 units every day and have found sellers willing to sell at 70% ARV. I take these deals and take them to an investor, they buy it and I get a small commission. I'm trying to do this over and over so I can eventually buy one of the properties myself with the compounded commission. Hope this helps, Josh

Are you looking to be really involved like a self managed house hack? Or more of a passive income experience? I'd figure out where you are on that spectrum and that will determine whether out of state or local would be the ideal first deal. 

Hey Nate! Definitely read the book suggestions above and figure out a way to get a mentor or be around someone in the real estate industry. I have been cold calling at a brokerage and have learned so much being in that environment. This can lead to you getting your real estate license which will give you a lot of advantages when purchasing property. Just be a sponge and absorb!

I would agree with Jody and say the VRBO or AirBNB is the best route you can take. It will provide you a new experience, some cash flow and an intro to renting a property to someone. Have you considered house hacking a duplex or multi family?