All Forum Posts by: Josh Raikin

Appreciate the reply @Nathan Gesner! I read this, but heard niche markets where the focus is more on a great location and standout home will strongly survive. Any thoughts or recommendations at succeeding at this?

Hi! It's been a lot of learning in the past few months and Air bnb arbitrage seems like a great niche to get into to cash flow and learn markets before buying property. 

If anyone has advice on the following I'm all ears:

1) What markets do you recommend I look into? Currently I'm looking into Reno, NV

2) Does anyone have property they are interested in me renting from them in order to arbitrage?

3) Where should I spend my next 4 months educationally (if arbitrage doesn't work out)?

I'd like to get into wholesaling in Dallas, TX, but I have a few questions about wholesaling in general and Dallas / TX specific I'm hoping someone can please answer :)

(Below each # is my attempt at an answer/ comment)

1) I believe I'll need several documents as a wholesaler to come prepared to every property I door knock. What are those documents

- TREC, addendums (not sure which ones), Assignment ("Advanced" version), (anything else?)

2) When starting to wholesale, is a good strategy to: (1) Use Propelio to find a list of leads, (2) skiptrace all leads, (3) cold call/ text/ email leads- keeping track of script success and other metrics, (4) keep going.

- I'm not sure what size list I should aim for when just starting out. I'm assuming advice would be to keep it specific, but would love input on how to make it specific for Dallas out-of-state-owner properties.

3) What times of day do people advise NOT to call properties?

- I'd assume not before 8am or after dark?

4) Would anyone like to team up in Dallas?

If anybody can connect me with someone with experience in mid-term rentals (3-6 month tenants), I am seeking advice on Co-living/ rent-by-the-room properties in Texas (specifically Dallas/ DFW/ Richardson/ Garland). 

Would really appreciate the opportunity to connect and get advice on the following:

- How do I determine if the city allows for co-living/ mid-term rentals? Does it differ in legality and paperwork from an air bnb?

- How do I analyze the deal? Does it differ at all from an air bnb?

- Does anyone have experience in this field I can learn from?

Thanks for the help!

For example:

I found a property on the MLS in Garland, TX with the following information and analysis (it is under contract now, so no harm in sharing):

- I would plan to fully furnish this and offer house keeping too

Does anyone have advice on property lists to purchase in order to direct mail/ door knock?

I'm currently attempting a driving for dollars model in Dallas, TX. I found about 50 properties that look like I can add value to them, I found the owner's address on the county website, and I skiptraced for many of the owner's phone numbers. I'd love advice on next steps to help me with my first deal!

So far, I've reached out to a RE agent for comps on the property address. I even asked someone in the neighborhood to go through their (turn key) home and got their purchase price from them (providing me with a general ARV). I don't have a target strategy however as I'm new to the area and am trying to learn more about RE here before deciding if BRRRR, fix-and-flip, or wholesale is the best option. I'm interested in all three but do not have the experience or the network to do the rehab confidently.

I'm thinking my next steps could be (in random and no order, and disconnected-- looking for advice here):

- start calling the properties, say I'd like to purchase their house, and see where the conversation goes. This could help me become more comfortable with the process. Ideally, I'd like to walk the properties and get an idea of rehab cost. 

- continue driving for dollars.

- network more in my region to find an experienced investor who could potentially partner or provide advice.

- Find the rehab cost, ARV, and get property under contract to wholesale (and be clear with owner about my goal to wholesale)

Thanks for the help!

What has been the process for people to get an air bnb running in Dallas? Does one need certain permits/ approvals, or can one go right ahead and list their property on air bnb?

Just moved to Dallas. TX and interested in buying off-market properties. Is anyone able to clarify the process once I have an address? Below is my attempt at a procedure, and would really appreciate any corrections!

1) Find address (property in which I can add value to and cash flow)

2) Determine owner of property via county records.

3) Utilize a skiptrace to find contact information for said owner.

4) Call owner and ideally make an agreement to buy property using any strategy that fits the property. (i.e. cash offer, conventional mortgage, seller financing, wholesale, Subject-to (which I am mostly unfamiliar with), short-sale (which I am also fairly unfamiliar with), etc.)

5) Approach title company to purchase said property with terms agreed upon with buyer. 

- Not sure if one can use an agent for an off-market property.

6) Ensure financing (i.e contact lender)

7) Write up contract (including financing terms, options fee, earnest money, etc.).

- Not sure if an agent, title company or I write this up with example documentation online.

8) Sign said contract with seller.

9) Celebrate and get to work!

Again, thank you to anyone who is able to correct/ clarify things here!

Hi @Angela Keesee, did you make a decision? I’m at a Big Dog weekend in Dallas now, and curious what your final decision was!

Hey @Christopher Murphy- just moved to Dallas yesterday. Would love a chance to connect!