All Forum Posts by: Kenny Colato

Hey There Guys! I'm an out of state investor, and I was looking for investors in the market I'm planning to invest in. Currently living in Los Angeles, in which I'm an out of state investor. I wanted to speak to some investors in the area, and get some advice, and knowledge on how your investing career has been in Chattanooga! 

Thanks a million! 

Quote from @Paul Gimmarro:

Find an agent that works with investors and just explain to him that you are new to this. The agent will be glad to help you out and answer questions as you might buy with him/her in the future. The lenders will be happy to chat with you and walk you through their terms because that is money that they will be making. The more you talk to these people the easier it becomes. 

Do your future self a favor and stop holding yourself back! Good luck to you!

Thank you so much for your insight! I'm an extrovert in person, and I have no shame to talking to new people, but I think the issue is just being on the phone, and getting stuck on questions I need to ask the person I am talking to. But as everyone says, I do need to practice the muscle. 

Hey guys, I wanted to share a bit of my story since I know I am not the only one who is in the same situation I'm in. I'm an out of state investor who's been doing deep research in the Chattanooga market, and I find myself stuck. I keep analyzing deals, and seeing that some deals can cash flow over $200 after using the BRRRR method.

Here's where I'm stuck: I have some sort of paranoia of talking to people and asking them to give me answers without me providing any value to them. I do not like to waste people's time, so I get scared to ask people questions. I am sort of nervous talking to a property manager and asking what this will rent for, and what this won't rent for. I'm afraid of telling people to do stuff for me.

Another thing I am stuck on is finding financing for 'good' deals. I have no idea how to get quotes from hard money lenders, and that's only because I haven't called any and asked for their terms when getting a loan with them. I believe I lack communication skills through the phone. It sounds pathetic, but I am getting started and I feel as if I need a confidence boost to get on the phone and get out of my comfort zone. 

Any feedback would be amazing, and I am open to a lot of suggestions. 

Thank you guys :)

@Serena Halterman

When is the meet up?

@David Zheng

Hi there David, the second of Every month there is a meet up in Costa Mesa, Hosted by @VinceRodriguez. I’ve been going to that meet for over 7 months and I have gotten so many great tips at that meet up.

You can meet lenders, agents, and a couple of Investors which have a lot of experience in the California Market (Vince)

For more info on the meet up, check out their Instagram @anviinvest

@Andrew Postell

Not specifically. I believe any lender in Tennessee would do.

Thank you.

Hi there fellow investors!

Im out there looking for any recommendations for any lenders in Chattanooga Tennessee. To all the investors in Tennessee, do any of you know some lenders for self employed individuals. Any lender recommendations would be great!

Im looking specifically for a lender who lends for small multi family, or single family homes.

If you have any questions towards anything, I’ll try to do my best to help you in anything. Thank You!

To piggy back on Matt, Buying a property through a wholesaler or an auction isn't the best thing to do. Most of the wholesalers are selling to a tight buyer list to whom they trust, and they've done business with. Most auctions are saturated by investors who will scare you away since you will be new to the auction. Truthfully, if you want to find a deal here in LA, you must tell everyone and their moms that you buy Real Estate. 

You can go to Local Meets, Ask agents if they know any wholesalers in the area, and even call those bandit signs that LA is saturated by. 

If you have a car and some spare time, you can drive for dollars, skip trace the owner, and call the owner of the property you found while driving for dollars. The type of properties you can jot-down while driving for dollars are ugly homes, messed up roof, high grass, mailboxes full, doesn't take the trash out on trash day, and a lot of those factors that you may see someone to sell their home for a discount. 

You can even tell people, to encourage them, that you'll give them $1,000 if they bring you a motivated seller, and you purchase the property off the seller, and close, then you will give them $1,000 and boom you found a cheap home (possibly)

I hope that helps. 

Hello there Luis. I'm Kenny, and there is a meet the second Wednesday of every month in Costa Mesa, and we talk about everything that has to do with REI but mostly about Rentals. Check out @Anviinvest on Instagram! Most of us are just getting started and trying to buy our first deal. But there are a couple of investors in there that will answer all the questions you may have into how to get started, how to maximize your profits, how to save on taxes, and it just encourages you to buy in the Real Estate Asset. Vince is the coordinator of the meet. Highly recommend.

Hey there guys! Thanks for taking your time to read this

I’m on the fence on either buying a property in Clarksville, TN, or buying the property on where I currently live.

I’m located in Los Angeles, a rough area, but in Los Angeles property value will always increase and appreciate is insane here. 

My thoughts are to purchase the property where I live from my landlord and see if I can seller finance the deal.

Here’s the thing, the owner owns many properties all over LA and I don’t know if he’d sell it to me. We’ve been living here for about 8 years, and the property contains two units and a garage. The property is a duplex, and there’s a garage in the back that I can possibly turn into a rental by turning it around into a livable area.

How do you guys think I should approach the owner? Seller finance, Lease Option, or how?