All Forum Posts by: Kent Lord

@Ngozi Onyesoh

What’s the goal on this property? Buy and hold? You plan on hiring it all out?

I'm doing a video call with a few new investor friends and would like a general consensus to put these "Investor Needs" into chronological order. This is assuming for a fix and flip/ BRRR deal and assuming needing hard money or private money.

1. Choosing a market
2. Choosing investment criteria
3. Credibility book
4. Hiring a coach
5. Website to capture leads
6. Marketing to leads
7. Finding money for deal (assume private/hard money)
8. Finding reputable contractor/s
9. Finding Real Estate Agent
10. Finding the deal
11. Applying for loan funding
12. Designing renovation
13. Budgeting renovations
14. Scheduling all renovations
15. Listing the home
16. Sell or refi'n roll

And if any of you would like to add anything please do. If any of you would like to add to, which items you believe is MOST IMPORTANT and which items are less important. 

Thanks guys!

Kent Lord

@Weston Bovee

Where specifically are you looking at in and around Denver? There are some places in East Arvada that may still have potential upside as well as a few pockets in Thorton. I believe Brighton is a big up and coming area and has a lot of flip potential.

Are either of your sons handy by chance? I’m and electrician and flipper and agent looking for workers periodically.

Also, my opinion is that context is key when it comes to deciding to get your RE license. And also knowing what kind of flip you want to do and where at is also super important. My first flip was a duplex which had its perks buts also downfalls.

Here are some things we know work but are tough to scale and are hard to track.

1. Mailers

2. Bandit signs

3. Door knocking

4. Cold calling expired/ withdrawn listings.

Based on my understanding, if you can show traction with the above 4 methods you should have the skills to take on SEO.

The list goes on for the gritty boots on the ground lead generating. But the most interesting to me is SEO.

5. SEO marketing.

This might be easy to some people, which I admire those people, buts it’s not as easy for me to grasp. So I know the first step to understanding this is like any problem solving. Goal #1, find out what questions to ask. Like building a house, find out how a house gets built and then align those categories chronologically, then start assembling those categories based on what the end result is supposed to look like.

So here’s where I would like investors that do SEO to help us align the pieces and what comes first to last, tell me where I’m wrong.

_1? Portfolio. Do some deals so you show experience?

_2? Hire a pro to build a website?

_3. Website

A. Catchy slogan or hook, and how help.

A. Testimonials

B. About us

_4? Hire a marketing pro to dish website out to Facebook, google, bing?

_5? Get a business phone line?

_6? Hire or be a lead generator to call and receive calls to book appointments?

Or 1-4, and hire a company to do the all in one lead gen that you pay per lead? How much does this cost?

@Travis Arguello similar ambitions. Keep in mind, as a real estate agent like me, not only will it take time to procure buyer and seller leads, but also you will restart your credibility to buy any property conventionally because you will need to prove business income for a few years. Without a w2 income, get to know creative lenders and high interest deal very intimately.

As for the test, you’ll be fine, once you get in the field no one cares about how many times it took you to pass. Brokers care about 1 thing, closings! And that comes from 1 source, lead gen. Simple, but not easy.

Best of luck my man!

What is it your doing? New construction? Small remodel work? Large remodel work?

Daniel, Lets connect, I am going to be doing similar things to you in the area. I'm a licensed CO realtor and a master electrician. I know the trades well.

Hey Julie, Im an agent out here in Loveland/Longmont, and I run into this all the time.

They buyer doesn't "need" an agent, but its almost like representing yourself at court without legal representation. And if sellers usually pay the buyers commission it will be tougher to pitch, but in this market, you have a high probability. But the summary is always "it depends", it up to the buyers risk tolerance and expertise. I have gotten kicked out of quite a few deals this way, but thats business.

If your sellers agent turns into a transaction broker, and they offer you 4%. That is more than fair to your agent and its up to you if its fair to you. I hope you find your agent to be well worth the money. But kudos to you for having those tough conversations ahead of time and nurturing relationships.

Good luck! I hope for the best!

@Robert Herrera

I have a six plex in north platte Nebraska and realized the financing terms are worse than a four unit. So I would be shooting to do a four unit or less.

I plan on picking up some mf lots and building some long term holds in north west proper of Pueblo.

Anyone interested in getting together to scope some properties or go down there and hunt?