All Forum Posts by: Mark Hart

@Jason Malabute Most investors end up using a lender in a different state. Make sure you ask how many investor loans they have done in that specific City before. I'd also recommend using a lender that has a personal portfolio of rentals. I have a few referrals if you'd like them!

@Dardine Eduardo Soto There are many options for you to choose from i'll send you a list now!

Welcome @Daniel Hawkins!

I'd recommend getting in contact with someone who has significant experience in REI and who has already accomplished their goals. Real Estate Investors are very open and willing to share about not only their successes but also their failures. Those are the best mentors.

Next you'll need to figure out your ideal strategy. How much time would you like to put into this venture? Do you like renovations or do you want to be more hands off and passive. 

Then build your team. Find people with decades of experience, ask for referrals, go to local meet ups. 

Then take action.

As the saying goes, "Don't wait to buy real estate, buy real estate and wait!"

Good luck! 

Welcome @Dardine Eduardo Soto!

Congratulations on your ability to start investing in Real Estate! Going Turnkey is a popular way to get your feet wet with relatively low risk however there are a lot of different providers out there with different set ups. I'd recommend looking for a company that has every department under one roof. This means that they personally own the property, they are performing the renovations, and they are the property managers. 

Once you've passed that milestone now look for a company with the following resume:

-decades of experience

-thousands of renovations under there belt

-guarantees to their product 

-economies of scale (Can buy materials in bulk and store in a warehouse)

- in-house maintenance crew members

- quality reviews and referrals from current investors

- full time client services team to communicate with current investors

- no waiting list

- can buy multiple homes at once in a portfolio

- invite you to visit their office, houses, and team

I hope this helps so you can look for these items while interviewing TK providers in your desired market!

Welcome @Matt Wahidi! 

As the saying goes “Don’t wait to buy real estate, buy real estate and wait!” 

Now there are many different avenues that you can go down and it all depends on you as an investor. Do you want to be active or passive ? How much time would you like to spend on your new RE business every week? Do you enjoy renovations? How risk adverse are you? Do you like to control every step of the process? 

Answering these questions will be a great start to your new journey. If you’d like to meet with local investors let me know and I’d be happy to make some introductions ! 

@Lauren Brown Stop by our office every Thursday morning at 7:30 for a free breakfast and to network with local wholesalers and investors. We would be able to teach you anything you need to know to be successful in wholesaling  

Welcome @Amanda Aesho!

I’d say it all depends on how much time you’d like to put into your new real estate business coupled with your risk tolerance.

Acquiring Pre foreclosures is a time consuming, hands on approach which has been successful for investors in the past. Those that are successful reap the benefits however you could potentially lose money on the transaction and be in over your head. I’d be sure to leave yourself a large buffer when running your numbers just in case your rehab comes in over budget or your appraisal comes in low. 

As for Turnkey it will take dramatically less time, less risk, and subsequently less return because the most profit and risk goes to those that renovate. 

I hope this helps there’s  a ton of knowledge on BP and the community is very open to sharing their experiences! 

P.S. I’m from Chicago and currently live in Memphis so I can relate !

Congrats on your success ! We will look at any distressed properties you find in Memphis :)

@Kyle Neff Just in Memphis since we know it like the back of our hands! There are many great Markets and TK providers on BP.  Make sure your TK provider has every department under one roof and actually own the property and the PM company ! 

@Kyle Neff It sounds like since you’re very busy with your career and unable to manage contractors/self manage you should go Turnkey. It all comes down to how much time you have available, disposable capital, and risk tolerance. Turnkey is the lowest return yet least amount of risk and time so it depends on what is most important to you. Property management is key either way so I’d recommend reading Brandon Turners book to learn the ins and outs of PM!