All Forum Posts by: Mark Sewell

Honestly, I think nobody really knows right now, if they are being honest.

Still not clear how many are really going to pay the premium to live in close - none of us knows what the commuting schedules will be, or said another way, to what extent this 'work remotely' thing will be part of the new normal going forward.

Also rental rates will go up.  There is a big lag right now, but eventually we'll have a stable market again and rental rates will catch up.

Matthew that's how it works on the coasts.  Not so much in the fly over states.  We don't get the stupid crazy leaps in appreciation, but the drop-offs are pretty shallow if any.  Really just goes flat.

Try to track down a realtor over there named @Aaron Rowzee.  He might be able to give you some useful insights.

I like RA and I find their interface much easier to work with.  Good people over there too.

There are other options that I like for other reasons - I like RE IQ also, because they send leads lists in spreadsheet form that are ready to download.  But I didn't love their interface for running comps.

I also used some version of Propstream for a while and I liked that because it showed a lot of details on the underlying mortgage on the property.  Interface was good also.  

Not sure which one I will get when I resume RE investing going forward.

I think any mortgage would be just fine, as long as you are one of the people living in it - at least to begin with.  Why did the realtor recommend this particular kind of loan?

Her birthday was yesterday.  She took her mom to brunch to meet her boyfriend, and (ahem) her boyfriends parents .  So I think we all know where this is headed, at this point.  House-hacking is probably not going to be interesting.

BUT no matter the strategy, the discussion needs to be HOW does she afford the house, and not simply I cannot afford it.

I think SEO is the foundation for any of it.  FB will perform better, I believe, if you have good content to put in front of them.  If your online presence isn't building credibility and adding value, no amount of FB spend is going to help.

People swear bandit signs still work.  FB is all that and way more, but I think you gotta just keep testing and give it 4-6 months, with a serious budget.

I don't have a big wealth of experience here, but here are my thoughts.

IMHO (and I do mean very humble) the best practice is to start with your buyers, OR be prepared to backstop your own deals (buy them yourself if needed).

I am not a wholesaler and do not really strive to be, but I have done an assignment or two.  In both cases, the end buyer went with me to the property to review the property before we submitted the offer - jointly.  

Do this and you will learn more, from working with investors that have some experience, and you'll have a higher likelihood of actually getting your deals to the closing table.

Make it your goal to ensure that the seller is taken care of, eg., make sure you can close if your offer is accepted. 

If you are worried about your buyer snaking your deal, then you got the wrong buyer.  Consider the benefits of a smaller list comprised of better people that you know and understand what you are doing.

Here is what 'I think' I think on the topic of wholesalers... 90% of them are not worth your time.  The beginners don't know their numbers and what they think is a deal (honestly) is usually not a deal.  The bigger ones, the ones that operate as established businesses, routinely offer marginal-to-bad deals, hoping to offload them onto inexperienced investors.

Now there is still that silent 10% roaming around out there.  Guys that get it, guys that do it right, they can be found.  They aren't greedy and they are genuinely concerned about the deal getting done, the seller getting their house sold, and many of them, I would guess, are able to backstop the deal themselves if needed.  These people, I suspect, don't advertise and they have a short triple-A proven buyer list, a little local mini-cartel, that they work with.  There is a lot of trust involved and more than a little relationship.  I do think the successful guys run in herds locally.

So you need to find that one guy that (a) kinda knows what they are doing and (b) sees value in knowing you as a buyer, enough that they are going to charge you a reasonable fee or a reasonable deal that actually pencils out.  

@Brent Moreno I would like to see your case study. I've listened to you guys on BP and Carrot podcasts, maybe some others, so I am familiar with what you were doing at one point, at least.