All Forum Posts by: Matt Mulvihill

If you're only objective is to sell your own properties, I would look for the cheapest firm to work with. Consider firms that have a very favorable split and don't charge you if you don't close a deal every 3 months like some do. Some firms can be very expensive to work with, but thats because they provide services that might not be of any use to you.

As a few others here, I highly suggest Wix. I've made websites in the past with wix, wordpress and dreamweaver (is that even still a thing!?) and wix has been the best for me. It's very easy to use and also makes it easy to make the site your own without having to learn much about coding, hosting, page optimization, etc.. 

The simplicity of Wix is nice because i don't really find much value in trying to learn all the steps of "building your own site" as opposed to making deals happen. Plus, it gives you enough control to where your site won't look like everyone else. While you start with a template, there are 100s to choose from and you can change it to where it doesn't look like a template at all

Hey BP! 

Myself and two others are in the process of starting an investment firm and are wondering what essential tools/services you’d suggest for the starting days? Our objective is to have a lean operation to start, and then can add to the systems once business gets rolling. That said, we know we will at least need a website, CRM, and list/skip trace system like propstream or realeflow. 

I was wondering what systems this community uses, what we should stay away from, and ultimately what are the essentials to help us run like a well oiled machine?

@Spence Kal Thank you! Getting started is easier said than done lol. That is absolutely correct, chik fil a only costs 10k to start a franchise, however almost none get approved because they are very strategic with where they put their locations. Another tip I have learned is attending/listening to county zoning meetings. As an example, I am in Charlotte and we use a light rail system. County meetings discuss extensions of the light rail before anyone else knows about it so if you work with investors you can say "the county just approved the light rail to extend to Fort Mill SC" and since that actually increases property value it might be good to buy along that track before word gets out so you can gain equity fairly quickly. 

Obviously I wouldnt say exactly that but that is the kind of info you can gather that other agents are too lazy to get which gives you a great advantage over your competition 

Well it's been 8 months since I posted this and I really have to say the best way to learn it is just by going out and seeing it. One thing that has helped me, and maybe can help someone else, is look where commercial properties are going. If there is a new shopping area being built in what seems like the middle of nowhere, odds are those people know something you don't and that area could have some great upside potential! 

Welcome to BP! 

I'll start off by saying this not an area I have experience in, but I have done a lot of research on and think its a great area to be looking. 

I am sure someone else also said everything I am going to say, but I have a few suggestions to keep in mind, the biggest being your local regulations. Many cities do not like AirBNB because they don't get the opportunity to collect the tax revenues that they would receive from hotels, is that something your city is concerned about? If you're not sure, a good way to tell is if your area already has an appeal of being a vacation rental area (think of like a myrtle beach or Asheville NC)? Another thing to consider is the off season. I am sure people go to AZ year round, but there has to be slower times and what will you do to have people going to your rental when there are "more options available"?

I think the STR model has great ability to quickly become a scalable business opportunity, especially since smart home technology has become relatively affordable so that might be another area that will be expensive now, but payoff well down the road.

Regardless, you made your first step by asking for assistance and that more than most people will do so kudos to you! You'll hit waves where you're super excited, and others where you wish you never started but just keep pushing through! 

Hey BP!

I am trying to do a video interview with some people but want to do it virtually. I know that’s exactly what they do for the podcast when it’s posted to YouTube, so I was wondering what services/products would allow me to do this or if anyone knows what BP uses?

Thanks!

This is not a self promotion #dontfinemebro

I've looked into carwashes previously and from time to time I find myself looking into them again. This response is a bit off topic but what I feel is a good strategy would be starting with a mobile carwash. It will be a cheaper way to get started, you'll get your name out there, and your business won't be limited to its location. Down the road once the mobile business does well you can get a fixed location and since you've already built a brand, people should be willing to come to your location. 

Added perc of mobile carwashes is if you're near a body of water you can also do boats. 

Welcome to BP! I would start by attending local real estate investment meet ups. All real estate, but especially commercial, can be such a broad focus. Going to the meet ups will let you hear from others what they are doing and you can learn what catches your interest the most, whether that be land, office space, apartments, self storage, marinas, etc.

Best of luck with your journey, you're in the right place to start learning! 

It's a great place to be! Feel free to reach out if you ever have any questions about the area!