All Forum Posts by: Michael Ohara

You could get a entry level admin position with a broker's office, or even get your license.  What I do has nothing to do with real estate too. I found going to meet-ups and being around other more experienced investors helped with the learning curve.

Bravo for starting out at a young age.  Have you joined your local real estate meet-up group?  That will help you build your network.  You may want to partner up with another wholesaler so you can learn and get experience. In the end, it's all about finding the deal.  Driving for dollars, bandit signs, mailers, website all good ways, but some kind of marketing budget is needed.

@Eoin Bolger Cleveland is a great market, although having a great time on the ground is very important, as you know.  Have you looked at turnkey companies who offer all-in-one service?  Turnkey is a possible pathway for you since you our out of country.  DM me and I can recommend an attorney.  Best of luck.

@Daniel Okeefe you should ask for the broker’s experience with commercial. A low fee is nice but lack of experience may hurt you in the end. Comm and res are two different animals.

@Cierra Smith depending on your market 90 days may not be long enough for seller motivation. You should work through the agent, don’t end run the agent. When you do find a motivated owner with a mortgage, simply ask if they would do sub2. Then be prepared to explain as simply as you can.

The HOA fees are always a killer. You could get a SFR and pay 10% to a property manager and keep another $100. Are you OK with $165/mo? Seems slim but I don't know your market. Best of luck.

Hopefully your realtor isn't pulling numbers out of the air. At $1500 margins are slim - what if he's wrong? I assume you're self-managing since there's no management expense.  Sounds like a beautiful property, but as you know the cash flowing properties are in lower-grade neighborhoods.  Have you looked in B-, C areas? Of course there's more risk.

I have spoken with https://notecollection.com/, but never used them.  They were helpful.

When I've looked for office space I've looked on Craigslist and Loopnet mostly.  Maybe Facebook ads would work?

I usually get a vacancy policy.