All Forum Posts by: Monique Williamson

Any words of wisdom for how to find wholesale leads? I'm starting to wholesale but I don't know many people in my city. I've joined more groups to network and get to know more people who I may be able to get leads from. I've heard that personal referrals are one of the best ways to get wholesale deals. All advice is appreciated! Thanks.

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These are great questions to ask. Thanks for the tips.

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Thanks for asking this question. This is the exact info I needed.

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Thank you so much for sharing your story and adding so much detail! I'm looking for my first house to use the BRRRR and I love to read detailed estimates of rehab costs. The after pictures look great. You do good work!

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I've been looking for a mentor and I recently met a man who rehabs a lot of properties (about one a month). He has two 4 plexs that he hates managing. One of which has 2 empty apartments. I want to act as his property manager. I could take a headache off his hands and get some experience. I'm sure with a bit of effort it won't be hard getting new tenants, it's in a good area, with a small college nearby. The properties is a ways out of town and he doesn't really have the time to bother with it. He also expressed interest in selling them. He doesn't have a mortgage so he may be open to a seller financing option as well. Eventually I want to use the BRRR strategy and thought this would be a win for us both. Any advice on how to approach him? I've only met him once in a group capacity. However, we do have a mutual colleague which is how I plan to get his number. Any advice would be greatly appreciated, thanks!

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Originally posted by @Jerryll Noorden:

Originally posted by @Thomas S.:

My advice as a investor is for you to get out of debt first then concentrate on investing. Real estate is high risk, you do not want your personal debt burden to pull you down.

If you can not manage your personal finances you are not ready to invest. Investing requires strict discipline.

Develop your money management skills first by clearing your debt.

Actually I respectfully disagree.

Real estate is really low risk!

Of course depending what sort of real estate you are doing.

If you do your numbers right, you are not a moron (no offence to all the morons on here), you do your due diligence, you make no emotional decisions and you THINK!! you should be fine. is there no risk involved? Of course there is.

High risk? sure if you buy stuff with your eyes closed! Most risk comes into play from things you can't control.

Your contractor is a scam artist!, the market suddenly plunges because some dude named Jerryll took over the planet, your house catches fire because your contractor farted next to a blow torch...

But apart from that, if you only buy deals that ARE good deals (good deals defined by doing your due diligence), you should be OK. It it were high risk, there wouldn't be so many people being successful in real estate. Buying lotto is high risk. How many lotto winners are there vs. people that buy tickets?

yup yup

Thanks for the words of wisdom ☺️

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Originally posted by @Account Closed:

@Monique Williamson welcome! and Happy Thanksgiving! Im a newbie myself. recently purchased my first duplex, looking to get 2-3 more in 2018.

you said you want 4 properties in 2018, do you mean buy and holds or wholesaling deals?

Hi Marcus, I want 4 but and holds. I want to use wholesaling as a means to get the down payment. Congrats on your first property!

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Originally posted by @Paul Amegatcher:

Originally posted by @Monique Williamson:

Thanks for the advice Thomas. I'm actually great at managing money but I have a grad degree and the dent I want to get out of is student loan debt. Perhaps should have been more specific. I have good credit and from what I've read most people have suggested not waiting until after student loans are paid off.

Welcome to BP. Dayton is great place to invest. One of the biggest advantages for an investor in the Dayton is the lot links and land bank program. These can be used to acquire properties for a very low cost. I would look at that for as a beginner to help with property acquisitions.

Paul

Hey Paul, I'm working on some lot links applications but I've never heard of the land bank program. I'll look into it, thanks for the tip!

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Originally posted by @Darrin Carey:

Hi @Monique Williamson, welcome to the BP forums, and the never boring world of real estate investing. Your initial goals are spot on, build capital, then get cashflow, and wholesaling correctly is a great way to do that.

You can do a lot of online networking here. If you want to get to know more people in person, there are two places to go. In Dayton, you can do to the monthly networking event in Fairborn. It's on the 2nd Monday of each month. https://www.biggerpockets.com/forums/521/topics/511755-dayton-networking-dec-11-2017

In Cincinnati, you can go to the Cincinnati REIA. If you go to either, make sure to come by and say "Hi"

Thanks for the recommendation Darrin. I will definitely try to make it to one meeting next month. Hope to see you there!

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All Forum Posts by: Monique Williamson

Monique Williamson has started 3 posts and replied 23 times.

Post: How to get wholesale leads

Post: What Questions to ask potential mentors?

Post: Can you wholesale a deal won at the auction?

Post: This BRRRR thing really does work, with pictures

Post: How to approach a possible mentor?

Post: Ambitious newbie in Dayton, Ohio

Post: Ambitious newbie in Dayton, Ohio

Post: Ambitious newbie in Dayton, Ohio

Post: Ambitious newbie in Dayton, Ohio

Post: Ambitious newbie in Dayton, Ohio