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All Forum Posts by: Nate Hananger

Nate Hananger has started 12 posts and replied 48 times.

Originally posted by @Fareed Zahid:

Hi guys,

New member here who's been lurking and reading on BP for a while now. I'm liquidating some assets overseas and bringing the money here to the US (NY to be exact) and would like to get involved in the world of real estate investing. At first I thought I would buy my first deal cash and look to flip it, but I'd also be interested in utilizing hard money to do multiple deals at once. Not sure what the prevailing opinion on this strategy is, but I'd love to hear your thoughts. 

I have friends and business associates who invest in real estate, and as I'm sure you can imagine, everyone would like me to invest capital and let them do the dirty in return for a small percentage of the profits. I'd like to work with some of the more trusted people in my circle to develop a better understanding of the industry and narrow down exactly what my path in the real estate investing world will be, but even starting off I'd like to be more hands on. 

My purpose for starting this thread would be to ask those who might be interested and willing to share how they would have started off if they had $300k available to them as a beginner investor. What is the best way to build knowledge and maximize returns with this sum of money in your opinion? I am interested in buying and flipping to start off but as I become financially stronger I'd like to rehab and hold - specifically larger multi-family units. 

Everyone's responses and opinions on this topic are going to be different, and I look forward to learning from your respective invaluable experiences. 

 Fareed - I'm on a similar boat. Only enough capital to do one deal at a time AND living in a very expensive, top tier area. 

I would make sure you find a mentor who is at least a decade ahead of you in experience with the financial success to show for it AND is also adapting to the shifting marketing strategies with mobile devices dominating everyone's attention more than TV, radio, or mail. 

Just beware as you search for said mentor that you don't get sucked in my any get rich quick gurus flashing their Lamborghini to seduce you in some video. BP offers great feedback on finding mentors and reviews on pretty much every program out there. 

Post: Online Advertising

Nate HanangerPosted
  • Investor
  • Las Vegas, NV
  • Posts 56
  • Votes 9
Originally posted by @Ray Agosto:

I've been recently posting within the ads on craigslist. Daily i'll get one response per day if lucky, the main question i have but does anyone has a ad service they've been using or posting strategists to post and not get flagged or post multiple ads per day at certain time as well so i would never be at my computer ?

 Ray,

Before I reply, I was wondering three things:

1) What subcategory do you advertise in, and does it cost to post?

2) What specifically does your ad say?

3) How many ads per day do you post?

Thanks.

Post: Which Real Estate Club Do You Attend?

Nate HanangerPosted
  • Investor
  • Las Vegas, NV
  • Posts 56
  • Votes 9
Originally posted by @Joshua Huddleston:

I currently attend Prosperity Through Real Estate. I was attending Los Angeles Real Estate Club by Phyllis Rockower but now that she sold it to Lloyd Segal I will no longer attend (he has a criminal record and was dis-barred, and I have no time for criminals). Anyways I love Prosperity Through Real Estate but I want more meetings. Ideas?

 Hi Joshua,

I actually work with Phyllis still, even after she sold the club. But the news about Segal you're mentioning is new to me. Any links that further expand on this?

With that set aside, I've still seen some pretty solid presentations from guest speakers the The LAREC. 

There is also Sam's Real Estate Club (find it on MeetUp). As well as the Real Estate Investment Association of LA (also on MeetUp). 

Post: Mailing advertising

Nate HanangerPosted
  • Investor
  • Las Vegas, NV
  • Posts 56
  • Votes 9
Originally posted by @Preston Akers:

I have started a postcard campaign, which directly markets to probate lists within my market... and have had a little success. So far, this has just consisted of just one phase (a postcard) that those on the probate list have received, and now I'm ready to send my 2nd phase of that campaign.

I had in mind a letter, (written possibly) complete with my letterhead which would detail my services and what I specialize in.

Does anyone have any better recommendations? Thanks for any help you can offer.

 I may get some flack for this, but the fact is that advertising is in a huge shift right now and mobile devices are the new thing. Gary Vaynerchuk talks a lot about this. 

I've been fortunate enough to hop onboard the social media marketing strategy and seen incredible results compared to the dwindling snail mail campaigns. 

When's the last time you received a piece of mail you knew was marketing something and opened it with excitement instead of thrown it away on the spot? Compare that to the last time you looked at your smart phone. 

I will go as far as saying any business that doesn't use online social media as their main tool right now is bound to regret it once major corporations and Fortune 500 companies start shifting their HUGE ad budgets towards the same thing. 

There's only ONE Facebook feed and guess what - you're competing with EVERY SINGLE PERSON AND COMPANY for the attention of everyone on that site. And you can use that based on location just as you would with a snail mail campaign. 

Post: Searching for individual investors in LA County

Nate HanangerPosted
  • Investor
  • Las Vegas, NV
  • Posts 56
  • Votes 9

Are you an investor in LA County looking for preforeclosures to; flip, buy and hold, create assumable financing or short sale? Do you have your own capital to pay for deals out of pocket if necessary? Would you like to have another set of eyes on the market for you?

The we should talk. 

If I bring you a deal that fits your specified criteria and it works, then you pay me a commission. Details to be determined based on the type of deal, size, etc. I am not a real estate agent. Just a fellow investor with pockets that are not deep enough for everything that lands on my desk. 

Please contact me directly on here, let me know what you are looking for and we will go from there.

Please no real estate agents representing buyers. 

Post: My 2 cents about courses and gurus vs books

Nate HanangerPosted
  • Investor
  • Las Vegas, NV
  • Posts 56
  • Votes 9

I may get slaughtered for taking the opposition, but I can't say no to all teachers or coaches just because they cost more. I usually write educational expenses off on my taxes anyway. 

Back when I knew nothing about nutrition or fitness, the books out there looked like a mountain of contradictory information. I was overwhelmed. Had I not sought out all of those who were more knowledgeable than I was, my health would be far worse than it is now. 

Many books on how habits are formed or altered (Ex: The Power of Habit by Charles Duhigg) discuss how we can use multiple resources to kick ourselves into learning something new and sticking to it.

Additionally, I think the term "guru" is warped. Many people think a guru is a borderline demigod and occasionally set sky-high expectations for them. Sort of like that book The Secret, which to some was misconstrued as wishful thinking where they neglected to implement and take action on their goals. 

When I think of a mentor, I think their time is most certainly worth money because I don't want a watered down version of training. I want a drill sergeant who will hold me accountable so I can learn faster. And a book cannot tell me when I have made a mistake, especially if I am at a level of "conscious incompetence", where I know I lack a skill set, but am unsure how to go about it exactly (example: a baby who knows he wants to walk, but is still falling on his butt.) 

So in the end, I'd say to each their own. If someone responds more efficiently to a coach than a library membership, that's their path. I myself use everything I can. It's just too bad these topics still aren't mandatory in public education. 

Post: Roommate Question: 1 moving out, 1 staying

Nate HanangerPosted
  • Investor
  • Las Vegas, NV
  • Posts 56
  • Votes 9

Thanks for the reply, Deanna. Good questions.

I am Tenant A, so unfortunately this is potential battle that I cannot ignore. And for the sake of simplicity, let's just say that my assumptions are accurate because if I am wrong, then nothing happens and everyone complies with their commitments. 

So if anyone has recommendations for dealing with Tenant B in the event they abandon a property in the middle of a lease with over half a year worth of rent still owed, I would love some recommendations. Otherwise I may be consulting a real estate attorney soon. 

Post: Roommate Question: 1 moving out, 1 staying

Nate HanangerPosted
  • Investor
  • Las Vegas, NV
  • Posts 56
  • Votes 9

Property is in California.

Tenant A was living in the 2bed/2bath apartment first. Tenant B was added to the lease under the condition that if either tenant wanted to be removed, they would first be required to find a replacement tenant in order to avoid putting the financial burden on the other roommate. The property management company has a tenant release form that must be signed by all parties before anyone is removed/added to prove the transition was mutually agreed upon. 

Tenant B is now attempting to bypass that condition with little or no effort to find a replacement. They have not vacated the property yet and no move-out date has been mentioned by either tenant. 

Is it possible for Tenant A to make a case with the claim that Tenant B is neglecting their responsibility to find a replacement tenant? If Tenant A has evidence the lease is still active, but Tenant B has no evidence Tenant A agreed to assume 100% of the rent, shouldn't Tenant B remain accountable until a replacement is found?   

If not, what is the best option Tenant A has to defend themselves against Tenant B abandoning their agreement?