All Forum Posts by: Nathaniel Hovsepian

@Pat L. maybe you should! I would check it out that's for sure

@Hai Loc thanks for the words of encouragement. I already have another house under contract I am working on right now. Hopefully this one has a bigger up that we had a down lol.

@Pat L. I know that I have already learned a lot and can see this one being a good long term play if it doesn't end up selling for about what we're asking for it. 

Sounds like you have doing this for a couple years now and have some stories to tell.

@Bob Okenwa that is essentially what we are thinking. Would rather take a loss now, then throw more money into a deal only to hope to break even on the other end. Doesn't seem like sound business strategy.

I actually listed it on craigslist on wednesday and already got an offer for $25k with no closing costs for me to pay. 

I think it's probably needless to say, but we took it!!!

I have recently come to the conclusion that I need to sell a property that is too much work for me at the moment for a loss. I purchased the home for $26k and put another $6k into it.

I took the drywall off to replace it and found that all of the studs were termite infested and need to be replaced. It was at this point that I realized I might have bitten off more than I could chew and would end up just hoping to break even after rehab. 

I know that there is still room to make a profit if all goes well, but don't think it has enough upside to be worth me sinking another $60k into it, and not have anything left over for other investing in the meantime.

Knowing how much work there is left to do (like $60k), and having an ARV of about $105K I am listing it for what I purchased it at, and taking the loss on the extra I put into it.

I am curious to hear your insights about times when you had to deal with a loss, and how you dealt with it. 

@Marco Chaidez to be frank with you, neither is the best. You are asking me what is better out of two bad options. 

@Scott Passman is right that finding the best deals is more often than not done from getting an off market deal. That is not to say that you cannot find, or make, deals from MLS listings. I have found some in the past, and know investors in my area that.

If you are really interested in finding motivated sellers, the best way is online advertising through PPC. This gets people looking for you, and not the other way around. This is what we call showing intent. They had to actively search for you and end up giving you a call.

I have been doing this for only a few short months and have gotten 4 contracts that have turned into deals, and 3 others that I walked away from. I have fielded over 50 calls from sellers, 75% have been very motivated, and seen about 35 houses. I am continuing to work the leads I have, and know that I will turn a few more at least into deals over the coming months.  This is all on a budget of $4000 over that time span. 

I have found no other marketing that has produced this type of result. All I have had to do is answer the phone, and set appointments to see homes.

I know that might not be the answer you were looking for, but it is the answer you deserve!

@Jerell Edmonds You are very welcome. Keep me posted on what you are thinking and how you are going to execute and I will try to help you out.

@Jerell Edmonds The only thing that you should focus on when you are starting out is finding a deal. Don't think about how you are going to finance it, or who is going to rehab it for you. None of that matters unless you find a deal and you will just be spending time, mental energy doing research that you cannot use yet.

There are many many ways that you can go about finding deals. I actually just posted an article on here about some of the ways that you can find deals heading into 2020. You should check it out and start grinding.

Once you find a deal, it is fairly simple to find money, but again don't worry about that part yet. It is going to probably take you a bit to find a deal in the first place.

Read that article and start researching and learning about the method that you want to employ to hunt for you first deal. 

The only thing that I would change if I could is starting to work with @Jerryll Noorden sooner and getting the leads coming to me instead of trying to search them out.

@Jerryll Noorden's methods are far beyond anything that I have come across online from any other source claiming to know SEO. I am talking places like backlinko and guys like Neil Patel. He practices what he preaches. I have seen massive ranking gains since I started working with him just 3 months ago and am not looking back. I plan to take the number one spot for my area early next year by following his advice and performing the tasks that he has layed out before me. 

Even though I am not yet ranked number one, that has not stopped people from finding me on google and calling me asking me to buy their homes. These are literally free leads that I have gotten, and even closed a deal on