All Forum Posts by: Neil McCarthy

Sean,

I work for a law firm here in Omaha, NE that can definitely handle setting up an LLC for you. If you're interested feel free to reach out to reach out to me directly.

Neil

Welcome to the Omaha REI community! I think the most important tool for young investors is developing partnerships. A good partner can fill in where you might lack be it money, hustle, or knowledge.

Hey Michael! I like to pull rent comps from Zillow, Rentometer, and Craigslist. The easiest free option is Zillow but depending on your location it may or may not be accurate since it is pretty heavily influenced by listings on Zillow. Craigslist is another free option but is a bit clunky and may not provide great comps. I prefer to use Rentometer since it can be free (the Rentometer Express App) or with a subscription you can pull detailed rental comp reports. Over all I have found that these all can give you a rough approximation of a fair price and averaging them is a good way to settle on the number you want to charge.

Jerryll Noorden, since it seems you are completely against DMM, what are some resources to learn more about effectively using PPC and Facebook ads?

Two things I know about direct mail marketing at this point.

1. It will cost some money. There are ways to minimize cost but there will be some up front cost to any campaign.

2. Consistency is key. I have heard it at least a dozen times across half a dozen podcasts that if I am not willing to consistently reach out to the same people with my DMM campaign (ideally 6+ times each) I might as well not bother DMM at all.

What I need to know now is how to deploy my time and money in the most effective way to maximize the number of good leads.

Advice for systematization and automation is of particular interest, but any and all advice is appreciated!

Jerryll Noorden, since it seems you are completely against DMM, what are some resources to learn more about effectively using PPC and Facebook ads?

Great deals are the lifeblood of any business and real estate is no different. Unfortunately, it seems that new deals are becoming rarer and rarer and that was before the current crisis threw a wrench into the global economy! New listings are drying up on the MLS as homeowner fear rises and foreclosures are being halted in many parts of the country leaving two major spigots (temporarily) shut off. This has driven me to look at wholesaling as a way to develop a new source of deals while also providing some income I can plow back into new rental properties. The trouble is I am new to the idea leaving me so ignorant that I'm not even sure of what I don't know! I would greatly appreciate it if anyone could help explain some of the important aspects of the wholesaling process or point me in the right direction to find good reliable information on wholesaling in Nebraska. Thank you!