All Forum Posts by: Nick Perret Efferson

You got it, keep at it.

 Yes, it is definitely a people business and is rewarding. I was working fulltime in multifamily and it ate up my hours from 8am-6pm. I knew getting my license was where I wanted to be so I set a date of when I would get it and ended up getting it earlier. I found a team that specialized in investors and so I decided to jump in. Being an agent and investor is the path I chose to follow and I'm starting from the ground up. 

 Great to hear! How are you liking property management?

 Finding reliable, available and affordable contractors. But property management is made for those with grit. Some days you're a firefighter, some days you're yelled at. But a great property management company stands out and has return business.

 Hello Matthew, 

I am a real estate agent in Milwaukee in my first year as well with a focus on investment properties.I am coming from property management and now I am on a team that lists a wealth of investment properties, so a lot of my clients are investment focused. Any and all information is good in the beginning of your real estate journey. Saying yes to everything and surrounding yourself with investors and agents. Good luck with your journey.

Cold calling investors to pitch yourself. Going to investor meetups. Setting yourself apart from the rest. I worked in Property management to learn and get paid. Property management has a turnover rate so there are generally positions available.

 Without a doubt. Thanks for the insight. I am recognizing the players.

 Thank you for the insight! All solid questions to consider. 

 Hi Jared,

Any luck here? 

I just started doing this a month ago. As an agent, I cold call tax-delinquent owners to acquire business. Selling their home is not the only option I provide, I offer resources as well, like setting up payment plans with the city or using a HELOC. I have found that 99% get defensive if I mention that I saw they are back in taxes.

I have been doing the same in Milwaukee for the last few weeks and just finished my first week of followups. Had one interested in help out of probably 50 calls. I just refined my script and will attempt this week.

I also focus on areas that have recently seen a hike in property taxes.

I'm finding, here in Milwaukee, even turn key or a property needing 10k is attracting investors that want to offer at 70% of asking. So it must be the investors that I am coming in contact with? What I try envisioning for the investor buyer is what will it take to get these rents at or above market, and will this appreciate? 

In my thinking, a property that is currently rented at market, but needs 10k in work, could raise the rents even higher and offer additional equity to pullout, if say, a refi was done in a year.