All Forum Posts by: Owen Dashner

I would take 100 of those deals, that's pretty strong!

@Melissa McGinnis nice! Where is that one located?

@Jody Sperling holy crap - is the roof made out of copper???

Humblebrag - I just bought a house (on 2 lots) on Monday this week for $1,000! It is in a small town about an hour outside of Omaha, NE.  It is by far the cheapest property purchase I have ever been involved in. She is a beauty!

I am curious what is everyone's personal record is for cheapest property purchase and where it was located?

@Kellyn Cameron, I think I can speak for most investors when I say that they would be thrilled to be approached by someone offering private money!

- Find out who the players are in that space and start networking and making friends with them.

- Get face time (coffee, lunch, beer) with local brokers and property managers who work with multifamily owners.

- Look at FB marketplace and Zillow for multifamily rental advertisements and message the people advertising them to see if they might entertain an offer.

- Get a list of all the multifamily properties in your target area and start marketing to them (direct mail, skip tracing, cold calling).

- Regularly attend your local REI meetups and REIA. There will be several owners of multifamily properties there. Get them drunk and make them sign purchase agreements for their properties on a bar napkin. Follow me for more creative negotiating tips. ;)

@Maulik Vachhani, not on a primary residence, as I have not shopped for that type of loan for quite awhile.  Best bet would be to talk to a broker for some options.

If you don't have an immediate place to put the cash, I would consider getting a HELOC (instead of an amortizing mortgage) to access the equity whenever you need some/all of it. That way you are only paying interest on the money you have deployed, as opposed to the entire amount.

1. Lay off the doughnuts
2. Implement a version of the Miracle Morning and do it every day.
3. Maximize your downtime. Listen to every investing podcast, YouTube channel and self-improvement book available while out driving around.
4. Attend (or better yet, start one) local investing meetups and REIA, and mix in a national conference once a year.
5. Network like your career depends on it, because it does. Continuously level up your circle of contacts and look to add value to them.
6. Seek out and work for a successful investor or agent who works with investors when you are first starting out so you can learn the ropes.
7. Go walk through 100 houses so that you understand values. Being behind a desk is great for research, but it is no substitute for physically looking at properties.
8. Buy where the good schools and jobs are located. Cashflow is nice and pays the bills, but appreciation is what makes you wealthy.
9. Don't chase shiny objects. Master one aspect of investing before moving on to the next.
10. Life is short. Don't wait to pursue your passion.

@Kyle Keller, while not active in hotel investing myself, I have interviewed 3 different guests on our podcast lately that specialize in buying, repositioning, converting and flipping hotels (respectively).  Shoot me a note and I'll see if I can connect you with them.