All Forum Posts by: Ofer Eyal

Hi @Andrew Lee - I'm not a wholesaler but have done my share in marketing. If I were to approach this I'd shoot for niches. 

Imagine a seller with a 4 bed 2 bath property getting 2 messages. The first is a general, something along the lines of: "Need to sell now? I got you covered..." while the second is more specific: "Having to part with your 4 beds, 2 baths home? Family-size homes are my specialty. Here is how I can help you..."

HTH

Hello @Doug Hogan and welcome!

Here you have done your first step out of the books and reached out. Well done. Set you goals, keep taking it one step at a time and soon enough you'd be amazed how much distance you covered!

Good luck buddy!

Should I wear jeans and T shirt or a 3 piece suite?

This really depends on what is your strategy. Are you looking to build equity? cashflow? quit investing and just live off other income? Do you own 200 other properties or none?

@Jim Thorpe Since you are having trouble finding 1 great deal I wouldn't go into wholesaling - which is basically making a living by finding lots of great deals.. You'll only increase your problem rather then solve it.

Sounds to me like you need to improve your marketing - open more channels (direct mail, etc.) in order to find great deals.

Hello @Manda Gouvion!

A couple of things come to mind:

1. Concentrate first on getting a great agent and then get their help with finding great contractors. 

2.  I really like the contractor selection method that David M. Green writes in his book "Long‑Distance Real Estate Investing"

3. Read his other book about BRRRR

Best of luck with flipping and of course with becoming a mom of two! 

Thank you @David Avery!

Hello dear BP community,

Before giving an initial offer on a SFR for a flip, I need to get a ballpark on the rehab costs to know if it's even a viable investment.

How do I go about estimating rehab costs when investing out-of-state and it's my first time in a location (no relationship yet with a contractor)?

Thanks,

Ofer

@Alton Griffin Hi there,

It seems that you are trying to handle a legal issue on your own. I'd get legal help - those $$ saved might turn to $$$$ lost.

Having said that, this might be an honest mistake - copy/paste from another agreement. I'd talk to the seller and ask him or her to correct this.

@Sean Lechelt Hi and welcome.
A few of thoughts:

1. Good or bad markets depend on your strategy. Buy-and-hold for 30 years is less susceptible to current marketing conditions than a buy-and-flip.

2. It's always about getting the great deal. Those can reduce risk tremendously. Yet, obviously those are rare to find and rarer to succeed acting upon once found. Eventually it's a numbers game - go through hundreds of listings, bid on a dozen or so great opportunities and win one..

3. Start by finding a great location and an amazing Agent and build great win-win connections with him or her. They will be able to find you great deals, open your eyes to new strategies suitable for your needs and the market conditions. 

4. Always: get educated. Read the books. Don't just rely on forums, podcasts, webinars, etc. Books let you tap into the minds of the most savvy and experienced investors. Invaluable resource! Read about what great investors did when market conditions where similar to what they are now. How they operated.

Good luck!

@Matt Stevens First, get legal advice man. What you 'save' by avoiding paying an attorney now, you may - and probably will - end up paying back with dividends down the road... Every case is different.