All Forum Posts by: Ola Dantis

Most have suggested great ways to evict the tenant. You should check TenantCloud to help you collect rent. 

Also, be flexible and ask the tenant how they'd like to pay rent to see, and sometimes you found out that Venmo or CashApp is one of the options. 

Oh, never accept cash as a form of payment. Good luck as you are starting your journey in the game! I wish I started when I was 19! 

A quick back of envelope analysis you can do is what is the Rent-To-Value [RTV (best to be ≥1%)]. 

For instance, if you buy a duplex for $300k, you want the rent to be at least $3,000 per month. Though this isn't a full analysis, this method can serve as a quick yay or nay for you before doing a deep dive on every deal you come across. 

Sure, a deal can be at 0.8% RTV and could still work. 

With COVID, things are moving much slower! I think what you could do to fasten the process is just to be on them every day by checking in. 

We are in a different time post-COVID. 

Perhaps, in the very distant future but San Antonio is still in TX, a state with very landlord-friendly laws, which indirectly affects rent growth, so I'm not quite sure it is an apples-to-apples comparison unless I'm not following your point.

Originally posted by @Dorian Young:

Originally posted by @Ola Dantis:

Pretty interesting to see Sacramento on the list... 

How so? 

Since Covid, Sacramento has seen an increase of Bay Area folks looking for a more affordable market close to home. Demand is high and supply for rentals at a low

The rental and housing market here is extremely competitive 

 Fascinating! I guess the overall CA minus 5.0% rent growth is what we all are used to seeing out of CA as a state. 

I hope the Bay Area migration doesn't exacerbate the affordability in Sacramento over the next few years. 

Who says you can't make a ton of money with Instagram OR Instagrammable methods?!!!

Love it!

@Sara W. 

One of my favorite metrics that is never talked about is Return on Stress (RoS). Yes, an investor can put together an out-of-state team and try to DIY but it can get very busy and some investors just don't have the temperament.   

At the end of the day, it all falls on what a particular investor is looking for on the Passive to Active spectrum. Returns will inevitably vary. 

Another way to get involved is to find a partner on the ground in San Antonio and invest alongside them. 

Since you are away in Japan right now, it is ok to find a partner to get you into the market and from there you can start growing your own portfolio. 

Magic happens after you actually own a couple of properties in an area. 

To answer your questions quickly:

• Where do I connect with the team with the right mindset? You don't need to. Just get started and all that would happen organically 

• How do I analyze deals like a professional investor? Analyze your first deal and over the years (or 10,000 hours) you will become a professional investor

•How do I take action and buy a real estate property and profit? Buy your first property 

•Where do you find private lenders? Ask 10 people on BiggerPockets AND Ask 10 people on the MeetUp group you are going to find today by searching real estate in Brooklyn on Meetup.com. 

•Is it a bad thing if I have no money to start? Yes, not having money doesn't help BUT how much money do you need is the question. Maybe you need 3.5% down for your first home ($100k) - yes that home may not be in Brooklyn but somewhere else in Beautiful America! Go find that city and move there. 

Starting your journey in real estate takes a lot of doing and sacrifices. Get started today! 

I don't think it will hurt you to have your license especially if you are starting young to learn the industry so far you focus on your goal of investing long-term and not just selling short-term. 

Also, you mentioned fees, the learning process, and the long hours, all of which are prerequisites of being a successful investor. 

Start now and focus on the long-term goal of investing and you will be just fine.