All Forum Posts by: Peter Mckernan

This can go so many ways as it did already. The goal is to do both, or in my case all three (401K, IRA, and real estate). It is all up to the eye of the beholder since this thread has been going on this long and is as deep intellectually it can be that shows that fact.

This will always be a long running conversation about what is best and what is the worst. It should be what you (the investor) choose is the best course of action for you and your family. In a quick breakdown, I look at the 30,000 foot level. More money into retirement while saving for the next deal increases your streams of income at your retirement age (59 1/2), gives a tax break each year, and is taken out of the paycheck before it can be spent! All those options are great because as long as those investments are in great funds you will have those TWO streams of income at retirement. These income streams add onto the countless streams of income from the rental properties a person has in their portfolio. An added advantage! 

At the end of the day it is what a person that is looking at retirement feels comfortable with along with their spouse support. Everyone’s situation is different and retirement is an important topic for everyone, tailor it to what you believe is the best course of action for you and your family! 

Of course!! Good Luck! @Josh Rorie

@Josh Rorie

I would do both! Send mailers and drive for dollars. This will reinforce that you are the guy to go to. If you get a door slammed in your face by one person, be sure to send a mailer to that address for that person (that may like that advertising better than door knocking). This steady stream of marketing pieces will stream and stream, after you are a household name due to mailers, knocking on doors, and word of mouth from other people in the neighborhood you will be in! 

It will take TIME, but if you work on one area eventually you will breakthrough and keep going! 

Hey @Al Casino

I work as a part time agent; however, you should work on your strengths to add value to those people that will be your clients. In your situation you have experience as a banker with the focus on real estate and credit. This can give you the advantage over other agents that have not worked in a capacity that you have. 

If your clients have questions regarding lending or anything that you have done with your full time job then you’ll be able to answer those questions without having to reach out to someone else for that information, which will build confidence in your skills and in your clients’ minds.

@Marcus Auerbach

Great assessment for the area your property is in, that does show a lot about the street and neighborhood. This type of holiday spirit goes a long way, and it shows the great personalities of people within that community.

I’ve had two different thoughts on this scenario. On one hand the vendor that you are using gets offered to the client and then your vendor becomes too busy for your requests is one way to look at it. 

On the other hand the vendor is referred to the client they use them; however, the vendor stays committed to you as the person referring them our due to the fact you are bringing them business consistently and referring their services out to someone else.

I would take the second since that vendor has done so much for you and you are rewarding them with a job well done by give them more work to provide a better life for themselves, their family, and their business. @Steve Rozenberg

@Marvin Wu

Hey Marvin! Welcome to the site! You are in the right place to get some great tips and information from experienced people in the industry! 

If you have questions, just reach out like you did with this post and you will get a lot of comments and directions back on whatever topic you are looking for.

@Tim Nelson Buildium is super friendly and yes, there is a fee. The platform charges $40.00 a month for anything under 200 units and anything above 200 it changes to $200.00 a month.

@Albert Bui it is not affiliated; however, it currently has the same format. 

It’ll be good seeing you there as well! 

@Lucky B.

Have you reached out to a real estate agent or a title rep to grab this information? They can direct you in the write way to find this information and get you the answers you need. If you do not have one of those professionals in your SOI you can search for them in your local area in BP and I’m sure they would be willing to help out.