All Forum Posts by: Philip Marzen

Well I first thought you could make a loophole by starting a property management company based in DE that you run. You are saying you need a physical address for the individual that would manage the property? That ruins my plan. 

Is there an easy way to live in PA but own rentals in Wilmington without giving all my money away to a manager? Some sort of loophole?

I am looking into buying a rental in the city of Wilmington and I read that all rentals in the city have to be inspected yearly and if you live out of state you need to use a property manager. Does anyone know anything about this and how all of this works? 

"Stop listening to others and focus on your gut. You always had a drive to be more than average and that is ok. People will tell you to be happy with what you have and that you have to stop working. Don't listen to them, just do you. You're smarter than you think, but you fail because you let others influence you. Most importantly, DO NOT HESITATE. You will have good ideas and bad ideas in your life. A bad idea is a lesson, not a failure. The failure comes from not acting."

Hello BP family. I am starting to focus on investing and producing cashflow. However, once I buy my first property I will be back at square one with little to no savings so it will take time to build up to buy another property. Would anyone suggest jumping into flipping homes first in order to produce "quick" cash, or should I stay focused on what my goal is even though it will be a slow process? 

Obviously what works for one person doesn't work for everyone, but if you have changed focus on your investing strategies I'd like to hear your story and how it affected you. 

THanks!

Hello BP Family. I'm a real estate agent and I have dipped my toes in the wholesaling pool before. I want to start marketing HEAVY for real estate, but I don't want to miss anything that may be a wholesale deal either. I've sent out letters already but they can get expensive. I've heard of companies where you can get postcards for under $0.15 a piece. Does anyone have a favorite company they like to use for post cards that is cheap? I plan to target my market very specifically so I won't be sending thousands and thousands of cards a week, maybe 100-200 every week just to start. Any suggestions would be very much appreciated. 

Thanks!

Thank you everyone for the input! @Shawn Kostoff and @Mario Ciccarelli I sent you both invites to connect. I'd love to meet up and talk business. I'm sure we will be able to help each other out in the future. 

Hello BP Family!

I am a licensed real estate agent in Wilmington Delaware and I am starting to focus not just on getting other people homes, but finding a rental property for myself. I know a little bit about a lot of stuff when it comes to investing but I am nowhere near an expert in anything. My goal is to keep networking with flippers, wholesalers, and landlords in the area, but I wanted to see if there were any here on the BP forums. So, is anyone here from Wilmington Delaware? I'm a real estate agent and am eager to learn more. I'm not looking for a mentor or someone to hold my hand, but if anyone is around to talk business with a newbie it would be very much appreciated. 

@Katie Miller I have not attended a webinar yet. Still getting used to the site now that I'm actually here and not just listening to the podcast. I'll do that though. Right now it's all about stacking money and learning how to get more to do my first deal. 

@Katie Miller, that makes sense. It just seems nearly impossible to do if you are just starting out and only doing buy and holds. Luckily my wife and I already own our house but I can't convince her to pull out a home equity loan to jump start our real estate journey. 

I'll just have to keep networking and stacking cash. 

Thanks!

I read a lot about people that go from one property to 10 in just a year, for example. How do they do that with rentals? I assume that they must be getting awesome deals where they bought very low, did a quick rehab, and then refinanced and had a ton of equity and then used a home equity mortgage. If they used all their initial money to buy the place then they are back at zero, have very little equity in the property, and are only cash flowing a few hundred a month, that's not enough to go buy another property in just a few months. Is there something I'm missing? Is there more to it than just an incredible deal?