All Forum Posts by: Ran Iarovich

I like real estate more purely because of the leverage and ability to control what you own.

Firstly, I would identify what your goals are. Are you trying to grow your brand? Get more leads? Add more value to the community? All the above? 

Every goal for social media will have different strategies for how you can approach them. Once you have a general customer that you target you can start making content that is consistent and relevant. Social media is all about consistency and it can take months or years to build your account to the level that you envision. 

To stay ahead of the competition I would get some sort of social media tracker where you can track your progress as you go along so you can make your content better and better. I've heard great things about Loomly but if you were to post on Facebook and Instagram you can stick with Meta Suite. Maybe even ask ChatGPT to build you a content schedule for a month by month and week by week basis

( Planning - Building - Testing - Revising ) - Repeat will ensure you grow your account consistently. 

Let me know if you have any questions and if I can help. 

Best,

Ran

Well you already took the best step that anyone could and joined a group of thousands of investors who had the same question when they were starting out. 

I would start developing your dream team. This will be your go to people who work in the industry 24-7 to advise you on different parts of the process. 

Now there is a lot of different parts of the process but the best way to start is first getting a mentor who has been through it and has shed blood, sweat, and tears to build their empire. This person would most preferably be someone who is looking to help a young kid rather than use you for his own advantage. This is the person that you will try to emulate their systems and models before you can take your own track.

For personal finance, I would go out to find a personal adviser or tax adviser at least that can give you all the intricacies of legal paperwork. This person will give you the pros of cons of different investments as well as show you how you can save every cent with special regulations and rules set in place 

For real estate specifically, I would then go out and try to find your realtor. This person will be almost your right hand therapist who can help you with all the fear and mystery behind the fogs of real estate. They will be the shining light that can lead you through the wacky market that we are in. A competent realtor should be able to refer you to title and escrow companies, lenders, investor groups, and most importantly identify your goals and provide you the properties for them. 

Let me know if I can give you any recommendations for the above 3 as that is the path that I took and found to be most efficient and worthwhile when starting out. 

Regards,

Ran

Looking at airdna, vacancy rates, possible repairs or modifications, cost depreciation possibilities, are all great places to start to maximize your profit. 

Also different banks have different loan programs. Try to talk to a bank that is familiar with short term rental programs or a realtor that can refer you to some to see what is available. Remember you can always negotiate terms 

Let me know if there is anyway that I can help,

Best,

Ran

Basically, you have to be your own therapist or find someone to help you push past your anxiety! Great post! 

We've all heard of all the ways that AI is going to take over all our jobs, our governments, and eventually overtake us terminator style. 

This may be a bit of an exaggeration but the AI push is real with the industry expected to grow twenty-fold by 2030. 

I'm curious what the BiggerPockets community has to think about the usage of AI and how they have implemented them into their systems and how they see the real estate industry changing in the next few years. 

Personally, as a real estate agent, I've used countless programs such as ChatGPT, Runaway, Midjourney, and many more specific ones to increase my workflow and quality of work. Curious to hear if anyone wants to contribute with me toward the future of AI content creation - please reach out! 

Best,

Ran

Most of these market factors can be determined by looking at niche.com and searching for your neighborhood of choice. 

I would also recommend trying to contact a professional in the area who can provide you with a different perspective. You are looking for individuals who've had years in the market and have both a resident and investor perspective. 

Reach out if I can be that perspective :)

Best,

Ran

I usually recommend to others to get the perspective of doing their own research and consulting with professionals who work in the area. That way you can form your own opinion and make decisions based on as many perspectives as possible

I'm an agent that services the entire Eastside and Seattle for investors and has often aided with house-hacking projects. It is one of the few ways to take hold of the fantastic appreciation in Washington while at the same time breaking even or even cash flowing. 

I've seen a lot of success in places near the University District because they will always be rented out by students and you can expect 6 - 12 month leases because of the school year. The only con here is that you will have to learn how to manage students and develop a different framework than any other normal rental (again a good reason to consult with a professional).

U district has a lot of different zoning options so make sure you understand them before picking a property. They will determine how many people can live in the home (which determines your cap rate), what future upgrades and developments you can do, and if the home can even be house hacked or not.

Helpful link to U district zoning:

https://www.seattle.gov/opcd/ongoing-initiatives/u-district-...

Reach out and I'd be happy to set you up

Best of luck,

Ran

This is a great investment for this market. $500 in excess cash flow and you can always refinance if/when interest rates go down. 

I would go to option #3. You'll be able to diversify your risk between the 2 options if for some reason the numbers on either one don't play out like they're supposed to. 

If I may, I would also include option #4. Go the solo route by yourself in the beginning and invest $110k into something that YOU can control and know rather than entrusting a contact.

One of the big pluses of real estate is being able to control and know exactly what you are doing with your money. The former 2 options take that out of the equation since you will just be putting your performance into someone else's experience. To achieve financial freedom with a clear consciousness you'll need to build your empire on your own, not someone else's back. 

Best of luck,

Ran