All Forum Posts by: Reilly Barry

My advice is to go with what you think you will enjoy more. You will make profit either way if you make a smart purchase. If short term rentals are something that really interests you, study that city and find out what type of Airbnb's are in high demand and low supply.

Hey Carl! Congratulations on the start of your Real Estate investing journey. This is an excellent plan, and how I believe everyone who is lacking capitol should buy their first investment property. The only thing I would advise you to do is save more capitol. Keep in mind you will most likely be paying closing costs, and any inspections you might order. If you talk to a lender in your market they'll be able to give you an exact dollar amount you should have before closing.

Hope this helps, best of luck!

Any deal that will make you money is a good deal! Definitely a win for you getting any property under market value in this current market. As long as the rent in your market will cover your mortgage you're doing well. Congrats on your first investment and good luck on all of your future ones!

Hi Zac! I'm really sorry this happened to you first of all. I would find an experienced agent next time you're looking to buy, and have them refer you to their most trusted lender. That lender is usually going to be someone your agent is very close to and has closed many deals with. While some things are unavoidable, This situation looks like it could have been avoided with a better lender.

Hey Gabriel!

I highly recommend Ricky Carruth. I was in the same situation mentally when I decided to go see Ricky speak live. I ended up joining EXP and have been extremely disciplined and organized ever since. He's super accessible, and all of his training is completely free. He introduced be to Juan Barreneche who has been coaching me more on a micro level since I joined his team. Shoot either of them a DM on instagram they will respond!

Hi Jerry! 

The strategy I've had the most success with is driving for dollars. Drive around neighborhoods with hand written notes expressing that you want to buy their home for cash and that you work with investors. Leave these at homes who are in need of the most work in each neighborhood. You can then enter all of these addresses into a skip tracing software (I use prop stream but there are plenty of good ones) and gather their info. Follow up with a call to each property asking if they received your letter.

Checkout Flipping Mastery TV on YouTube, he has tons of very helpful videos on wholesaling. 

Hi Jiminia, great question! Before you put in an offer you'll go and see the property of course. If you then put in an offer and it gets accepted, that is when you would book an inspection with a professional. If anything unsatisfactory were to come back in the report, you are aloud to exit the deal with your earnest money as long as it is within the inspection contingency date. (7-10 days usually) 

Hope this clears things up! The more showings you go on, the better eye you'll have for defects in the house that you're not willing to get fixed yourself. Feel free to reach out to me directly if you ever have any other questions!

Hi Ebi! First I'd see how the market actually reacts to the recession. The media is definitely making a big deal out of it but a recession is really just a fall in GDP in two successive quarters. It may not effect the market much if at all. In the case that it does cause real estate prices to drastically fall, buy and hold in the neighborhoods that were showing signs of appreciation before the recession. The rising interest rates will create more renters who would of been first time home buyers in a healthy market. Build equity and collect cash flow until the market recovers!

Hi Manuel! The first thing I would do is connect with a realtor who specializes in investment properties, or has investment properties of his own. That way you always have somebody a phone call or text away who can be your one stop shop for any question's or confusion you might have. They will also have access to attorneys and lenders who are investor friendly Themselves. Your realtor can also tell you what each area is renting/selling for to help you pick a market.

When it comes to picking a market, I would advise you to only pick one or two that you can become an expert in at first. Find somewhere that is within your budget, but also a place you would not mind expanding in.

Hope this was helpful, feel free to message me if you have any other questions.

Congratulations to you and your friend! Great success story, and I wish you the best on your future investments. What type of investments do you typically look for?