All Forum Posts by: Richard Trayer

Hello Luis,
I would recommend jumping into the waters. 

Seminars can be great, but they can also empty a bank account without ever giving you real experience. Start working in your neighborhood and surrounding areas. Look for the motivated seller. Build a rapport with other folks that might come across or otherwise be linked to potential motivated sellers. 
Buyers are a dime a dozen, and most want to know "what do you have right now?". If you have nothing to offer them, they have little time for you. Create something of value, give yourself something to offer. Go door knocking, drive for dollars, speak with neighbors and friends, tell everyone you come across what you do and what you are looking for (keep talking about it with them so that they think of you when that chance comes up). 
It is a long process and most likely your first deal will be pure luck. Once you build the machine (your network) deals will start to come to you. REAL ESTATE is NOT a get rich quick kind of thing. It is however, a Build Lasting Wealth kind of thing. If you keep at it, you will be surprised by your success.
Being here (BP) is a great step. Seeking out mentors is a great step. Keep taking steps towards your dream and don't let yourself become discouraged. Find good partners to work with along the way and you will find the path that takes you where you want to go. 
Feel free to PM me if you would like to ask any questions.   

4800+ sqft (all original) Custom Built home in the highly desirable Westchester Estates. This home was last sold 1986 for $397k. It is in great condition (structurally) and just needs to be brought into 2017 with a legit makeover.

You know what you're doing? You spent some time in the batting cages? (Spring Training and all) There is $350k-$400k spread for the Real Investor. It is tee'd up and ready for you to rip it.

6 Bedrooms (including large master suite w/ private courtyard)
4 Bathrooms 
2 Fireplaces (1 basement level, 1 main level)
3 Car Garage + RV Gate/parking
Loft space (approx. 300sqft)
Atrium
Full finished Basement
Pool
Expansive, exposed beam, vaulted ceilings
Corner/Cul-de-sac lot

Personal family friend lost Father unexpectedly and asked help getting rid of the property. Knows what I do and knows that the house is outdated. Debts and carrying costs mean it needs to go. Please contact me directly. No drive-by unless I expressly make arrangement with you.

Aaron,
Welcome, glad to have you here. It seems you have done some homework on the subject and have some good questions. I will do my best to offer some advice. So you know, I am a licensed agent that works specifically and directly with investors. I wholesale properties and do some of my own investing (SFR).

Should you be investing? If you have the appetite for it, there is little to be said against Real Estate as a primary investment vehicle.

I think you are correct in your assessment of the current market...the down is coming, but how soon? No one could say for sure. With that in mind, you have to consider that the best time to purchase a "good deal" is always Right Now. So, whats a good deal? In SFR, my group wholesales properties with an expectation of:  

Purchase+Rehab=between 80% & 85%(ARV)...depending on the area.

That said, these are Fix-n-Flip deals. A Buy-n-Hold strategy often works on a slimmer margin or allows for a higher purchase price w/ less invested into repairs. It sounds to me that you are looking for a Buy-n-Hold sort of opportunity...Yes? At 26, I would say you found the path at a good time. 

Again, as it relates to timing, I agree with Patrick that you should begin, now, to study the market activity. Maintain your goal to purchase Late'17/Early'18 but also be prepared to pull the trigger if something great comes up sooner than expected.  

Best areas is a personal preference. Especially for a live in/ house hack. You will also have to factor price point and expected ROI when making this determination. Really, you need to speak, in detail, with an agent to determine the Best Areas for you to be looking.

Cash-Flow of $150-$200 per unit seems to me, a little ambitious. However, I can't really say because cash-flow is not to be looked at as a lone factor. I say loan because that is an other real factor in this sort of evaluation. Will you be using financing? 

The AZREIA is absolutely a great MeetUp to start with. Then from there find the subgroups that most suit your interests.

Hope I have been of some help. Feel free to reach out in PM if you like.

Hello David,
I don't disagree with anything that I have heard here. However, I would like to add that the idea of "Cash Flow" varies greatly from one market to the next. I personally work in the Phoenix, AZ market. While your California dollars will go a lot further here (buying more house/yard), they wont produce the same revenue that they would elsewhere. This is because our rental rates and purchase prices don't align in such a way to allow that you maximize on your investment.

I am not familiar with many other markets, however, I have heard from colleagues that the Texas market (specifically San Antonio) has a lower price point for purchase but also great rental rates. So your return (in regard to cash flow) can be much greater in certain markets. I am sure there are similar circumstances in other markets as well.  

My company, NetWorth Realty, is set up as a one stop for the investor. We are present in a number of the markets that you had mentioned. It may be worthwhile to look us up and possibly reach out if you find that our interests can be cohesive.

Feel free to get in touch with me to further discuss this strategy or other subjects related to REIinvesting any time. I wish you the best in your endeavor.

Richard Trayer

Hello Jon,
Welcome to Phoenix. you have arrived just in time to enjoy the brutal heat. Hope you have easy access to a pool. Haha. 
I'd love to talk with you regarding wholesale Single Family Residential opportunities. There is lot going on in this market. Success can be a lot to do with making the right connections and knowing who to collaborate with. Please feel free to reach out to me if you are interested in speaking any further about acquiring the right properties.