All Forum Posts by: Rich Carey

@Anthony Feola

There are unique challenges and opportunities to being a real estate investor on active duty.

I navigated a lot of this myself, and have a pretty solid approach to real estate investing while in the military.

Listen to my podcast episodes.  Biggerpockets 268 and much more recently Biggerpockets money 156.

make sure you are hitting up all the local real estate meetups and signing up for all relevant facebook real estate investment groups.

@Michael Williams

I work for a wholesaler (not in OKC) who does a good job with ARV and repair costs, but I'm not sure that's the main issue.

You have to put in the time and have the experience to come up with your own ARV and repair costs. Even a good wholesaler that is fairly consistent in these areas could miss things on a certain properties.

In most cities,  you can probably sign up to get offers from multiple different wholesalers, because at the end of the day you'll do your own due diligence.  Even if their numbers are way off, you'll know wha price you need to get it for.

I built my portfolio in Montgomery, AL up to 30 properties while I was serving in the military.

Montgomery is an awesome market because you can still buy deals from a good wholesaler (that's us) that actually cash flow.  

Flipping and using BRRRR works well here too. Our company employees are buying our own wholesale deals.

We are also in Columbus, GA and Lexington, KY.  Other markets we've identified as being great for investing.

The downturn in the market has made purchasing investments less competitive.  I've been telling people the last 2 years not to buy.  

Now I'm changing my tune.

Get on our buyers list and feel free to reach out to me about the specifics of these markets.

https://rapidfireinvestments.c...

Rich

Podcast Guest 268 and Money 156

Rent, keep educating yourself, and save up more money for a future downpayment. I'm a military real estate investor, and I say don't rush it. Put some money into TSP too!

I guess they are too busy getting stuff done to post here!

I just started working for a wholesaler, but have been in REI for 20+ years.

Seeing the transactions happen from within the company, I see sellers that are extremely happy for the value a good wholesaler brings them allowing them to sell with no hassle, no need to fix anything up, no need to clean stuff out.  Some are happy to get rid of something they inherited that they have no idea how to take care of.  They don't want to spend any money fixing it up and marketing it.  Sometimes painful memories are attached to the properties.  I've heard amazing testimonials, so that's the perspective I see.  I totally get this idea of hating on wholesalers for being predatory, but I don't see it in my company or several others I've done business with in the past.

I do see some shady training out there and I do see beginners in wholesaling try some whacky stuff and giving wholesaling the bad name is sometimes gets.

Rich

There are tricky rules about whether or not and how a wholesaler can compensate you for bringing them deals.  Talk to a couple larger wholesalers in your area about it.  find them through local real estate investing groups and online searches.

This failed wholesaling list may have some angry sellers.

They thought they were going to sell their property hassle free only to have the contract fall through and not sell it.

This sometimes happens because the wholesalers are inexperienced and/or the wholesalers locked up the property for too high a price.  

It might be a good list, but you'll have some explaining to do how you can do better than the last wholesaler did!

What are you using as far as help for your cold call scripts, sales letters, crm, etc.

Our company has used Steve Trang, and done very well with his training, podcasts, etc.