All Forum Posts by: Rito Altamirano

as an agent I can tell you i wouldn't trust 95% of Realtors with that task. most Realtors I talk to can't even tell you what r.o.i is or tell clients "yes this place cashflows 1200 a month" and they're literally just quoting the current rent rate. id also say your expecting to much from a Realtor especially if your just "shopping" if you signed a buyers-brokerage agreement and duties owed and upfront gave them your expectations, then I'd say your expectations definitely arent high.

@Omar Cantu take it from someone whos just starting out and is your age and can relate! im 25 i WAS making 3200 a month and my girl is making 4000 a month. and still live at home now for the last year. ..but...we were young and were making decent money. we had a rent payment of 1400 a month, my girl had a 2014 c300 mercedes 340 a month, i owned a 2010 bmw 135i that i paid 29k for with 11k miles. i poured money into the thing it had jb4 50%e85 downpipes intercoolers full exhaust meth injection etc! Best 500hp of my life...BUT i was paying 580 a month! AND 170 FOR FULL COVERAGE INSURANCE ....our priorities were all wrong. over the last 3 years we made 90k each year and never made an investment we have nothing to show for it matter of fact we were always broke and worried about bills. so we decided to move back home, traded the Benz for a kia forte for 120 a month and cut the rent out of our life. i kept the 700 a month debt of the beemer . 6 months ago i lost my job..5 months ago i crashed it i cried for a few hours and told myself oh well we will go buy a new one in the morning. then by morning i realized my insurance will pay the car off and im now debt free! crashing was a blessing in disguise. my girl said no to a new car as months went by ive realized how stupid i was and over the course of owning the car i coughed up 15k on it. so i spent a fha downpayment for a 4plex on a car i no longer have. i told myself never again... until its something i really want and i CAN TRULY afford it. especially now living off of my gf income only, we could have never afforded any of that stuff and would be stuck in a 6ft hole. my point here is life changes and it changes fast. i loved my car as much as you love your truck but have you considered what if you lose your job? and its hard to give up something you worked so hard for ... so just have some one crash it... lol jk but seriously losing the car was the best thing that ever happened it made me open my eyes to what i truly want to accomplish and thats owning a twin turbo gallardo or a GTR by age 30 lol. and spending all my money on depreciating assets now isnt going to get me there. in the last 5 months ive got my real estate license and im now with century 21 americana and WITHOUT ME WORKING just my girls income we have managed to save up 6k ... aiming to buy a fourplex for xmas! if not then tax season for sure lol. GOOD LUCK MAN like everyone else i say get Rid of the truck now. you said 44k @1.99% and you owe 24k sounds like you can sell it for at least 36k and use the cash you get back for a downpayment..... the answer to your problem is in front of your face you already have a big downpayment but do you really want to invest as bad as you say you do? WISH YOU THE BEST

hello RE agents of BP. just curious to what most of you are doing in today in 2017 for marketing and attracting listings and buyers. do agents use the same marketing techniques as investors such as wholesale and rehab flippers?...i.e driving for dollars, yellow letters etc. if you use multiple marketing techniques, which work best for you? which have not? how are your marketing expenses looking? mainly asking so i can learn some tips and tricks from the pros. i finally got around to finishing my course and have my pearson vue exam on june 8th and want to start getting marketing ideas now. thanks for taking the time looking forward to hearing from you all!.

@Omar Merced with this said how will choosing the right brokerage affect my investing? is that something i jeed to consider when choosing a broker?

@Omar Merced @jeffkeller i will be becoming an agent full time as my sole job but will be focusing heavily on investments. i started wholesaling marketing in january no deals but got call backs, im looking to purchase an mfu this year and save up enough for a down payment with an HML for a flip early next year. i meant to say im looking to finish the year off with the same amount i made last. this year ive made 15k so far so i only need 35k to go. based off my basic math and average home price of 220k and 50/50 split im assuming i need to sell 8 to 12 homes by years end to make that difference. my previous work experience of being self managed and confidence leads me to believe this is easily possible especially with better flips. as far as money and needing a job in the mean time im ok there too. i have 4k in my credit union for auto payment for the whole year set aside already, my gf makes 50k plus bonuses so near 60k i was able to receive 1600 month in unemployment benefits and can continue to receive them for 6 months or until i receive my first commissions check. we live at her dads house and our monthly expenses come under 800 dollars right now. were saving 2000 to 2500 a month. my GF has my back and supports me 100% and is actually yelling at me everyday for not getting done sooner and not working harder so she's quite motivating lol

hello all vegas locals im almost done with my license should betaking the test in 2 weeks or less wondering if any agents or brokers out there can recommend a good brokerage to start with? I have a goal of replacing my old income of 50k, id like to accomplish this within my first year while receiving as much training as possible. i met with wardley real estate and their fees and contract splits and trainings seemed reasonable . so if any one in the las Vegas summerlin Henderson areas of nevada have a recommendation let me know thanks!

buy her the home of her dreams via killer fix and flip deal ? she gets to customize her home to her liking and you get to have the fun and experience of investing her money for her. then you will have high equity and cash out refi a bit for more deals down the line.

@Jordan Johnson I found at least 7 people who said they were strong buyers before I started this again. However I also need more and trying to get to at least 100 strong buyers by the end of the  year.  Having a few buyers and working on building a buyers list will be crucial for a serious wholesaler. It definitely  would've been good to have at least 2 before  starting to lock up contracts, but if you do lock one up before having any buyers just start hustling and searching for buyers now!  Via the forums, Craigslist post,  Reia meets, even facebook just hustle!

If you do your due diligence  on the property and the numbers make sense to get a sweet deal on it then there's absolutely no reason you shouldn't move it fast. The only reason would be you not trying to market it. Good luck!!

As for contracts  find local Reia group leader on here and send them  Message! Your going to want to network as much as possible anyways. 

I might not be the best help I'm pretty  new too. But I've been working with lots of callers recently and met with one. I have been studying wholesaling and marketing for over a year religiously too.  

But obviously if he's a veteran investor he's familiar with wholesaling and already recieving your letter I'm about 80% sure he knows your intentions.
If you want a stronger relation  with the seller be honest about it all. especially if you're new and feel you can't get a buyer after the contract.  However never lock up a contract if you don't believe you can close.  

As for questions : you want to find the best price you can get it for so 

What's owed if not free and clear? Mortgage, liens,hoa dues,  etc 
Why selling? Find the motivation this will help your offer.
What they feel it's worth and why?
Sell By when? 
Last repairs done?   
What repairs needed? 
Those are pretty  much the basics every house might have a few other questions depending on situation. 

 This is my second direct mail campaign things have gotten slot easier and fluent.  
My first mailing was a year ago and gave up and stopped answering because I had a contract fall through with 15k potential profit. I got nervous and felt I would screw up everything. But I'm back. 

Good luck and don't let nerves get the best of you. You can handle it!