All Forum Posts by: Rafael Norat

Just notices all the system talk! Agreed there... D areas have a lot more variables where experience is key. But if you're interested, walk the area, and feel that you're in your comfort zone, then find someone who made all the mistakes already, stayed there, and knows what to do..

@Isiah Ferguson

The upside is all dependent on your system. A good system will work anywhere. I know plenty of successful investors in D-like areas that have great management, maintenance, and good relationships with the assistance programs in those areas which is critical to keeping your vacancy rates down. With that said, those investors have usually been there for a while to build those systems. At that point, they usually have a good feel on the pulse of the area and can tell when the appreciation is on its way.

If that's your interest, I would suggest going to local REA and find that expert in that area..

Best wishes!

@Shiloh Lundahl

You've received some great feedback here... I would add:

1) Mindset: People new to real estate often still have co-workers who don't invest around them and therefore struggle to develop the investor mindset which is critical to taking steps forward.

2) Distrust: As stated here, there are so many different angles, approaches, and money lost trying to pick the right one. So, new people always proceed with caution which can be justified.

3) Managing Expectations: You mentioned its not that you're upset, but they aren't meeting your expectations. Try throwing away your expectations and just working on your system. If your system works, at some point you'll reap the rewards. Not to say it doesn't now, but sometimes your expectations can affect your mindset and draw you of course.

4) Keep growing and building: Be patient, keep learning , and expanding. Sounds like you're on the right track.

Best wishes my man and keep it up!

Anita Gee I'm sure this happens on a regular basis, so don't feel bad. Just get your attorneys opinion and make a decision accordingly. You may have a legal case, but the fees may outweigh the end profit. Your attorney should be able to give you options. Also get feedback on your contracts to see if there were weakness there which may be fixable in the future. Did you go to a notary? If it, get feedback there as well. Basically, do your best to put yourself in the best legal situation possible and move forward. Worse case, this is a lesson learned that will make your better in the long run.

Jay Hinrichs Great post! Sometimes it takes a while to find the right people, sometimes you get lucky right off the bat. But a good realtor is definitely worthwhile in legitimizing your company and being an integral part of your overall mission. Agreed on all accounts!

@Carlos Rodrigues

What did the lender tell you is the factor preventing you from qualifying for more? They'll look at several factors including for Debt to Income Ratio, credit score, and such. Get an answer as to what is limiting you and check with multiple banks. If you repeatedly get the same answer, then you at least know what to expect and pursue another option such as a co-signer.

@Marquis Ephraim

You really need to know the ARV to put on investment value in place. If you're wholesaling, any investor will want to know your opinion of how much money he'll make before doing his own homework. Do you know any realtors that can help provide comps? Do your best with the services you have to comp and have a realtor confirm for you.

If its hard to comp, it will be hard to sell to an investor.

@Devonta Taylor

Good attitude man! I would also say continue with your license. That's great experience and will only serve to strengthen what you bring to the table. I got mine last year and learned a lot just going through the process.

It depends on how you plan to invest with the money you'll have. Try laying out a gameplan based on how much you'll have and what you'll do with it. Also try determining your end goal number. How much do you need passive monthly to retire? Work back from there and develop your yearly plan. A clear picture to your end goal will help define your steps forward.

To add, upfront impression can only show part of the picture. Over time you'll tell what's really there.