All Forum Posts by: Ryan Donohue

@Tim Johnson no problem! Don't be scared to fail or messup(if you can afford a little extra on marketing) rather than waiting potentially forever for everything to be perfect.  I'm glad I just jumped in because I found what works best for me rather than listen to every pointer and try to integrate them.  Keep us posted! 

P.S. to tag someone type "@" then the first few letters of the persons name then CLICK on the little pop-up.  If you didn't know...Took me a while to figure out.

@Tim Johnson Fear not, I was the same way until I just jumped in and did it. Basically, you'll need to focus on a property type(SFR, mult etc), focus on a few towns, and what type of investing you're interested in:wholesaling, buy and hold, fix n flip, etc...Once you have your mind set then the list gathering and letter making/sending is easy. Don't wait until all the lights are green to start driving! Just know a few steps ahead and what your serious goals are and do it! I used listsource.com for my list and yellowletterscomplete.com for the mailing.

P.S. you really don't need to overthink the verbiage on the letter.  Just pretend you're in their situation and what would make you want to call YOU.  Maybe even throw it in front of a few friends to see their thoughts!   

@Eric D. I definitely agree with @Charles Kao.  The only problem is that sometimes if a rehabber/investor finds a good wholesaler they'll likely want to keep him/her to themselves.  So doing your own due-diligence will be your best bet.  Often times(or at least the one I attend) at REIAs wholesalers can present offers for everyone to analyze and see if they're interested.  Find out who is getting a lot of leads(whether they go through or not, volume is good) and if they convert those to under contract leads because conversion is the other side to the lead generating sword.  

@Mike Reece congrats on the success thusfar in your buy & hold/rehabs!  My suggestion(since it's what I'm doing/know) is to see if you'd be interested in wholesaling.  Theres so much to explain but maybe give that a review?  Any questions feel free to reach out.  

@Luke Borello congrats on joining BP and welcome!  I'd suggest watching some of the podcasts on the youtube channel BP has to learn more about analyzing the properties.   Once you have the investor "brain" you'll be able to analyze properties without even adding all the numbers, also knowing the area helps!  Hope to see you around the forums more, never stop learning! 

@Darren Sager thank you for putting together such an amazing meetup and thank you J Scott and Carol for sharing your story and really great tips! It's truly how much you guys were able to share and honestly the whole REI world as whole. I'm so glad I attended and gained some great new friends in the process. I definitely look forward to attending more in the future and building my flipping knowledge when I make the switch from wholesaling to flipping!

@Sunny P. I came upon a BP Blog recently that is essentially covers my thoughts on the topic so I thought this would be the perfect place to share. Remember though, everyone is in different situations and has different REI goals!

https://www.biggerpockets.com/renewsblog/2012/11/1...

@Phil Chong what is your plan for this property? I'd have a detailed plan A, B, C, D etc...so you know you're covered when things go wrong(because yes, they will). If condos are renting for $3,200 for only a 2/2.5 they must be nice...so doing the rehab with that budget to get that kind of rent might be tough(my experience, you might be 100% correct). My suggestions is outline everything on a piece of paper, go make a friend with an awesome REI at a REIA meeting and put another address nearby so you cover yourself and see if they think its a deal.  I'd like to see how it works out so keep everyone up to day with what you end up doing. 

@Joseph Prettyman welcome to BP! I have been attending an awesome REIA that meets the first Tuesday of every month in Newark. I found the REIA's are some of the best bang for your buck($10) because they have networking, education, and millions of resources, and more networking(really important). Shoot me a message if you're interested in attending one and I'll shoot you the link. Good luck!

Congrats! So will this be a fix n' flip or a buy and hold? Definitely keep everyone up to data the work progresses. Working through my first wholesales; a short sale, and a tired landlord!