All Forum Posts by: Ryan Ino

@Chris Seveney  @Bernard Joseph S.  @Eliott Elias

Thank you for the insight! I will definitely keep all of that in mind.

@John McKee

Thanks for your response! In terms of commercial properties I've mainly been looking at small multifamily (5-10 units), but also been analyzing a lot of fourplexes since they are a lot more common.

Aloha e BiggerPockets Community,

I've heard on the BiggerPockets podcast and also read on other BP forum threads that LoopNet is considered to be the place where deals go to die. Can anyone explain to me how and/or why it has this nickname? I've tried inputting the numbers from some LoopNet properties on the BP Rental Calculator and have come across quite a few that seem like a good deal, but after hearing it's reputation I'm wondering if there's anything I should be aware of before reaching out to the seller.

Other forum posts mentioned that LoopNet is where sellers post listings that have already been on the MLS and did not sell. Wouldn't that make it a good source for finding deals since you know that they had difficulties selling the property, so you can offer below asking price?

Mahalo nui for your time!

Hi Tanya, it seems we are in the same boat. I'm just getting started as well, and I also live in an area where real estate prices are extremely high. I was really hoping that my first investment property would be near my home, but I've come to the realization that I need to look elsewhere. From what I've read online, California is a difficult state to find deals with a healthy cash flow in today's market. I was bummed to hear that as well because CA would have been my first choice if I had to look in another state. Also, I'm not too familiar with the landlord laws in California, but I think they have a rent control law that limits the amount a landlord can charge, which could make things a little trickier as well. 

I'm currently reading Long-Distance Real Estate Investing by David Greene, and it has made me a lot more comfortable with the idea of buying a property out-of-state. He talks about everything you can think of, such as important calculations/ratios, selecting a market, and how to build your team. I haven't finished it yet, but I highly recommend it. I also searched the BiggerPockets YouTube channel to find all the videos that specifically discussed out-of-state investing. I am still anxious at the thought of buying a home sight unseen, but reading this book and watching their videos has replaced at least some of my fear with excitement.

@Bryan Vukelich Thanks so much for providing such a detailed response! I just found King Khang on YouTube and am about to start going through some of his videos. Especially appreciate the info about the legal/contractual aspect of it, as that has always been a topic I've never been too comfortable with. At least now I have been pointed in the right direction. Hope it's not too rainy over in Kane'ohe! 

@Bryan Vukelich Do you have any tips/recommendations on how to get started in wholesaling? Thanks!