All Forum Posts by: Salvator Lorick

@John Lyszczyk Thats really good advice with the real estate agent. I never thought of contacting multiples to get different opinions. Having a good agent is definitely a bonus. Like I told Justin not knowing clearly what I want is a big problem that I need to handle so that I can have a better conversation with an agent. I was just saying the other day that I wish I knew what questions I should ask the agent, so thanks. I really appreciate your insight

@Account Closed Thank you. I just moved here right before the virus so its kind of hard to get a good feel for the environment right now. Hopefully when things open up more ill be able to attend some meetups. House hacking does sound good and everyone seems to suggest it but it would not work for my family and I at the moment.

@Joseph Cacciapaglia Yes the market that ill be in is pretty high and over priced. I'm looking to shift my focus to the mid west. I wish house hacking was an option for me but unfortunately with my wife and kids it is not(not a lot of multi family where im at). Not knowing what I want is the another problem that I ran into. Kind of hard for a realtor or another investor to help if I can clearly spell out what I exactly need help with. I should probably focus on that and then look for a market. Thank you for such good advice I really appreciate it.

@Luis Vaca Yes I've looked into city-data and they give a lot of good information, definitely a good tool to have when deciding. That is also a good point about the good cash flow but in low C or D neighborhood 

@Randall Alan Hey man my apologies for replying so late but that is some amazing information and I really appreciate it. You honestly broke that down for anyone to understand or maybe real estate is that simple but I'm making it hard. I would like to know what is your process before you even begin running the numbers? Like how did you know that was the neighborhood you wanted to look for rentals in?

Thanks

Hello everyone Happy 4th,

I see a lot of advice on how to analyze a deal, how to close a deal and a lot of other amazing advice. But there are some steps that need to be taken before you even begin to analyze that property. I believe that this is where a lot of us new investors get stomped because know that we have an idea on how to invest, we go out looking at all of these properties but we really have no idea where to look. So I guess my question is what are some simple techniques that are being used to evaluate a potential market and submarket? what websites are you using? who are you calling? what kind of questions did you ask when you called? etc etc etc

Thank you in advance to all who reply. Your answers and help is truly appreciated

Hello everyone Happy 4th,

I see a lot of advice on how to analyze a deal, how to close a deal and a lot of other amazing advice. But there are some steps that need to be taken before you even begin to analyze that property. I believe that this is where a lot of us new investors get stomped because know that we have an idea on how to invest, we go out looking at all of these properties but we really have no idea where to look. So I guess my question is what are some simple techniques that are being used to evaluate a potential market and submarket? what websites are you using? who are you calling? what kind of questions did you ask when you called? etc etc etc

Thank you in advance to all who reply. Your answers and help is truly appreciated 

@AJ Shepard You are absolutely right. Knowing your own market will help you know when the high is actually the high or if it will only continue to rise. Thank you

@Joshua Ferrari Wow that seems like a lot but I'm sure with the systems you have in place it is pretty seamless to do. Is there a website that you find this information? Where would I be able to find this information?

I definitely have plans on starting local but once I move back to California(which is extremely expensive) I would like to do some out of state investing. Thanks I really appreciate your advice.

Hello everyone,

Just curious as to how some of you evaluate the markets and submarkets you are thinking about getting into? thank you in advance for your help