All Forum Posts by: Mark Updegraff

Hey BiggerPockets Community,

I’ve got 2 extra tickets for Hunter Thompson's RaiseFest happening at the Arizona Grand Resort & Spa — starting this Wednesday, February 19. More details at raisefest.com.

These are VIP tickets that I snagged at a super early bird price, so if you’re looking to attend a killer event for capital raisers at a huge discount, just LMK!

This is a premier event for anyone serious about capital raising, networking, and scaling their investing business.

I’m open to any reasonable offer — just want to make sure these tickets go to someone who can use them!

DM me if you’re interested.

Cheers,
Mark C. Updegraff

Hey BiggerPockets Community,

I’ve got 2 extra tickets for Hunter Thompson's RaiseFest happening at the Arizona Grand Resort & Spa — starting this Wednesday, February 19. More details at raisefest.com.

These are VIP tickets that I snagged at a super early bird price, so if you’re looking to attend a killer event for capital raisers at a huge discount, just LMK!

This is a premier event for anyone serious about capital raising, networking, and scaling their investing business.

I’m open to any reasonable offer — just want to make sure these tickets go to someone who can use them!

DM me if you’re interested. 

Cheers,
Mark C. Updegraff

Hey BiggerPockets Community,

I’ve got 2 extra tickets for Hunter Thompson's RaiseFest happening at the Arizona Grand Resort & Spa — starting this Wednesday, February 19.

These are VIP tickets that I snagged at a super early bird price, so if you’re looking to attend a killer event for capital raisers at a huge discount, just LMK!

This is a premier event for anyone serious about capital raising, networking, and scaling their investing business.

I’m open to any reasonable offer — just want to make sure these tickets go to someone who can use them!

DM me if you’re interested. 

Cheers,
Mark C. Updegraff

 Sent you a PM! 

Darnicia, I read just fine, and I've been in this business long enough to know exactly what you're running into. You're right—there are plenty of agents out there who don't want to work with investors, don't know how to, or simply aren't responsive. But that's not a new problem, and it's not unique to Central VA.

You’re also right that the new buyer’s agreement laws have changed the game. Agents now have to lock in an agreement just to show a house, and a lot of them won’t waste their time with someone who’s just “looking.” That’s the reality of today’s market, and whether we like it or not, agents aren’t in the business of being unpaid tour guides.

That said, I’ve worked with plenty of serious investors, and here’s the thing—the best agents will make time for qualified buyers who actually close deals. If you’re getting ghosted or only getting agents who demand six-month agreements upfront, there are two possibilities:

1. You’re talking to the wrong agents—ones who don’t understand or care about working with investors.

2. The agents who do work with investors don’t see enough commitment or action from you yet to prioritize you over their other clients.

If you were in my market, I’d tell you this—prove you’re worth their time. Show them a deal you’re ready to pull the trigger on. Give them a reason to prioritize you over the hundreds of tire-kickers they deal with daily. Because the truth is, investor-friendly agents are busy working with actual closers.

If you’ve had amazing agents in the past, great—what made them amazing? What did they do that others aren’t? And what did you do as a buyer to keep them engaged? Because if you really are a fully funded, serious buyer, the right agent will want to work with you. You just might have to adjust how you’re approaching them.

If you’re hiring a PM long-distance, you’ve gotta vet them hard upfront or you’ll regret it later. Few things to lock down:

• They need to be full service with a legit staff—techs on payroll, leasing agents, someone handling PR when tenants get weird. A one-person show isn’t gonna cut it.

• Make sure they’ve got general liability and workers’ comp. When you move forward, they should provide proof and name you additional insured. If they push back on that, walk.

• Get references. Call them. Owners and tenants. Meet with the PM and their staff, even if it’s virtual. You need to see how they run things.

• Find out who actually makes decisions—tenant approvals, renewals, evictions. Are they just rubber-stamping or do they have real criteria?

• Read the management agreement. Then compare it to a few others. Fees can be sneaky—markups on maintenance, random charges for inspections, lease renewals, etc.

• Check their rep everywhere—Google, Facebook, BBB. Years in business? Number of units? If they’ve been around forever but only manage 50 doors, that’s a sign they aren’t growing for a reason.

Good PMs are worth their weight in gold, but a bad one will wreck your investment. You looking at anyone specific yet, or still in the research phase?

Akku, solid move getting into real estate early. You’re definitely on the right track thinking through tenant demand upfront, especially with a lot of similar inventory sitting.

For marketing, Zillow is really it. The other platforms can sometimes help, but they’re not as reliable. If similar homes are sitting for 30-70 days, it’s probably a pricing issue. The right rate rents it—no need to overthink gimmicks or incentives.

Virtual staging is the way to go. It’s way cheaper than full staging and makes a big difference in listing photos. Empty rooms don’t sell well, and you want your listing to stand out. At minimum, stage the living room and primary bedroom to give it some warmth.

That said, have you thought about cutting bait and putting your money into a market where the numbers actually work? If places like yours are sitting at $2200 with no traction, you’re taking on unnecessary risk, especially as a first deal. New construction in a saturated market isn’t always the best play if you’re looking for steady returns.

A place like Rochester has way better fundamentals—lower buy-in, strong rent-to-price ratios, and stable demand from universities, hospitals, and major employers. You could get into a solid multi-unit or a single-family rental with real cash flow instead of hoping your Katy rental eventually fills.

Not saying you should walk just yet, but if leasing drags out longer than expected, would you consider selling and reinvesting somewhere with better returns? Have you run the numbers on what your exit could look like?

David, this deal could work, but I’d want to dig into a few things first. 80% occupancy with long-term tenants is solid, but what happens if a major tenant leaves? Are they at market rent, or locked into below-market rates? With 30% vacancy in the area, filling space could be a challenge.

NNN leases are great for minimizing expenses, but how much control do you actually have? Are there any caps on pass-through expenses? And with an HOA handling maintenance, have you checked their reserves? If they're underfunded, you could get hit with special assessments.

Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space? They tend to be more stable than retail right now. Mixed-use with some residential could also add diversification while keeping it simple.

What’s the tenant mix like, and how are you structuring financing? Happy to take a deeper look.

Welcome to the community! You’re in the right place, and it’s great to see your enthusiasm about getting started in real estate investing. I’ve been in this business a long time, and I know firsthand how overwhelming that first deal can feel—especially when it comes to financing. But the good news is, you don’t need to have all the answers right away. You just need the right plan and the right people in your corner.

A little background on me—I’m a real estate broker, investor, and developer out of Rochester, NY. I built my business from the ground up, and over the years, I’ve worked with first-time investors, seasoned pros, and everyone in between. I specialize in investment properties, high-end homes, and commercial real estate, and I run Updegraff Group Realty, a full-service brokerage that helps investors not only find and fund deals but also manage construction, optimize returns, and scale their portfolios.

Financing Your First Deal Without Using Your Own Money

It’s a common question, and the truth is—it’s very doable, but it requires strategy and relationships. Here’s a breakdown of the main ways investors fund their first deal while minimizing their own cash outlay:

1. Private Money & Hard Money Loans– These lenders focus more on the deal than on your personal finances. If you can show that the numbers work, you can get 100% of the purchase and rehab covered.The key is finding lenders who work with new investors.

2. Partnering with Experienced Investors– If you don’t have capital, you can offer your time, effort, and hustle in exchange for a piece of the deal. Many experienced investors are willing to partner if you find the right property and do the legwork.

3. Seller Financing & Creative Deals– Some sellers will carry the note, allowing you to buy with little or no money down. This works best when the seller is motivated and open to flexible terms.

4. BRRRR Strategy (Buy, Rehab, Rent, Refinance, Repeat)– If you find the right undervalued property, you can finance the rehab with short-term funding and then refinance into a long-term loan, pulling most or all of your money back out.

5. House Hacking– If you’re open to living in your investment, you can use an FHA loan (as low as 3.5% down)to buy a multi-unit, live in one unit, and rent out the others. This gets you in the game with minimal upfront costs.

Covering the Smaller Costs (Inspections, Appraisals, Earnest Money, etc.)

Even when using other people’s money, you’ll need some cash for earnest money deposits, inspections, and carrying costs. Here’s how to handle those:

• Negotiate inspection costs into your deal—in some cases, sellers will cover them.

• Work with lenders that roll fees into closing costs(some hard money lenders do this).

• Use business credit or 0% interest credit cards strategically—just be careful with repayment timelines.

Next Steps

The biggest thing you can do right now is surround yourself with experienced investors, agents, and lenders who have done what you’re trying to do. The fact that you’re here shows that you’re serious about learning and growing, and that’s half the battle.

If you’re looking for real, practical guidance, I’m happy to help. I know what it’s like to be in your position, and I believe in paying it forward. If you want to talk strategy, analyze deals, or just get some honest insight, feel free to reach out. Looking forward to seeing you take that first step and get your first deal done!

Sounds like you’re expecting an agent to do all the heavy lifting, and that’s not how this business works. A good investor-agent is worth their weight in gold because of market expertise, connections, and knowing how to get deals done, not because they’re your personal deal-finder.

The best deals don’t come from sitting back and waiting for an agent to serve them up to you. Investing is your responsibility. Your agent’s role is to support your strategy, provide insight on the market, and help you execute—but you need to be out there networking, analyzing, and sourcing opportunities yourself.

A solid investor-friendly agent will:

• Read between the lines on listings to spot motivation and negotiating angles.

• Understand market trends and what’s actually selling vs. what’s sitting.

• Have relationships with other pros—lenders, attorneys, wholesalers, contractors—so deals don’t fall apart.

But if you expect an agent to hunt down every deal for you while you just sit and wait, you’re going to keep being frustrated. The best investor-agent relationships are partnerships, not one-sided services.If you’re serious about scaling, get proactive—bring leads to your agent, analyze deals, and be ready to move when the right opportunity hits.

If agents in your area aren’t working out, it might be time to look at your approach instead of blaming them all for being lazy. The best investor-friendly agents are busy because they know what they’re doing. You need to prove that you’re a serious buyer, ready to act, and that working with you is worth their time.