All Forum Posts by: Account Closed

Hey @Robert Hillier II , 

Congrats on making it to the level of being ready to invest! There are a few agents I can connect you within the Chicago area. 

Thanks for sharing @Amanda S., 

This sounds like a really tricky situation, there are many lawyers who would LOVE to take on something like this. If you win then you may let out of your lease and have your legal fees taken care of (depending on the state you live in). The best move is to compile all of your correspondence with your landlords and consult with a lawyer to see what options you have. Best of luck to you.

@David DiCairano I can make a few introductions if you'd like. 

@Micheal Kesha The biggest thing you can do is provide more value than the others, value meaning "how much less of a headache can this person give me if I go with them?". The easiest way to do this is to educate yourself about the needs of the market and present them as opportunities in a professional way. The best tip I can tell you is to find where the old people live, like a lot of old people, then find the homes that are just wrecked, count them and keep the addresses handy, you'll then want to find a piece a land or a lot nearby that can accommodate a 10-12 unit complex. The rest is on you to figure out, just remember that old people don't want to sell their homes if they can't afford to live anywhere that nicer than what they had.

@Account Closed The biggest issue that you may be having as anew wholesaler is that you're trying to compete in a market with a lot of other new wholesalers as well as the experienced ones. There is a lot of over-saturation in the area and it is making it seem like its much thought than it should be. The biggest thing you can do is provide more value than the others, value meaning "how much less of a headache can this person give me if I go with them?". The easiest way to do this is to educate yourself about the needs of the market and present them as opportunities in a professional way. The biggest tip I can tell you is to find where the old people live, like a lot of old people, then find the homes that are just wrecked, count them and keep the addresses handy, you'll then want to find a piece a land or a lot nearby that can accommodate a 10-12 unit complex. The rest is on you to figure out, just remember that old people don't want to sell their homes if they can't afford to live anywhere that nicer than what they had. 

Hello @Praveen K.,

Given the current situation, you're in a prime spot to start looking into deals, but the honest truth is that a lot people have missed the rush. That's not to say that there isn't any opportunity, but you'll need to do a bit more digging into how the deal can withstand a second shutdown or any other sort of economic disaster. The biggest thing to do now is to mitigate you risk while also achieving high enough clasflow yields that keep you in the green while also given your renters the ability to be flexible. I would suggest starting in a tertiary or military market, they offer lots of renters who want better housing and have a small crisis recovery window.

@Sean Goodson Thank you for your service, I am a vet myself. You may want to consider investing in a JV or Syndication, this will be an avenue that allows your build passive income while spreading your risk. You don't want a second mortgage if anything goes wrong and in real estate, those who are untrained can experience a lot of issues. You may even want to consider a HELOC (Home Equity Line Of Credit).

@Alec Davis Out of state investing can be tricky if you don't know the market. I have had the best experiences when I am able to set foot in the area and develop a plan that leads to the success and security of my investments. When your putting money into an area that you are unfamiliar with you need to know what the effect of that investment will be on the community. As for Topeka, it's a solid place to spend some money, but there is a lot of development that needs to happen in order to drive the rental prices to grow more steadily. If you want to talk more about our investments in that area, I am free to connect. 

@Dovi Schwartz I totally understand where you are coming from, but the reality is that you can get around the high cost by doing several different things. 

1. You may want to explore some JV or indication options, maybe even a REIT (real estate investment trust) it bypasses the high cost and allows you to mitigate the risk across multiple investors.

2. You can focus on developing an area that is in need by providing affordable housing, VASH Housing, and other forms of government housing. 

3. This may not be the one you are looking for, but investing out of state in an LLC can help you save a lot of money and maximize your returns in a low tax state. You may want to look into a few passive opportunities that allow you to build your income to take down bigger deals on your own.

Hope this offers some insight, should you want o converse further, please feel free to reach out.   

@Lola Og Thaks for sharing this info. You may want to look into a Home Equity Line of Credit, it allows you to tap into the equity at your own pace and forgo any closing cost. Many banks are doing this instead of the refinance while offering low rates to those who qualify. I hope this helps a bit.