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All Forum Posts by: Sterling White

Sterling White has started 34 posts and replied 526 times.

Post: New member from Dyer, In

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153
Originally posted by @Luke Jansma:

I'm 26 years old and work in construction and have for years. I have skills and experience in A lot of construction and remodeling. Just recently bought a duplex in dyer Indiana and will be living in one side and renting out the other. Excited to get started in my first rental property and hopefully many more to come. On here looking for advice and networking to expand my real estate investing. 

Congrats Luke! Love the house hacking idea. Welcome to the site and I wish you the best of luck in your venture!

Post: Hello from the Bay Area California

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153
Originally posted by @Pierce Duncan:

Hello, my name is Pierce Duncan and I am an aspiring wholesaler living in the Bay Area.  I have yet to complete my first deal, but I am committed to providing that value soon.  If you live in the Bay lets talk!  Thank you, Pierce.

Welcome to the platform Pierce. I would recommend attending local real estate meetups in your area and get yourself out there.

I wish you the best of luck in your venture

Post: Are tenants really willing to pay online?

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153
Originally posted by @Rachel Shepherd:

Good afternoon! How many of you collect rents online and do tenants like it or seem bothered by having to set it up etc? I feel weird with tenants knowing our home address to mail checks. We are buying two new investments but our only investment right now is a SFH that prefers to do direct deposit. I would like to use Cozy or some other online place to collect rent. Thoughts? Thanks

I use propertyware and through their online portal tenants pay their rent. For some its super convenient and others(less tech savvy) I have the option where they can go to the bank and deposit the rent. 

Setting the online payment on their end is actually really easy for those that go that route.

Hope that helps

Post: Studying

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153
Originally posted by @Joseph Henry:

I'm 20, just got hired making 11 dollars an hour and a state college in my city (Barnesville, Ga). I really want to buy a rental property but I don't know how to go about it, what are some books you would suggest I read, maybe instructional podcasts/dvd's  (I'm about 3 episodes into the bigger pockets podcast) and what are some advice you have for rental properties in a small town? (Population of Barnesville is about 6,500)

Thanks!

There are a variety of ways you can go about it. I would start with finding someone in your market who is very reputable and work with them or for them. You can find this person at a local real estate meetup or networking with others in the industry. 

I acquired my first deal using none of my own money, but I found the deal and instead of taking a fee I went for equity. 

Hope that helps. 

Post: How do I vet a Syndication Investment Company?

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153
Originally posted by @Ricardo Meza:

I attended a webinar last night in the fundamentals for investing in multi-family, where I learned a bit more about syndication.  I'm comfortable with the idea of being an investor this way, and I understand I'd be less in control than if I chose a different route.  

However, the presenter of the seminar works for a company I never heard of, and I can't find any reviews online or much discussion on syndication companies through BP. 

So how would I go about vetting such a company, before I sit down with them?  What are some questions you'd want to ask a syndication investment company? 

I don't know if it's kosher to post websites, so if you want to know what I'm talking about, please send me a PM.  

Thanks for reading. 

You could start off by asking how many deals they have done. Or how long they have been in business? 

If you are digging and not finding much information then that sounds like a concern. 

Hope that helps and I wish you the best of luck Ricardo 

Post: How to get started

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153

As stated above @Dorian Reddenpartnering with a reputable wholesaler in your market will be a great start. Offer to help them and in turn you will learn the business. You can find this partner by attending local real estate meetups and networking with other investors. 

I wish you the best of luck in your venture

Post: Do I need to make my 1st investment in my area?

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153
Originally posted by @Derik S.:

The reason I ask is because I was listening to one of the podcasts here, and one of the guests said though he was from Southern California, his first investment was in Texas. So, though Denver is hot right now, would it hurt to look in Tucson, Dallas, San Antonio, and of the like (whatever other cities are steaming right now). If there's one more way to put the question, should I stay landlocked in Colorado? I would hope not, because that would only be limiting my potential. I think I should go where the deals go. 

Secondly, this is separate from the original question, but do I really need a business plan? I listened to the podcast with Grant Cardone, and he said something that seems to make sense. "Use a business plan if you want comfort," and "Most of what happens will not be in your business plan." I'm pretty apt to taking that advice from someone who has a $350 million dollar RE empire. I'm gonna be taking notes on this.

I would recommend for your first investment try and stay as close to home as you can. Then once you gain experience start venturing into other markets. Unless you have trusted boots on the ground in those outside markets. 

It's great you are listening to Grant. He is a do-er. A business plan is good to have for guidance, but it is highly likely that it will change. Just have to take action

Post: 2% Rule

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153

As people have stated @Terry Madden in most markets the 2% rule doesn't apply especially in your current market its difficult. Depending on what your investment goals are you may not need to shoot for the 2% rule. 

What attracted you to purchasing assets meeting this rule? 

Post: Section 8

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153

There are a variety of posts on this site on that very topic. Pros are higher rents usually, guaranteed rent(the governments half) and often times tenant stays longer.

The cons are some of the prospects maybe of "lesser quality" and more inclined to not take care of the property. However it varies on market and the main thing is making sure you screen well. 

Here's is a post on the matter https://www.biggerpockets.com/renewsblog/2013/09/2...

Hope that helps

Post: New Member from Upstate NY

Sterling White
Pro Member
Posted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 554
  • Votes 153

Welcome to the site @Roland Salmi. Looks like your are off to a great start by coming across this site. I would recommend attending local meetups to network with other like minded investors.

Hope that helps.