All Forum Posts by: Steve Richardson

@Stephen Spearman I’m on board with the virtual tour comments above. Not only are they a great approach for dealing with Covid19, but they also are a great tool to have in your tool kit. Two major benefits: 1- people who may skip looking at your property otherwise, can quickly “walk” through it and may find something that really catches their eye. 2- people who either don’t show up OR decide they don’t like the layout can see the property without occupying your time.

Oh, and as tenants submit their move out notices you can post the same virtual tour that very day to begin generating interest.

I’m sure there are many other great benefits to be considered as well.

A complete Matterport setup will run you around 5k. It should eventually pay for itself though. You can also hire someone local to capture the scan, but that can get expensive and they will charge you to repeatedly host the virtual tour.

You can also purchase a 360 camera for $300-$400 and use it with the Matterport software. The photo quality isn’t as good, but it is good enough that people can see the layout (example here: https://my.matterport.com/show/?m=HF9Bs4ogcyp&mls=1 )

There are also some 360 programs that allow you to download the tours and own them free & clear (Matterport requires a subscription).

If you have any more questions about virtual tours feel free to DM me.

@Jim Piekos have you tried using Cozy or a similar product? Automation will help keep you from feeling like your time is being wasted.

If you feel like you’ve been burned frequently, then your screening process likely needs an adjustment.

 I have a large family and only 1 relative that I would even consider being involved with on a business level. Some of my relatives ask me questions on occasion, but there hasn't been any action steps taken as of yet. 

@Steve K. I’m glad I read your comment before I started typing my “essay.” What you wrote is almost verbatim to what I was going to type :)

@Jeff Byrne generally speaking, no. If they have went this many years without understanding REI it's unlikely that you are going to say something that changes their opinion. However, as you grow, learn, and show the benefits of REI some of them will begin to understand... and of course some will continue to talk about how everything will come crashing down one day.

Do t be discouraged by then though. I would highly suggest finding a local circle of like-minded people to interact with on a regular basis. These meetings will help you keep focused as your building up momentum

Something you should consider if you are looking for a Real Estate Mentor...

Most Great Real Estate mentors are investors. They haven’t got to where they are by just giving everything away. That being said, you are far more likely to find a mentor who is willing to INVEST her/his time in you as opposed to GIVING her/his time to you.

So, what’s the difference?....

If someone allocates time towards teaching you about REI and you end up not being dedicated and never pursue it any further, the time they spent on you has just become time that was GIVEN away! Which usually means they just wasted "X" amount of time on you.

On the other hand, if you can demonstrate dedication, commitment and a serious pursuit of your goals, the time a mentor spends with you becomes an INVESTMENT in your future. Again, there are tons of great mentors who are excited to invest in you and your future.

Finding a great mentor isn’t difficult and doesn’t require spending a ton of money. Mentors are always near, paying attention, and watching your actions. If you are having trouble finding a mentor maybe it’s time you take a lot at your actions and see how they align with your life goals. 🤔

Agree? Disagree? Anything you would add?

thank you. It will be a cash purchase though

Vacant land in Indiana - worth purchasing without quiet title or should I go ahead and go through the filing process? (I do plan to keep the property for more than 4 years at which point I’m not sure it would matter anymore)

made a similar mistake earlier this year with one or the other. It was a small spot so I didn't address it immediately. When I got around to it a little bit later it had eaten a whole through a vinyl plank :/

@Jeff Ronningen thanks so much for the detailed reply. It helps me to think about a lot of things I haven’t yet considered.