All Forum Posts by: Steve Seger

@Eric Formiller It really depends on your goals and investment strategy. If you're aiming for long-term growth and are interested in potentially fixing and flipping properties, a fixer-upper could be a great option. Keep in mind, though, it will require significantly more time and effort but offers the potential for higher rewards through forced appreciation.

If you aren't wanting to be as hands on with your real estate and want to approach it more as a side hustle while you focus on your career, the turn key option may be better. As Justin mentioned, the advantage of immediate cash flow is why turnkey properties typically come with a premium price tag.

Try to get a sense of why you are investing in real estate and what the goal of getting into it may be then decide what option is best for you.

@Jonathan Greene Hey Jonathan! Hope all is well. My colleague, Jered Sturm, was recently on your podcast and is heading out to BP Con. I know he'd love to catch up with you. Shoot me a message if interested and I can share his cell so you two can connect. 

@Austin Carr I've found a lot of great free resources on YouTube helping with this. One page I highly recommend is Break Into CRE (https://www.youtube.com/@BreakIntoCRE). The host, Justin Kivel, breaks down the terms and underwriting in a way that is easy to digest and in bite size videos. I've found it helpful reinforcing certain things I've struggled to grasp. 

Also, Lone Star Capital has a model that you can download for free (https://www.lscre.com/resource/underwriting-model). It may be a bit complex at first glance, but with reps and time it will make more sense. I hope these are helpful!

@Maria Rina Boidon - It's difficult for me to say, as I have limited experience with out-of-state investing. However, finding a mentor or a partner with experience could be a great first step to help guide you through your first deal and identify the right market for you. 

@Maria Rina Boidon -  Your options can vary based on your current financial position and investment goals. If you are newer to investing and would be willing to live in the same building as your residents, I think considering a house hack could be a good place to start and learn. You could purchase a multifamily property, live in one unit, and rent out the others. This can help you cover your mortgage while you build equity and gain more experience managing multiple tenants and building out better systems and processes if you do decide you want to pursue larger properties. 

I'm currently exploring software options to support our Acquisitions Department and would appreciate some recommendations. I've already demoed Real Estate Lab and am in the process of evaluating Dealpath. Dealpath seems like it could be a great fit if we scale as projected over the next 3 years, but I want to make sure we're choosing the best tool for our needs.

Ideally, we're looking for software that allows us to integrate our existing Excel models and helps with deal organization and KPI tracking. Specifically, I'd like to track our deal funnel (e.g., the number of deals underwritten each month and their current stage) and measure key conversion rates (deals underwritten → LOIs submitted → accepted offers → closed deals).

It would also be a huge plus if the software could assist with creating OM resources and help streamline rent comp analysis.

Has anyone had experience with similar platforms or found one that really fits these goals?

@Brady Herbaugh I’m in a similar situation, currently saving for my first house hack, and I agree with the comments above. House hacking is a fantastic strategy, especially for beginners. It’s often described as the “training wheels” of real estate investing, as it allows you to get into the game with minimal risk. Sounds like it would be a great fit for you. 

I'd also recommend checking out The House Hacking Strategy by Craig Curelop. It’s an excellent guide for people starting out with House Hacking. Best of luck! Feel free to reach out if you ever want to discuss more.

Can't wait!