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All Forum Posts by: Taylor Trepinski

Taylor Trepinski has started 2 posts and replied 9 times.

Post: Tips on building rapport when cold calling

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

Yes add value. If you have other sales in the area it's the single best way, because anyone who owns a similar property would likely be interested. If they're planning on selling when you call, asking them to sell, you are adding value... But some people don't know that until after you've built relationship. So, first thing is first, add value, offer similar sales, find out what their goals are, not necessarily always yours.

Post: New Member Here (Introduction)

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

Welcome Robert. 

I agree with your approach. Opportunities are available in every market, but for certain returns and CAPs you need to look outside your market area... Great that we have the ability to do so today.

Post: Looking for the right opportunity

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

Preston, I second Jonathan's answer. There is a beginner's guide if you haven't already heard that is great for investors starting out and helps you answer a lot of the questions Jonathan posed. 

I'm still learning myself, but intentional education targeted towards your next move has proved to be a major confidence booster when making decisions. I would recommend that guide, and consider FHA loans that can offer considerable advantages, especially if you're at all flexible with your living situation.

Another book recommended by a BP article was "What Every Real Estate Investor Needs to Know About Cash Flow" by Frank Gallinelli. I've found this book extremely informative in filling in questions about uncertainties regarding numbers, and if you base your numbers on the formats outlined in the book, you're much less likely to make a foolish investment.

Just my two cents... and hopefully it's worth more then that.

Post: That's One Small Step for Me, One Giant Leap...

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

Thank you all for the replies. I will be contemplating what will be the best way to move forward. It seems the consensus is find a way to make some money in a quick manner, save as much as possible, and then jump in. Which is definitely wise.

If anyone else wants to add, please feel free to offer input. All is very helpful!

Post: That's One Small Step for Me, One Giant Leap...

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

I've been interested in real estate investing ever since hearing Gary Keller speak, and reading his book "The Millionaire Real Estate Investor." Out of college, I worked for a non-profit for roughly 2 years. Since then, I've learned I wanted to invest in apartments.

Following that, I thought it might be good to make some money (which didn't happen at the non-profit), and went into commercial appraisal for roughly 6 months to learn how commercial properties were valued. During this time, I was being considered for an appraisal position at another company valuing apartments - it seemed ideal. Make some money from the job, learn a real estate skill - such seems to be a decent idea.

However, simultaneously, my family found out they were moving out of state for work, and given the timing, I saw an opportunity to cut my rent related expenses to 0, move in with them, and focus entirely on real estate investing.

I'm fortunate in that I have no pressing debt, and minimal expenses. I know many would call me silly for turning down a job learning to value apartments at a great company, but I've learned that while aspects of appraisal are interesting, its not somewhere I see myself thriving in the future.

This is where I would ask any seasoned investors advice. I understand 'some' basics of appraisal, giving me a shallow grasp on real estated related concepts and valuation, and I'm in a place where I won't have any pressing expenses to force me to make a good sized paycheck ASAP. I'm young, I want to build up equity and cash flow through apartment related investments.

What steps do you reccomend I take? And yes, I will pour over the newbie threads and advice related articles. Do you reccomend I go find some way to just pull in money? I will be starting with little cash on hand. How should I get plugged in in the new state to find like minded investors? How did you get started (assuming little cash on hand), how did you leverage debt in the beginning, and whats the biggest piece of advice you would give to someone in my situation wanting to build up?

All contributions are appreciated!

Post: RE Investing Jobs That Give Experience

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

Thanks Ned, this was really helpful. If anyone else has two cents, or three, or even one, please...Throw in your change (of knowledge).

Post: RE Investing Jobs That Give Experience

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

Still waiting for feedback.

Post: RE Investing Jobs That Give Experience

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

I've got under a year before I'm looking at devoting a large amount of time to real estate investing. While I've been in the learning stages of RE Investing, reading, researching, etc... I've realized it would be wise to work for someone for the benefit of earning some cash for a venture, while simultaneously gaining knowledge and experience from them/the business. What are some of the best jobs out there that might give someone a good feel and good experience before they venture into real estate investing? I was thinking some kind of financial analyst job, but I wanted to hear what thoughts are out there. Clearly nothing gives experience like doing that thing itself, but surely there's some good things to learn beforehand that can be learned from someone doing the business.

Also, if there's any MUST-DOs before jumping in in the next 7 months (apart from gaining as much knowledge, input, networking, and research)... Please feel free to recommend.

Thanks!

Post: Ethically investing in poorer urban areas

Taylor TrepinskiPosted
  • Real Estate Broker
  • New York
  • Posts 10
  • Votes 4

Gentrification is a very real reality when it comes to simply making a profit in a low-income area. Obviously, you can approach it with less of a profit mindset, and thereby retain some of the renters. However, when you come in and fix a place up, remodel, etc. you drive up prices to the renters, and seeing as their biggest struggle is being financially well-off, they will likely leave in pursuit of a place that maintains their current standard, because among other things, getting financially ahead is not on their priority list.

So, you can do much good here, but money can't be your main objective, unless you receive help from grants and so on. It very much so pushes people around to find areas that fit their income level. There are some deeply rooted problems that only a changed heart can fix, but much respect and admiration for the people who take on such a task without pushing others out.