All Forum Posts by: Teddy Smith

%100 this. Make sure the agent knows what ARV is. May want to contact a wholesaler because something that has been exposed to the open market will be difficult to make a good margin on.

For me it's just totally random. Prospecting calls, Chamber of Commerce events, or just random acquaintances. Once you have a track record and trust built up, they start finding you.

A duplex is a nice option if you could find one near the university for sale. Just make sure that he is ready to become a landlord along with school, partying, girls, etc. You may want to consider the classic "kiddo condo" near the university also. Many times a property can cash flow with just having a couple roommates in a cheap 3 bedroom. Will also lessen the burden of land-lording because he actually lives with the tenants.

Lending wise: They're going to check his credit score, employment, and cash reserves. If he's like anyone his age, he probably won't have any of those. You may consider just being the investor yourself and allow him to have some side money. I've never met an 18 year with the responsibility to handle all the aspects of investing.

What is the time? Will mark my outlook calender and stop by,

Before I was an agent, I was salaried. I actually continued to work my other job until I received enough income thru RE to meet my obligations.

I'm an agent now, so I don't know what category I fit. I would say that if I didn't have the income from my real-estate job, I would surely be working a 9-5!

Growth. Trying to get my business to a point where it is more sustainable and I can actually leave!

I've always looked at vacant land investing as somewhat of a "cheap" form of diversification. Almost like buying an ounce of gold for an investment portfolio. Like gold, you're essentially just hoping the price goes up on it and it's very speculative. Also, you can't leverage them or receive an income stream.

I'd pick up a nice lot at a tax deed sale but I wouldn't use vacant land as a means to build wealth. Unless you are developing, flipping, subdividing, or doing something very intensive it may keep pace with inflation and that's it.

Me: "Have you ever been convicted of a drug related offense?"

Prospective Tenant: "Yes, but I was asleep when the house got raided. The meth wasn't mine! It was my buddies!"

I like the e-mails about new content, but VERY sparingly (once a week at max). 

Overall, I would say only have emails for people trying to contact me. E-mail marketing (not BP in particular just in general) is so overdone at this point that I just scroll past content pushes out of habit.

First was off market from a neighbor. Second was off MLS. I'm a bit more seasoned now so third will hopefully be off market.