All Forum Posts by: Jeff Wallenius

@Steeve Breton what returns was this fund advertising out of curiosity? 

@Dustin Rand if you guys can't agree on the first step, your off to a rocky start. I don't think there's a perfect option in the list you provided, and all three will require quite a bit of work. Have you guys looked into more passive investments where you can sit back and collect a check?

@Mike York with $20K you should be able to put 20-25% down any buy a rental conventionally. At that entry price your looking at $200-$400/month cash flow. 

@Neal Royal for me it's your ground team that will make or break your investment. Each market has their pros and cons, but find me the very best ground partner and you'll be able to make money in any market. On the flip side, if you have a bad partner it won't matter what the local economy or job growth is doing. Best of luck!

Finding a buy and hold with seller financing will be difficult as you are an large distance away. Seller financing if found is usually snatched up by local investors.

After seeing post after post of investors asking how exactly to get started in real estate I thought I'd give my $.02. 

Have you ever heard of a ride along? As I was preparing to pursue a career in the fire service I began visiting fire stations and asking to ride along for the day. This experience gives new firefighters the opportunity to learn the specifics of the job, run calls, interact with the crews, see the equipment, etc. This not only helps to educate the up and coming firefighter, it allows those in the department to begin to get to know the firefighter. When interview time comes around, those in the department know the individuals that came to ride along and put the time in and those that did not. The same holds true for real estate investors!

As a new investor I reached out to investors or business professionals in my area that had achieved a level of success or held knowledge that I wanted to obtain. I asked to ride along for the day, make coffee, sweep their floors, or do anything I could to spend time with them and begin the educational process. Now these ride alongs did not always unlock the secret door to success, but each time I learned something. On a quick side note, a secret door of success does not exist, it's called hard work and perseverance!  Back to the point, sometimes I learned how not to operate a business, which again is valuable information. This concept is not only for new investors looking to get started, but I still employ this strategy as I venture into new aspects of real estate or business. I always am seeking education, and for a hands on learner like myself, I need to dive into the subject at hand. 

Start by seeking out those investors or business leaders around you and ask to ride along, attend local real estate meetups, stop by local flips and ask to walk through, call contractors and ask to see their projects, etc. Remember to provide some value! Buy lunch, jump in and work if your with a contractor or work needs done, volunteer to do small tasks, etc. This is your business and treat it as so, no one is going to build your empire for you so go out and get started! 

Best of luck and enjoy the ride!

@Max McNally I've done flips in Eugene. Cashflow is difficult to come by as prices are very high. Let me know if your still looking, I do have quite a few references in the area.

@Micah Lundstedt first of all, nice job starting investing young and your in a great position! Cash flow in our area is difficult right now, but the market locally is starting to slow down. I grew up in Eugene and just sold a property down there two weeks ago. One of the great tax strategies is to sell and realize your equity after living in the home, and your in a great position with that in place. $300K in equity will allow you to scale your business and with a conservative 10% return on that money you'll be able to increase your monthly cashflow pretty significantly. If you leverage that money into more cashflow positive markets, your options expand as well. I am buying rentals in Indianapolis right now and reducing my local investment inventory.

@Jessey Kwong I think I could write 4 pages just to begin answering your question but there is many more dynamic factors in place. If your looking to invest on the West Coast you'll have a difficult time finding cash flow positive properties as prices are very high compared to market rents. The Midwest US is an excellent option for buy and hold investing with the ability to find cash flowing properties. The midwest will not see much appreciation as those markets tick along at 1-4% so know that your investing for cash flow only. The key to investing out of state is your team, or company that you work with. Like any industry there are very solid, morally sound companies that do the right things and take care of their clients and there and shady companies as well. I am speaking about turnkey companies that offer rental solutions, typically to out of state investors. Job growth, geographical economic indicators, population growth, etc are all indicators of strong or stable markets as well. I could go on and on, but really it also depends on your goals, risk tolerance, level of involvement, etc on your end to continue answering questions. I'm happy to discuss further if you like or need more information.