All Forum Posts by: Jeff Wallenius

@Pete Ghormley you nailed it on the head. You don't need a guru to be successful in real estate, you need education. And if your driven to succeed you can and will find the content and information you need, free of charge. We work with new investors to educate them, but charge nothing, as too many people have been taken advantage of in the industry. Keep grinding!

@Dino Cardamone I sent you a PM and would be happy to assist in your search, as we provide a bit of a different service for investors.

@Eric Johnson I'm sure you already do these things but here's what I do to compete in a hot market (Portland). 1. Waive your inspection period. If I've walked a property (which I normally don't unless I have an accepted offer) I waive my inspection period in order to make my offer more appealing. 2. Shorten your close times. If your cash buyers then close in 5 days. 3. Invest in a market that is not as competitive but allows great opportunities to make money. We invest in fix and flips in several different markets so that we don't have to compete as fiercely for deals. I would be happy to share more on that if interested. 4. Stay persistent and keep grinding. Best of luck!

@Randy Broyles welcome to BP and thanks for your service!

Mark Cerminaro I agree with Greg S. It's more of a hassle then it's worth. The other negative being if they pick colors and materials that are more to their taste rather than "standard" and they back out, your stuck with a house that may be harder to market.

Meaghan Penilla do a quick google search for REIA's in you area. That stands for real estate investors association, and you should be able to find one relatively close to you. They are open to visit but many require a membership if you are looking to join.

Hi @Christine Mwai, when I started in real estate I jumped into fix and flip and learned many lessons (some the hard way). As I looked to expand my knowledge I began to seek investors that were in positions that I wanted to be, this led to being mentored by a local real estate investor. This alone opened up opportunities I would have never thought possible, and now I am looking to pay it forward. There's no greater feeling to give back, and to assist someone in achieving their financial goals. 

Great question to post!

@Meaghan Penilla buying a fixer and living in it is a fantastic way to start in real estate. If you live in the property for at least two years you can sell without being taxed on the profit. This could be a great way to build some equity and kickstart your investment journey. The key is buying right, and that takes time and education to find the right deals. I would recommend attending a local real estate meeting and networking with investors. Best of luck!

@Antonio Aguilar I would ask someone outright what their business is, and how they are compensated. There are many people trolling on BP for business, and their are many that truly want to assist and help investors and still may profit from it in the backend. Most people are on this site to learn and network, it's a great resource for doing just that.

First, great job on getting to where you are now. You've done better that 99% of investors by taking the risks and jumping in. To answer question 1. There are property management companies out there that will do a good job in managing your properties. Will they ever care as much as you do, no, but this is a business and to scale at some point you have to surround yourself with good team members. Interview potential managers like a job interview, seek advice from those around town and in these forums depending on your area. You'll be paying 8-10% but if your looking to grow and expand, this is the cost of doing business. 2. I don't know where your located but there are multifamily deals to be had across the country. Again, this will come down to aligning yourself with a trustworthy and proven team in order to be successful. We work in about 9 markets and the reason for our success is the strength of all our partners, and the common desire to "do the right thing". 

Again, great job building what you have, and the value play in multifamily will still be a fantastic play in this current market.