All Forum Posts by: Ujwal Velagapudi

It does really depend on your business and what you are looking to do, and how you are looking to grow. However, the first tasks for relinquishing some assignments almost always start with administrative tasks from what I have seen, followed by research & data entry work. Those few items will allow you to do so much more with growing your business. Even email management assistance, email marketing campaigns, etc. can be a big help. Whatever it is, make sure it will be a time saver for you, provide value add to your operations & growth, and ultimately have a positive ROI on your time and money.

No, definitely not too late. I've had lenders not come through, thrice, in the same deal within 45 days. Stuff happens, so you should always be prepared with an alternative option. 

I haven't seen anything going for $30k in Dallas. Maybe $50-60k condos, in a subdivision with violence, legal disputes, and a whole lot of other issues.

I'd be curious to see if there are any, and if you find some, please do share! Even $75k and below. 

You need one if you're not comfortable doing it all yourself. However if you've gone through deals before, I'm sure you can handle it! In fact, the more you buy without them, you can lose them in the process (and their fees!) later on.

Like others have suggested, get a Title company, hold earnest dep. with them. Get a lawyer to draft a Purchase Agreement - before sending Earnest Deposit. BP even has a lot of contracts for each state that you can use. 

You could invest as an LP into a fund that does lending, one that knows the industry, has the skillset, etc. Or you can partner with one doing it, learn, and invest your own capital doing it. Or find some family/friends/local investors that are experienced, you have some personal relation with, that you can help finance. 

If you look into various wholesale deal finding methods on BP and other places, you can apply the same tactics to purchase one for yourself. Driving for dollars, cold outreach, going to wholesalers for "off market" deals, & tax/foreclosures are a great one as well.

In an expensive area, if you're living there, you need a place to live. So house hacking is an option as well to start off. 

I do have assistants - best use of my time & ROI. Takes a second to get them to understand what you want, your style, your criteria, etc., but once you're there, it's amazing. I like researching, but it's not the best use of my time, especially at scale.

For different aspects I use different tools, but a simple spreadsheet will do, or another CRM tool to integrate if you have large email campaigns. 

You're right about there being so many services, all offering dirt cheap assistants for poor service. It certainly can be a hit and miss like that. 

I look for how long they've been doing VA work, must be US based, professionalism, education, background, etc. But more importantly actually trying them out for a few tasks, then small projects, and then scaling as needed. Most are vetted well given my strict criteria, but then there are also some that don't pass after giving them a few assignments. Ones you stick around have truly proven themselves.

If interest rates rise (even though they said they'll remain untouched till 2022), it could start to lower asset values. 

I'm not sure what a bubble is anymore, I thought a "bubble" & crash/hard correction was imminent since 2017. I've still made a few investments (non-RE) since then, and continuing to do so, but just with a very weary look and a more stringent underwriting process for the specific deal. 

@Joel Owens Very good point on the risk profile given how they expand, will have to keep a note of that as each entity is different. 

That's what I suspected, that they have their own brokers & reps, so it seems that will just have to be done through their corporate channel for each company. 

Thank you, appreciate the feedback!