All Forum Posts by: Wes Blackwell

Hey Brandon,

Do you want opinions on the deal? Opinions on the graphic design? Or both?

Let us know more precisely what you're looking for so we can better help you.

Free lunch.

Seriously though, I can't imagine anyone turning down a free lunch or a good value proposition. 

Find out who is the "person to know" operating in the property manger's business framework, and tell them you're a local agent who works with investors and are trying to source a good local property manager.

Chat them up about the rental market, the real estate, themselves, etc. Then toss the motivated sellers topic into the conversational salad like a couple of tasty croutons and see if they bite.

Simply google for property managers in Charlotte, and start cold calling/emailing property managers and take one out to lunch every week.

In a couple months time, you'll have spent less than $500 and met with 10+ property managers face to face who know you're an agent looking for motivated sellers. Best of luck :-)

Hey Larry,

Google is your friend. You'll have to shop around, as there are plenty of options online that come with all sort of different designs, colors etc. There is no straight answer for this question as there are too many different options available.

Ultimately though, the cheapest option would be to order blank signs in bulk of the cheapest color and then simply write "We Buy Houses" on it with your number in black marker. The options are endless.

See here... perhaps a Title company might even have the form for you:

https://www.biggerpockets.com/forums/93/topics/71894-need-title-company-in-texas-to-handle-assignment-contracts

Hey Jacob,

Pre-foreclosures can offer a discount, but when it comes down to it in California you need big money to play ball.

Doesn't mean it has to be your money, as there are private investors and hard money lenders that can help you out with that.

Also, it might help our ability to advise you if we knew what your strategy is. Buy and hold? Fix and flip? Go into a little more detail and we can help you out some more.

A client of mine is looking into purchasing a small multi-family property, approximately 8 units or less. They have experience managing rental property SFR's before, but this would be the first multifamily investment.

What will be the biggest determinant in her qualifying for the loan? The rents? Or her personal credit history and finances?

Also, a minimum down payment of 25% is required, correct? So if she has $200,000 to spend the max purchase price would be $800,000 right? Please advise. Thanks!

WOW! What a response! Great to see all you Sacramento area folks making things happen. I look forward to getting to know you all at the next meetup. :-)

The best thing about buying in more rural areas is that there will be less competition from other buyers, making it more likely to get your offer accepted over someone who is looking to pay full price.

On the other hand, that also means that there will be less renters too. If your property goes vacant, it might be awhile before you find another renter. 

Perhaps look and see if you can find some property management companies out in those areas and tell them you're looking to purchase some property in the area and are looking for someone to manage the property (even if you aren't).

This may help ease them into a conversation about the rental market, and give you more of an inside scoop. Hopefully some other investors can chime in. Best of luck!

@Rick Snow nailed it. My only addition would be to make sure you're conservative on your ARV, and can justify the value to the investors you're pitching deals to.

For if you fib a little and stretch to make the numbers work, you'll start to get a reputation as the wholesaler who has no deals and is simply full of hot air.

When you're just start out, people are going to be double-checking your numbers every time, so make sure those numbers are right so investors will feel comfortable working with you.

Hey @Ted Phelps, here's my 2 cents...

First and foremost, the main added benefit is that being a Realtor gives you more options when you meet motivated sellers.

Numbers don't work for buy and hold? Or seller isn't willing to go low enough to make the numbers work? Then sell it for them full price as an agent and make a commission instead!!!

Is you're a go-getter, hard worker, and good at sales, I'd suggest becoming an agent and trying to sell enough homes to leave the body shop and be an agent full time.

The income potential is much higher if you're good at it, and you'll be exposing yourself to all sorts of real estate experience and shorten the investing learning curve.

If you do it, I highly suggest you follow a proven system like Mike Ferry, Craig Proctor, Brian Buffini, etc. Don't try to re-invent the wheel, just put your own set of spinners on it.

As far as it taking a long time to sell your first house... hogwash. I've been an agent two months and have sold four homes and have 2 for sale. And all of them were cold leads. 

That being said, I have some prior investing experience, and lots of experience in sales, marketing, and running my own business, so I kind of already paid my dues the last 10 years.

But in the end, no matter whether you want to be a successful investor, a successful agent, or both, it's ultimately going to come down to hustle. If you've got that in spades, the rest will fall into place.

Best of luck my friend. Now got get em!