All Forum Posts by: Zachary Inman

This may be sacrilegious on this forum, but renting might be the better temporary option. You've been thrown into a tough spot, and renting for a year while building up some capital isn't a bad option. 

You're an agent, so keep your eyes on the MLS. However, if nothing comes up, no shame in taking some time in the corner before going back into the ring.

Those new taxes kill the deal. You could 1031 into another property, but the supply is low (as we all know). You could find a syndication that offers accelerated depreciation losses to cover some of taxes while the capital is still earning a good return. 

@David Paez 48k in yearly cash flow is great. I think the answer would depend on how much of a hassle the management is for you and what you would reinvest into during this market. You could 1031 into another property - but supply is tight. What you'd want to avoid is just sitting on dry powder getting eaten up by inflation. If you're accredited, you could always park it with another syndication to compound your returns passively.

When I was an agent, I would cold call all the time. It's such a valuable and underrated skill.

In terms of strategies and tips, here are a few:

1. Smile while speaking. It comes through.

2. Speak like you're chatting with a friend, not selling them a used car.

3. Ask questions early to gather info and add value to their precise pain points.

4. Disqualify early in the call. It's not always a fit.

5. Listen more than you talk.

6. When "pitching" your solution, loop the other person back in with simple questions. If they have a question in mind and you're on a diatribe, they don't hear a single word you say.

7. Always leave a voicemail.

8. Follow up kindly but persistently.

9. Have a targeted campaign rather than just calling randomly. Systems are better than raw volume. 

10. Condense your call time to a single block rather than spreading them out across the day. If you're "not in the mood," then make the first dial - you'll get into the mood ;)

@Mercedes Anthony

Get yourself as much transactional experience on investment deals as possible to be able to provide actual value to investors. Investors also covet off-market deals, so networking with other agents and sellers in the area to catch some properties before they pop up on the MLS is a huge plus.

I agree with Colton here. I think the safest move would be to convince a parter to go in the loan with you to help you to qualify. 

Depends on your goals, and the availability of quality rentals in the area - supply is tight right now. 

The primary point of using the banks money is to amplify your purchasing power. Doing so, and using the cash flow from the property to pay down the mortgage, allows your to build equity in the home which will increase your buying power over time. 

If you're able to do it, it will probably be worth it to divide so you can sell the houses separately for a larger profit. 

You could always tell him that having a lower purchase price will often get him a better offer than a higher purchase price because you can start a bidding war. Just because he throws out a price of what he thinks it's "worth," that's just poor pricing strategy and he'll end up getting less. And now people will see that this property has been put on the market twice with no offers and be less attractive.