Flipper/Rehabber · Mentor, OH · Member since 2011 · 121 posts · 51 votes
I am new to investing however I do have a passion and skills in real estate. I have bought and manage three homes but I am trying to get into the market bigger and need help in these areas:
Capital (funding)
Marketing Ideas
What is a good deal?
Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
15y
All good questions. What is your investment strategy? Sounds like you maybe buying properties to hold.
1) There are a number of funding sources
Conventional - banks, credit unions
SBA - 7a & 504 programs
HUD/FHA programs
Private lenders
Hard Money lenders
Seller financing
Lease options
other creative financing
Some of these work better with different investment strategies
2) Marketing - again it is dependent on your strategy.
Not sure exactly what your looking for here are looking to find tenants, looking for buyers, looking for potential deal sources
3) What is a good deal?
Your strategy will also dictate this as well. Not only the type of investor you are, but what your short term and long range goals are.
For many today cash flow is one of the primary factors. Appreciation is an important consideration but has taken a back seat in this economy. There are non-numeric considerations though as well. Zoning, highest and best use, flood zone, environmental issues, code violations, demographics, employment in the area, crime, etc.
Many investors will set a minimum ROI or look at a minimum cash on cash return. You can expect different returns in different areas.
You have to define some of this on your own. You will find many though here that can give you an idea of what is possible though.
Real Estate Investor · Sunnyvale, CA · Member since 2010 · 79 posts · 53 votes
15y
Hi John.
capital - more is better
Marketing ideas - more is better
What is a good deal - one that makes you money
8^)
There's huge amounts of great information here on BP so many of your questions have probably already been discussed. Browse as much as you can for as long as you can. You'll learn an incredible amount of info.
All the folks here are happy to provide solid, free (!) advice...but the more specific your questions the quicker and easier they will get answered.
Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
15y
All good questions. What is your investment strategy? Sounds like you maybe buying properties to hold.
1) There are a number of funding sources
Conventional - banks, credit unions
SBA - 7a & 504 programs
HUD/FHA programs
Private lenders
Hard Money lenders
Seller financing
Lease options
other creative financing
Some of these work better with different investment strategies
2) Marketing - again it is dependent on your strategy.
Not sure exactly what your looking for here are looking to find tenants, looking for buyers, looking for potential deal sources
3) What is a good deal?
Your strategy will also dictate this as well. Not only the type of investor you are, but what your short term and long range goals are.
For many today cash flow is one of the primary factors. Appreciation is an important consideration but has taken a back seat in this economy. There are non-numeric considerations though as well. Zoning, highest and best use, flood zone, environmental issues, code violations, demographics, employment in the area, crime, etc.
Many investors will set a minimum ROI or look at a minimum cash on cash return. You can expect different returns in different areas.
You have to define some of this on your own. You will find many though here that can give you an idea of what is possible though.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
15y
Hi John,
A good deal will depend on your goals and what your future plans are. Each person will have a different view on what a good deal may be. And, most importantly - it's always best to learn your market in order to be able to spot opportunities. Hope that helps!
Real Estate Investor · Salt Lake City, UT · Member since 2010 · 47 posts · 6 votes
15y
Marketing Ideas - John, networking has been the best source of marketing yourself and reaching your targeted market. Social networks like BP, facebook, Twitter could be a great help. Start with small efforts and lead towards bigger one like developing a personal website and marketing yourself through it.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
15y
Good points Charles. Alice, I'm not disagreeing with you, but seems to me I could spend days or weeks on the internet in social RE sites and never find an investor in Springfiled, Branson, Ozrk, Nixa, Willard or Buffalo Missouri to seel any property.
As great and informing as the new age might be, most buyers will want to see a house before they buy it and the only properties I have sold to an out-of-stater was one who moved here.
So I would use some old methods of networking locally, face to face, local ads and through local organizations, it still works and always will. However, Craigs list at yoiur local level is a good way too.
Real Estate Investor · Salt Lake City, UT · Member since 2010 · 47 posts · 6 votes
15y
Old methods are good but lengthy and time consuming and if he wants to look for investing in the entire state of Ohio, then face to face meetings will become almost impossible for him. I guess building relationship via these mediums and with the help of technology (like Skype), he can have these face to face meetings as well, which will make it cost effective.