BP Podcast 281: New Investor Episode - Getting Your First Deal

15 Replies

Your first deal might just be your most important — because it leads to all the rest. That’s why it’s so imperative to study others who have just recently purchased their first deal! So today we’re excited to bring you a mashup episode, in which we sit down with three different investors to hear how they bought their first few investment properties. You’ll hear how Bill went from ex-con to house hacker, how Jacob used some highly creative methods to find his first deals, and how David is building an empire from across the ocean. Don’t miss a moment of this powerful episode!

Listen here or on your favorite podcast app.

One of the discouraging barriers is that talking to my RE agent who remains skeptical about me shoring up my buyer's list by asking him to on his MLS portal - round up a list of sold's list of cash buyers. He asking why investors (many of who are buyers themselves) would even want to find a 'middle man' (wholesaler like me) to help them find distressed homes out there, when they can search those themselves? I tried to tell him that maybe these investors do not have the luxury of time to find these distressed homes all the time. and that finding TLC, fixer upper, investor homes are challenging on MLS portal with the range of repairs varying. Any other ways I can explain it to my RE agent? He is definitely a bright successful guy and I'm trying to get him to see the light bulb of shoring my buyer's list. Thoughts? Suggestions?

Don't attempt to teach what a person doesn't want to know. If he is successful in what he is doing let him continue to walk his road. The great thing about RE is we don't have to choose the same strategies to be successful. Find another agent who will walk the road you're on or will help you on your journey. Best wishes.

@Robert Uceda is your strategy to wholesale MLS listed properties ? Or are you also doing marketing to buy off market properties ?
Most seem to be getting their deals off market in these hot markets with low inventory .

Have you considered getting licensed yourself ?

Sorry, I'm a bit off topic, but couldn't figure this out elsewhere. 

I recently listened to a BP podcast where the gentleman in it shared his story about how he bounced back from a 10 year stint in prison. I found his story to be very inspiring, and wanted to recommend it to a friend, however I can't figure out which one of the recent episodes it was. 

Does anyone happen to recall with episode it was? Greatly appreciate any help. Cheers!

I love the podcasts with the newer/smaller investors. It is always great hearing about the different ways people get started.

Question I work with cash investors I’m a real estate agent and I find properties that I reach out to the owners and ask them if they would like to selll
but my question would be how can I even come up with a number to offer so that they can at least be interested because when I asked you f interested in selling immediately they say no not interested in selling
so I feel shut down right away
But I wanna try again a month later but I want to say I have a cash buyer and were willing to offer you this much
But how do I even come up with a number to offer
do I come up with these numbers myself or do I tell the investor and he calculates the numbers that he would be willing to pay
Thank you.

Thanks Bill, Jacob and David!

Would you guys please make a podcast episode where you interview an investor who has had multiple people come to him with deals and maybe go over why he chose a specific person/deal?

Thanks for your time!

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