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Mindy Jensen's profile image
Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
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BP Podcast 281: New Investor Episode - Getting Your First Deal

Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
Posted Jun 1 2018, 08:50

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.

Robert Uceda's profile image
  • from Denver, Colorado
  • Member since Mar 4, 2017

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Robert Uceda's profile image
  • from Denver, Colorado
  • Member since Mar 4, 2017
Robert Uceda
  • Denver, CO
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Robert Uceda
  • Denver, CO
Replied Jun 1 2018, 23:36

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?

Aric W.'s profile image
  • Rental Property Investor
  • from MD (maryland)
  • Member since Feb 22, 2015

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Aric W.'s profile image
  • Rental Property Investor
  • from MD (maryland)
  • Member since Feb 22, 2015
Aric W.
  • Rental Property Investor
  • MD (maryland)
23
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25
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Aric W.
  • Rental Property Investor
  • MD (maryland)
Replied Jun 2 2018, 08:47

Dez

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Michael Montesino's profile image
  • New to Real Estate
  • from Sunnyside, NY
  • Member since Mar 8, 2018

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Michael Montesino's profile image
  • New to Real Estate
  • from Sunnyside, NY
  • Member since Mar 8, 2018
Michael Montesino
  • New to Real Estate
  • Sunnyside, NY
12
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Michael Montesino
  • New to Real Estate
  • Sunnyside, NY
Replied Jun 3 2018, 06:37

@Robert Uceda the first thing that comes to my head is to really just get another agent that already thinks this way. Look for one here on BiggerPockets. 

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Bill Campbell
Pro Member
  • Rental Property Investor
  • from Bradenton, FL
  • Member since Nov 16, 2017

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Bill Campbell's profile image
Bill Campbell
Pro Member
  • Rental Property Investor
  • from Bradenton, FL
  • Member since Nov 16, 2017
Bill Campbell
Pro Member
  • Rental Property Investor
  • Bradenton, FL
15
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14
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Bill Campbell
Pro Member
  • Rental Property Investor
  • Bradenton, FL
Replied Jun 4 2018, 18:46

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.

Joseph M.'s profile image
  • Flipper/Rehabber
  • from Los Angeles, CA
  • Member since Jan 22, 2009

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Joseph M.'s profile image
  • Flipper/Rehabber
  • from Los Angeles, CA
  • Member since Jan 22, 2009
Joseph M.
  • Flipper/Rehabber
  • Los Angeles, CA
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Joseph M.
  • Flipper/Rehabber
  • Los Angeles, CA
Replied Jun 5 2018, 00:00

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 ?

Marcus Cannady's profile image
  • Investor
  • from Atlanta, GA
  • Member since Mar 4, 2017

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Marcus Cannady's profile image
  • Investor
  • from Atlanta, GA
  • Member since Mar 4, 2017
Marcus Cannady
  • Investor
  • Atlanta, GA
10
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23
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Marcus Cannady
  • Investor
  • Atlanta, GA
Replied Jun 5 2018, 13:13

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!

Jessica G.'s profile image
  • Investor
  • from Dallas, TX
  • Member since Mar 31, 2014

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Jessica G.'s profile image
  • Investor
  • from Dallas, TX
  • Member since Mar 31, 2014
Jessica G.
  • Investor
  • Dallas, TX
213
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Jessica G.
  • Investor
  • Dallas, TX
Replied Jun 5 2018, 13:30

@Marcus Cannady It was this one, he was the first speaker. Great podcast!

Jordan Moorhead's profile image
  • Real Estate Agent
  • from Austin, TX
  • Member since Jun 19, 2015

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Jordan Moorhead's profile image
  • Real Estate Agent
  • from Austin, TX
  • Member since Jun 19, 2015
Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
Replied Jun 5 2018, 16:27

What’s Bills name here on BP?

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Replied Jun 6 2018, 02:26

It's Jose please let me no how to join and pick good house to flip

Mindy Jensen's profile image

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Mindy Jensen's profile image
Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
9,980
Votes |
7,326
Posts
Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
Replied Jun 6 2018, 07:08

@Jordan Moorhead , I don't think Bill is on BP yet. His blog is http://wealthwelldone.com/

Anthony Gayden's profile image
Anthony Gayden
Pro Member
  • Rental Property Investor
  • from Omaha, NE
  • Member since Feb 17, 2014

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Anthony Gayden
Pro Member
  • Rental Property Investor
  • from Omaha, NE
  • Member since Feb 17, 2014
Anthony Gayden
Pro Member
  • Rental Property Investor
  • Omaha, NE
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Anthony Gayden
Pro Member
  • Rental Property Investor
  • Omaha, NE
Replied Jun 6 2018, 07:40

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

Carmen Rojas's profile image
  • from North Hollywood, California
  • Member since Apr 13, 2017

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Carmen Rojas's profile image
  • from North Hollywood, California
  • Member since Apr 13, 2017
Carmen Rojas
  • North Hollywood, CA
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Carmen Rojas
  • North Hollywood, CA
Replied Jun 6 2018, 18:57

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.

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Armin Trepic's profile image
  • from Overland Park, KS
  • Member since May 29, 2018

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Armin Trepic's profile image
  • from Overland Park, KS
  • Member since May 29, 2018
Armin Trepic
  • Overland Park, KS
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Armin Trepic
  • Overland Park, KS
Replied Jun 7 2018, 05:16

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!

Jordan Moorhead's profile image
  • Real Estate Agent
  • from Austin, TX
  • Member since Jun 19, 2015

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Jordan Moorhead's profile image
  • Real Estate Agent
  • from Austin, TX
  • Member since Jun 19, 2015
Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
3,310
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4,609
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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
Replied Jun 7 2018, 09:30

@Mindy Jensen get him on here! Sounds like a good guy.

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