Making My First Investment Property Offers Today!

Making My First Investment Property Offers Today!

Realtor · Hickory, NC · Member since 2020 · 64 posts · 28 votes

Yes!!!! It's been a long time coming! But not really... I've been working really hard to get everything off the ground with my new endeavor and Real Estate investing business.

After nearly 2 years of self education in REI, I have now established my business, defined my business plan and business strategies, and am now about to start making offers on a few properties. I'm pumped up... last night, I was leaving Lowe's Hardware after getting a few bolts to hang a TV. I was getting in the car and saw a man leaving Lowe's with a for sale by owner sign. My instincts kicked in. I went to the guy, introduced myself, asked what he was selling... and turned out to be a 3 bed 2 bath house nearly $50k under market. Talk about a lucky first lead!

I started out educating myself by reading nearly every book I could find on real estate. Along with the other self development and business books, I completed 63 in one year. I learned about all I could with REI and how I could get started, and that's where I learned as much as I could about wholesaling, contract assignments, BRRR method, buy and holds, and so forth. And now, some year and a few months later, I have now established my entity/LLC as ClearVision Property Investors. I outsourced as much as I could because I am a full time General Manager which is very time consuming. I was able to have a designer design my logo, shout out to Fiverrr, and business cards. My marketing kit is nearly complete with all credibility packets almost done for sellers, buyers and investors, bandit signs, website design and Facebook business pages are almost done. Carrot might have me sold on their services. I've spent hundreds of dollars out of pocket now meeting with attorneys, looking over contracts, discussing the business, and so forth. Got some great agents I'm working with so far, and always looking for more professionals to network with, including lending professionals, investors, contractors, etc. I've got landscape and general contractors on my team, painters....

I think we are ready! I’m very excited to finally have the skills, education and courage to start on this endeavor and I can not wait to see the fruit that will bear.

How was your first contract experience? How did it turn out? How did you track down your first leads? I’d love to hear about some of your experiences!

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Investor · Atlanta, GA · Member since 2020 · 9 posts · 2 votes
5y

Congratulations, Jeremy! You really got blessed meeting the guy at Lowe's. I am still in the self-education phase. My niche is multifamily and wholesaling. Like yourself I started my LLC, logo through Fiverr (you're right, they're AWESOME)!

I believe in hands-on experience, so I am currently looking for my first multifamily for house hacking while learning more on wholesaling; which will in turn purchase my buy & hold & BRRR properties.

Hey, why not make money while learning? LOL

Again, CONGRAT! 

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  • Newport Beach, CA · Member since 2018 · 13 posts · 6 votes
    5y

    Sounds awesome, man and good luck!

    I am still in the self-education phase. 

    Care to list your best book recommendations?

  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    5y

    @Jeremy Toney What happened with the "3 bed 2 bath house nearly $50k under market" property lead? 

    I wouldn't give that person 24hrs before reaching out to them (friendly phone call, text message). If it goes on market you can kiss that deal good bye.

  • Realtor · Hickory, NC · Member since 2020 · 64 posts · 28 votes
    5y

    @Jaron Walling

    Lol! Like I said, I’m making 2 offers today. About to go meet the owner now.

  • Realtor · Hickory, NC · Member since 2020 · 64 posts · 28 votes
    5y

    @Matt Santillanes

    I’ll post my recommendations ASAP

  • Investor · Atlanta, GA · Member since 2020 · 9 posts · 2 votes
    5y

    Congratulations, Jeremy! You really got blessed meeting the guy at Lowe's. I am still in the self-education phase. My niche is multifamily and wholesaling. Like yourself I started my LLC, logo through Fiverr (you're right, they're AWESOME)!

    I believe in hands-on experience, so I am currently looking for my first multifamily for house hacking while learning more on wholesaling; which will in turn purchase my buy & hold & BRRR properties.

    Hey, why not make money while learning? LOL

    Again, CONGRAT! 

  • Realtor · Hickory, NC · Member since 2020 · 64 posts · 28 votes
    5y

    @Jaron Walling

    Offer was accepted at 64k below market. Meeting to sign agreements tonight!

  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    5y

    @Jeremy Toney Congrats! That's a real deal. 

  • Rental Property Investor · Charlotte NC · Member since 2019 · 8 posts · 4 votes
    5y

    Congrats!! That's an awesome first deal and hope everything goes great for you!

  • Winston-Salem, NC · Member since 2018 · 29 posts · 25 votes
    5y

    wow congrats!  Talk about some karma coming your way!

  • Investor · Long Beach, CA · Member since 2019 · 42 posts · 63 votes
    5y

    @jeremytoney that is great news i'm very happy for you! I'm sort of on the same tract - reading, charting, mapping, planning, learning all i CAN and as FAST as i can. i hope that first lead works out for you. As a note, i tried to go to your website and its not coming up for me - not sure if its b/c its not secure or what but the link isn't working. anyone else having this issue?  this site... not working? the clear vision one...

    Cheers -- Wendy 

  • Rental Property Investor · Charlotte, NC · Member since 2017 · 271 posts · 259 votes
    5y

    Congrats on jumping in! I did all of the same things as you. Read books, listened to tons of podcasts, watched too much youtube, and looked at a lot of deals.

    My best advice is to not get stuck in analysis-paralysis and try to get to your first deal. Analyze as many deals as possible and make no-brainer offers on as many properties as you can, even if they seem extremely low to you. The more you do it, the less you'll be afraid.

    As a point of reference, I bought 20 properties in the last 12 months and am UC on another 8. Before buying anything, I analyzed 200-300 deals. I think that is a good thing and you should probably do the same. Having said that, a lot of investors get stuck at this point and can spend years going to REIAs and conferences. You're looking for the perfect deal and you aren't quite sure what that looks like.

    I found what looked like an amazing opportunity and brought an experienced investor along to look at it. He immediately loved it and wanted to do it together. If I hadn't have brought him into the deal, I would have found 9 reasons why the deal might not work and I would probably still be analyzing properties. Out of all the deals I've done, that first deal is okay but has been the worst performer in my portfolio BUT it was the most important deal I could do because it got me in. 

  • Realtor · Hickory, NC · Member since 2020 · 64 posts · 28 votes
    5y

    @Jim Kittridge

    Love it man! Thanks so much!

  • Property Manager · CT · Member since 2014 · 687 posts · 329 votes
    5y

    Hi @Jeremy Toney Congratulations, we are rooting for your many successes!

    Great learning about the ins and outs of investing and managing property. It's amazing to get up close to the action of closing and making deals.

    I love that real estate is so multi faceted. The economics, financial, social and mechanical and legal make it fascinating to me.

    Good luck on your deal and let me know if there's any way I can help!


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