All Forum Posts by: Abbey Humphreys
Abbey Humphreys has started 9 posts and replied 299 times.
Quote from @Bob S.:
Quote from @Abbey Humphreys:
I agree with @Taylor L., the time for finding good people is always now. You can build stronger relationship if you take the time to really grow roots in the market that you're looking to invest in. Scrambling to locate your team while you're simultaneously going through the oftentimes stressful process of closing a deal is not ideal.
I would suggest going to meetups and making connections and then going from there.
So let me ask, ( JUST ASKING so everyone learns) what exactly is he going to do? Lets say he contacts me. My 1st question is, do you have cash and or pre-approved. This person has neither. Ok so what value can I bring to him when they are not anywhere near ready? Scrambling, he has two years, :) I would simply say, ok, show me a bank statement, and or preapproval, then what ROI are you seeking? Ok great, when you're ready in two years!! Contact me. Nobody is going to spend time with anyone that has no intention of pulling the trigger for two years, I would not. So as mentioned from all of us, get too local RE meetings and be a sponge. but as far as having someone sit and spend time , well.......
All the best
Building connections within your network is not a purely transactional experience, in my opinion. There is value in simply asking questions and getting to know those that are in the same realm of interest/expertise.
An REI meetup in which you interact with and build relationships with local realtors, contractors, lenders, and other investors, is a great place to start for any newbie. This concept of immediately asking for something without anything firm to give in return is obviously not the right way forward. However, having an real, personal, and established relationship with individuals that you can eventually form a symbiotic partnership with when the time comes, has immense value.
All the best.
This is a great place to start: https://sfbai.com/
I agree with @Taylor L., the time for finding good people is always now. You can build stronger relationship if you take the time to really grow roots in the market that you're looking to invest in. Scrambling to locate your team while you're simultaneously going through the oftentimes stressful process of closing a deal is not ideal.
I would suggest going to meetups and making connections and then going from there.
Hey Alyson- this is a great place to start.
As far as books, I love the BRRRR book by David Greene, particularly if you're looking to do fix and flips. He recommends building a "Core-4" team of professionals to assist you in finding, financing, and closing deals, and it sounds like you're already headed in that direction.
Also, the local Milwaukee Real Estate Investors' Association should be a great place for you to get started: https://www.meetup.com/milwaukee-mastermind/
Post: I Can’t Find a Deal! This Isn’t Working!” Yep… That’s Why It’s a DEAL
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This is great advice- definitely important to put in the work and know your stuff!
Hey Coban- here is a great article on terms to know particularly when it comes to working with lenders: https://www.biggerpockets.com/blog/dscr-loans-terms-to-know
When it comes time for you to purchase your first property, knowing these terms will help you to secure financing with more ease and efficiency.
Quote from @Ryan Muska:
Check out The BRRR book by David Greene
I'd love to provide any insight and help if you ever need!
Echoing this- the BRRRR book is truly so helpful when it comes to intimately understanding the whole process start to finish.
Post: SF Rental in High Point, NC
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Looks like you made great decisions throughout this process. A good contractor is difficult to find. Nice work!
Post: Successful Investing Experience
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Impressive negotiation. Sounds like you came out on top!
Post: Fixed up and house-hacked a 4-plex and sold after 4 years
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Wow- great returns. Good job!