All Forum Posts by: Adrienne Bryson

That is what I was thinking...but as I am completely new to this I wasn't sure if there were some "hidden" benefits to buying multi first.  Of course there's cash flow, but I don't need high income, it is more about just getting in and learning as I go.

Thanks guys!

@Don Konipol I appreciate the clarification.  But I am less confused about the definition than about the attitudes carried by many towards wholesalers.

I just think it silly to make such a fuss (not that you are making a fuss, I'm referring to those that do) over the difference between calling oneself "real estate investor" or "investor in real estate related business".  I do understand the distinction, but do not understand the superiority complex carried by many.  The whole "how dare you call yourself an investor?!" thing just seems like an overreaction.

@John Walker that totally makes sense.  Thanks!

I want to get into buy & hold with SFRs and small multis.  Which (in your personal opinion/experience) is better for a first rental property?  Does it matter?

I will not be house hacking, and I do intend to manage it myself.

I feel at this point I should mention that I do not use coercion to get my contract signed, nor do I actually walk into the house with it literally "in hand".  I have an accordion folder that has various documents and after talking with the seller and making a verbal offer, if they decide they want to move forward I just pull out a contract.  I prefer to be prepared and I like presenting myself as someone that comes ready to do business.

@Rob Sasser where is that meeting and what time?

@Allen Felker I know wholesalers, or more accurately "assignors", play in that legal gray area if there is no intention at all to close.  Those that tie up the property with $10 or nothing at all for a month then "weasel" out when they can't find a buyer are the ones that leave a bad taste in everyone's mouth.

But at least half of the time the complaint is not legality or morality, but the "how dare you call yourself an investor with no skin in the game" platitude.  In every discussion I've read/participated in there's at least one person that comes in referring to themselves as a "real" investor and turning their nose up at the knuckle-dragging wholesalers.

Like I said I'm not trying to argue.  I'm trying to understand.  I was told (in this conversation) that just "incurring expenses" isn't investing.  Basically it doesn't matter if I put in hundreds of dollars of my own personal money or months of my own time into learning, marketing, legal counsel, etc... unless I put money on the house itself I'm not a "real investor".  Yet again, nothing is said about those flippers that don't put any money on the house, don't put any money towards repairs, don't put any time or manual labor into improving the property, use wholesalers so don't put any time or money or effort into marketing, then sell for major profits...  The only distinction I can see is that the flippers have the title in their name for a short time.  If that is it, it seems extreme to go from "he's a clever investor that deserves admiration" to "he's scum".

I have no interest in arguing, but i an legitimately curious...

What about those that depend solely on OPM to flip? Those people that get loans at 100% LTV and don't use ANY of their own money to fund their flips, just share their profits on the back end. They "buy" houses and technically own the titles, but don't actually have any skin in the game.

I mean, there are books and podcasts and webinars on the subject regularly.

I have never seen or heard anyone scoff at them and call them scum, or claim they aren't "real actual investors". Why not? What's the difference?

@Brian Stefanelli I take a contract. I want to put the seller under contract then and there.

I use the phone call to figure out how motivated the seller is and the general condition of the house, and what their asking price is if they have one in mind.

But the main thing I want to do in that initial call is set an appointment to meet the seller. Preferably as soon as possible.

When I met with the seller that's when negotiation takes place and an offer is made.

Have paperwork in hand when you go of course