All Forum Posts by: Alex Gunnerson

Hi @Derek Nemec,

This isn't going to work for every property, but I would recommend seller financing if you can convince the owner to do it. I would point you to BiggerPockets episode #554. The guest does an excellent job of explaining the process he uses to convince owners to consider seller financing.

Closing fast, waiving the inspection (not for everybody, proceed with caution if you go this route) or offering to make up the difference in cash of an appraisal that falls short of the sale price are few options. 

@Austin Gunnerson

@Laura Marks I love this. Refreshing to hear people approaching real estate with new ideas. The Price Chopper idea is great, keep crushing it.

It took me over a year to find my first property. Many people I knew who were in the same boat said “I’m just going to wait until the market cools down” and are sitting on the sidelines still. Cannot stress how important patience and consistency is. 

Hi Jason, in general, people tend to assume that negative cashflow = bad, but that isn't always the case. Obviously we want all of our properties to cashflow, but if you have reason to believe that the property is going to significantly appreciate in value it may be worth it. With that being said, -$700 cashflow would be a little more than I would be comfortable with personally, but everyone's situation is different. The other thing I would add is that from what I have seen, duplexes usually don't appreciate as quickly as single family homes.

It sounds like you are asking the right questions, good luck on whatever you decide.

I'm an investor in the Kansas City area, interested in refining my approach on the phone, I would love to hear what other investors have done to be successful on the phone..

 When you are "smiling and dialing":

1. What metrics are you tracking monitor your success ? 

2. How are you tracking those metrics? A spreadsheet? Something more automated?

3. How many calls are you making a day/week?

4. Any other tips & tricks?

Thanks in advance to anyone willing to respond to this during #MarchMadness

Hi Andrew, this is going to depend on your goals with real estate. STRs have become very popular lately. Finding long term rentals that will cash-flow has become significantly more challenging with home prices continuing to increase. With that being said, STRs are much more active investments than long term rentals and require much more attention so make sure you have the time to commit to keeping up with your STR if you go that route.

I would also recommend investing in properties that have multiple paths towards success. STRs are crushing it right now, but 5 years from now that might not be the case, so you want to make that property could at least stay above water as a long term rental, or you could sell it and not be out a lot of $$$. It sounds like you are asking the right questions right now, good luck on your pursuit towards your first property!

Hi Joshua, I'm not an expert, but in my experience, this is largely going to depend on your goals with real estate. Some people prefer to pay off the loan faster, build equity in their home more quickly, and having less debt may help them sleep at night. Other people will use the full 30 year period to pay off their mortgage because they prefer having more cash readily available to pursue their next deal. Personally, I prefer using the full 30 year period as I always want to be ready when the next deal comes around.

I hope this was helpful, good luck !

Hi Thomas, I love Atomic Habits if you haven't already read that, implementing "habit stacking" has really helped me stay consistent with my routines in an almost effortless fashion. I also would highly recommend this podcast episode from the Knowledge Project https://open.spotify.com/episo...

Nir Eyal, the author of Indestractable is the guest on the show and he is just brilliant. He was actually a guest on BP episode #419, but I think he does a better job of communicating his wisdom in the link I shared above.

One last tip that has been great for me, I have been using 'TickTick' a lot, its a to do list on steroids, but it has helped me organize all of my thoughts and more importantly, get them on the calendar. I hope this was helpful, good luck!