All Forum Posts by: Allen Williams

@Shiloh Lundahl that is a great question! I would take the 1,000,000 all day because I believe I would be able to build greater wealth and cash flow with today’s dollars. Especially if we see a market correction at some point in the coming years!

@Teresa Johnson Hi Teresa! I am a landlord as well and I enjoy giving gifts to tenants. First off, I think it differentiates you and show you care. And second, I think it shows to them that you are a person and they are your customer and you appreciate their business. And lastly I believe that it leads them to take better care of the property because of the kindness you show them. Not everyone does this, and it has the potential to help decrease turnover. We all know tenant replacement can be the most expensive part of owning a rental. And I give the gift to them in person to connect. And who knows people know people, maybe they might know someone needing to sell a home soon and you will be first dibs. I hope this helps!

@Hayden Done Hi Hayden, first off I would say congrats on starting the journey of REI! I would also mention that when it comes down to looking at a strategy to deploy you are doing the right things with educating yourself first. The next thing I would do is link up with a good Realtor in your area and Property Manager to determine what the rental rates are in each neighborhood. Once you get that info and connect it to your price range you will see what will return the most given the amount you want to spend. The Realtor of course can help you find a property, and if you find a good Realtor potentially an off market opportunity which is ideal. There are great people on BP that you can find and vet to make sure you find great people to work with. I hope this helps! I would lastly say once you have all the info and can make an educated decision go for it!!

@James G.

As an agent I would say make sure to clarify communication and expectations. If the agent has a partner or someone else involved and they find a deal and you are entertaining other deals I see his side. But if you are seeking that next deal and have the cash or preapproval ready and are committed I totally understand and agree with your point. With my out of state investors and locally I let them know what to expect since I am an investor as well. But I will always give my customers the opportunity to act first, but I explain to them that I need a fast response so if they do not want it I can pursue it. I would encourage communication and if the agent gives you a bad response I would find a new one. Hope this helps!

@Russell Gronsky

I am sorry you are having this challenge first off with the home not selling right way. I would definitely consider taking off and relisting in 30 days. Anything incurable like off a busy street/highway/train station is always important to price in. Usually in my area properties tend to go for 10-15K less where they are off a busy road compared to tucked away in a neighborhood. At the end of the day it is all about what the market will bear that creates its intrinsic value.

@Dominique B. Congrats on this awesome first deal Dominique. I love the creative nature with the HELOC and recycle of capital. Usually you hear refinance more but you went at it from a slightly different angle there. Keep crushing it in 2021!

@Collin Schwartz This is a great story and I am very happy for you! I had a similar experience. I was in corporate for about 7 years and was completely miserable despite having a successful career in the eyes of someone who worked there. But one day I just asked myself what I was doing. I developed a gameplan and quit as soon as I could. Now I do it full time as a Realtor and Investor. For anyone looking to take the plunge remember you only live once, you deserve to be happy (if you had a situation like me), and it is not nearly as scary as other people say once you make the move. With proper planning/cash reserves and a focused mindset you can do anything!! Congrats again to you Collin, I love hearing these type of stories. Keep it up!!

@Vince Dent

This is such a great question and for me I think it all depends on your timeframe for holding the property. If you are looking at holding it 10+ years then I believe it makes sense to purchase as long as it cashflows/meets your personal goals. Indicators that may play into decision making includes supply/demand, population/income growth, rents increasing/decreasing, development in the community/amenties etc. And if it meets your paramters then locking in a low interest rate is the way to go. There is usually a correction every 13-18 years in the real estate market/business cycle depending on what time in history you look at. So prices tend to always rebound BUT you still have a great low interest rate NOW. Later on rates may go up and will be a better price to buy yes but cash flow will not be as nice most likely. That is my advice and hope it helps!

@Charles Large

Congrats on the purchase! That is so awesome to hear!!

@Metzli Alcalde

My pleasure. I look forward to helping where I can. If you want I can help give you ideas of how people I know/have helped complete this strategy. I hope you have a great day and I am sure will be in touch at some point!