All Forum Posts by: Brian Bandas

Gotcha. Well, one goal among those I have set as I move into real estate investment is to alway operate in an upright way. So perhaps I just let this one go, which is okay. Not every lead is a deal. I just want to continue to learn the various ways to structure or create a deal, and I want to learn to recognize them. At this point, I don't always trust that there isn't one there just because I can't see it.

Thanks guys.

Shaun, I think you've got it right--he's hoping for an offer from me that's closer to retail. I also don't think that it's a great rental investment either, mediocre at best. I think my best bet here is to try and pass him to an agent friend for a referral fee.

Ian, that's exactly why I think this isn't the right opportunity--70% is 100k below retail and he's not motivated enough to go that low.

I just know that I'm having a bit of a block on getting my first property under contract--fear is always a factor on the first--and I'm trying to make sure said fear does not keep me from doing business when I should be. It's a strange balance between "don't be too afraid to make a move," and "don't make a move just to make a move." It's a balance I'm still learning.

Hi there!

I have a wholesaling question. One lead that has come to me is a gent who bought a condo specifically to sell it. I get the sense that I could get it at a discount, but it is not a property in need of work. Certainly not a fix-and-flip scenario. It is a nice property in a good area--a solid turn-key rental. Hypothetically, let's say it's worth $335k (an identical unit sold next door last month, so I do know right about what it's worth at retail) and I think I can make a cash offer at $275 and he'd take it. As a wholesaler--I can't afford that property even if it's a pretty good rental and a below market price--can I turn this into a deal? If so, how? I suppose I could always put a contract on it and try to turn a retail sale, right? Although I haven't been working on any retail-type marketing, I've been working on a buyers list populated with investors, not people seeking retail property. So, can I make this a deal?

If the answer is no, that's okay. So far, as I delve into this particular niche, the biggest learning curve for me is the art of recognizing potential deals. I know that as I get calls coming in, my mind is scrambling to try and recognize if I'm barking up the wrong tree, or worse, if I may be passing on what could be a good deal! I just don't know yet!

Thanks for your input BP community!

@Joe Fairless Thanks a ton for the encouraging words! I'm at the start of my journey so that goes a long way! I will definitely look into syndication. It's not something I'm familiar with yet. I'm always excited to learn yet another aspect of this business. And very glad to hear the affirmation that the hard work is worth it.

@Ali Boone heck yes! Nashville is amazing! I've never made it over to 16 Ton. Who owns it? I've played at a lot of studios here, there's a good chance I've run into them. It's such a small town, as I'm sure you know!

Thanks so much for the warm welcomes, everyone! This has already proven to be an invaluable community to me and it's only been a few days! Can't wait to share my successes with like-minded people!

As a new-ish investor, I'm wanting to turn this into a career, into monthly cashflow that covers my monthly nut and allows me to put money back into my business. I keep hearing about wholesaling and I like the principal of it. I think there is a bit of a get-rich-quick stigma about it, however, and I don't want any part of that. (I'm fine with getting rich, of course, but not into schemes, haha!)

What I would love is some guidance when it comes to this:

How can an aspiring investor with limited capital (lets say roughly $15k) best use his time and money to grow his business?

Wholesaling appeals to me for two reasons: first, if you're going to do it right, it forces you to educate yourself, and fast. Additionally, the startup capital is limited to whatever you choose to spend on marketing, so almost any one can try, if they decide. Then, I suppose, it's up to work ethic and execution.

I also like the idea of negotiating seller-financed deals on rental properties with lower down payments.

Any thoughts on how I can work most effectively?

I don't want to wait years between each acquisition because the banks don't like self-employed income, not do I want to wait to put together a 20% down payment. Any help on how to most effectively and rapidly experience growth is appreciated! Thanks!

Hi, folks!

I am Brian Bandas. I've been playing music professionally for about a decade, but I have my second son on his way in February, and have found that my taste for the road is waning. I want to be home with my family, and I want to provide for them while also spending time with them.

I first got into real estate when I purchased an amazing rental property about 3 years ago that has been an incredible blessing (if only every deal were like that one). I have become more and more invigorated by the various aspects of RE investing and would love to learn enough to turn it into my full-time job. As of now, I generate passive income from that one property, and am on the cusp of grabbing up one or two more. We'll see how that goes : )

I'm definitely in the market for creative financing, either seller financing or some sort of partnership. I have down payment money, but I'm self employed and the banks don't like me at this point.

I'd love to meet folks who are willing to offer insight to a relative newbie!

I will say this for myself--I LOVE to work hard, and believe passionately and firmly that you reap what you sow. Hard work and will power can truly take you a long way.

Good to meet you all and I look forward to consuming large amounts of insight and knowledge here on Bigger Pockets. Heck, maybe at some point I may even have a little of my own to offer!

I've been wondering about this myself, Marcus. What have you found out?

I'm curious what some rudimentary formulas are to determine estimates on repairs, vacancy, etc.

I'd love it if you let me know if anyone has shared anything with you!

As a new member of BP, and as a fairly new investor (aside from one single rental property I've had for a few years), what area of BP is most effective for networking and finding partners for these types of deals? What is the most appropriate way to approach someone or find someone who you think you may be able to do business with? Thanks!