All Forum Posts by: Mohammed Rahman

Hey @Max Alford - like most comments here, it depends on the situation. If you're a young agent, most clients will likely not care. But if you're pulling up with a work truck to the listing appointment of a mansion... impressions matter. 

Don't sweat these things early on, I've rarely had anyone look at my car let alone know where I've parked when I've shown up for appointments. Does it matter sometimes? Sure, does it matter all the time? No. 

Hey @Walter Pineda - depends on what you're wanting. 

If you're going to flip, maybe not the best deal. If you're buying & holding it could be a good deal depending on the rental amount and your mortgage. 

Point is, figure out what your investment goals are and use those numbers to qualify your deals. I've found it difficult to crowdsource advice on BP since everyone looks at a deal through their own investment lens. 

A good deal for one, is a bad deal for another, and so on. 

Hey @Evan Ghang - if you have a fixed rate long term mortgage, and you property is already rented out, you'll be able to ride out any crash (even if your property value drop puts you under water for a short while). 

When markets crash, people rent, when people rent, you have lower vacancies. 

Good luck! 

Hey @Guillermo Vladimir Robles - ditto to what @Jeff Copeland said but I think you deserve a pat on the back for at least putting in the work to find a deal. 

Remember that the MLS is basically an advertising funnel that all agents use to let all other agents know about their listings. If a property has been sitting on such a public-facing platform for too long, and looks like it's a great deal... there's something afoot.

Now you could spend time trying to figure out what's wrong with it, or you can simply move on. 

In terms of showing proof of funds, I don't necessarily think you have to partner up with someone with finances. There are a handful of coaches/websites out there that will give you a funds letter in exchange for a cut of your wholesaling fee. A property selling for $425k w/ a $700k ARV sounds like a good deal if you hadn't mentioned it was on the MLS already.

Maybe call the agent and ask why it hasn't sold yet?

Hey @Skylar Jennings - good luck on your first deal, as well as the move! 

You'll come to learn that a lot of building out a 'team' comes after a transaction is closed - because that's when you run into the most random things you never could have prepared for. 

As an investor & realtor, my best recommendation would be to find an investor friendly agent that can give you a lay of the land. Your agent will be able to tap into their sphere and make introductions to everyone & anyone you need, cutting the amount of time you need to search by more than half. 

This is a great way to post/start as I know a lot of investor friendly agents frequent BP. 

Hey @Sarah Lev - there are a lot of companies out there that can help you invest your money, it's a matter of you deciding how to put it into work. If you want to take the more direct route, you can do all the homework on a particular area and hone down what kind of property you want to purchase, rent it out, manage it, etc. 

Alternatively, you can also go with companies such as Rent to Retirement that make a lot of the up front work easier for you since they primarily work in new builds/renovations. 

For an even more passive approach, you can simply invest in real estate funds that will invest in projects for you - this is the easiest way to start getting involved and only requires you to transfer money into an account and decide which projects to invest in. I've used Fundrise in the past and can't complain. 

Hey @Drew K. - going off of what @Nathan Gesner mentioned, it's hard to give advice to someone that doesn't have a stronger general direction. HOWEVER, anyone that's made it in life has been in the exact same situation as you. 

What worked well for me was reading as much as I could to get over the unknown unknowns. Once you read more, you'll have a clearer sense of what you might like to do, and dislike in the realm of real estate. 

There are a lot of different directions to be pulled in, so it's easy to be overwhelmed and stay in step 0. 

You're probably making decent money for the first time in your life, and now wondering what to do with your money - this is a good place to be, but remember there's enough people out there that will happily help you part with your money if you don't know what you're doing. 

Hey @James Carter you need to reach out to lenders right away if you're planning on making an offer. Most commercial brokers/landlords will need to see that you have the means to close. There are a lot of options available to you in terms of financing since it seems the property has decent cashflow and you're a strong borrower. 

LendSimpli is an online commercial lender that I know of the top of my head. 

Hey @Zoey Buttino - nothing worth having is easy to do - it seems like you may have started recently with a lot of motivation and hit a few roadblocks. The point you feel like giving up is also the point a lot of others give up. 

I recommend finding a process that works for you (for me, it was calendar blocks) and then chugging away. A good start are the books BP offers through Amazon or on the site. 

A lot of the questions you have and will have are already answered in the books :) 

Hey @Douglas Mathenia - all the answers to your future questions already exist in real estate books. I recommend starting out with BP's books available on Amazon.