All Forum Posts by: David Sanford

@Joshua Roat great work on taking action! Tell us how you're finding these properties and owners. Driving for dollars, paying for a list, etc. How much time did this take you? Although 5-7 letters a week is a great start - you could easily get that up to 5-7 a day with the right resources! Keep at it brother!

I've been investing in real estate for about 5 years now and have built up a decent portfolio with "okay" cashflow. I'm looking to ramp up my business but not sure where to start. So far, I've bought primarily from wholesalers but the deal flow has really slowed down causing me to want to create my own deals. I'm currently commited to spending $4k a month between hiring help and marketing for deals. Of that $4,000 - I'm spending $1,500 a month on radio ads, and $1,000 a month on direct mail. The remaining $1,500 is flexible and not dedicated on a specific expense.. The problem is, I feel like I'm going too wide too fast and not focused enough on the most important "next step". I'm struggling to determine what the "next step" is that will get me to my next goal of generating $500k of additional cash (to invest in a syndication). I'd like to hire help to follow the "ask who, not how" but I have no idea what I would hire them to do. I'm fine with upping my remaining $1,500 in order to hire a great attribute if necessary. Asking BP, what are your thoughts on how you would proceed?

Hey all. I'm trying to build up my rental portfolio to add a few more by the end of the year, Or just one 6-10 unit apartment complex. I currently have 13 houses and would like to reach 20 by the end of the year, hopefully more, I just have to raise some more capital... All of my houses are within a 25 minute drive of Richmond currently, but it seems like the deals are drying up lately. Can anyone give some tips or pointers on how they: a) found more deals or b) raised more capital to purchase these deals?

@Devin Martin I didnt go with them. I found a local hard money lender I decided to go with.

@Lydia T. Great ideas to implement. Thanks!

I have been struggling to find deals worthy of flipping and decided to hand write some letters and try my luck at direct mail. However, I have a full time job and am finding it difficult to view all of my leads to make offers. Most houses I check out end up being a waste of time since we cant come to an agreement on sales price. What are your suggestions on a solution to this? I dont have the spare time to keep wasting time on houses that wont happen, but I am eager to find a few more flips asap!

@Eric Veronica I had success with this. I purchased a foreclosed home for $92k and put down 20% which was $18k.. I then put new floors, new Appliances, and fresh paint all for about $6k total. The home then appraised for $145k 6 months later so I took out a 75% loan of @ $110k and paid myself back my $18k down, my $6k renovations, and pocketed an additional profit of $12k. The $12k plus the original $18k, plus my $6k for renovations gave me $36k to work with which gave me the 20% down on my next TWO rentals to BRRRR.

@Justin Aguaze I used Wix. Very simple layout, feel free to check it out. It took maybe 4 hours to create. 

@Rapheal Shepherd check out the bigger pockets calculators. They have one that sounds like it would fit what you need to run your numbers.

@Paul Carissimi can you bring on a partner? Or get a personal line of credit at your bank?