All Forum Posts by: David Ramos

This is one question I had for the longest time. I guess the best route would be to hold the property(-ies) for the long run and redirect the profits on a larger project. Very valuable information here, thanks everyone.

Hi everybody,

@Steven Pierre have you considered going for it on a tax lien/deed sale? That might be a good option to approach the property in case somebody is defaulting on their taxes. Best of luck!

@Junior Salters

You hit the Jackpot from the very beginning. I'm impressed that although you were originally looking out there for a single property you ended up leveraging the additional properties. The way you explained it shows how much due diligence you did before actually getting the deal(s) tied up. Now, since you engaged in mailing marketing to your sellers, do you think that it would be best to send letters first or actually to drive by and knock on their door first? Best of regards!

Great job @Junior Salters !! I'm sure you are very excited on taking the first step to a successful REI business. I was wondering, if it is not much to ask, if you would like to share with us how did you do all the wholesaling process: from finding your prospect and marketing efforts up to closing the deal. Thanks and I wish you the utmost success in your business.

David

Tim W. I really never thought about that, but it does make sense. Humility is paramount for everybody as there is never a limited amount of RE knowledge in the world. I'll keep that in mind. Thanks!

Bill B. Just reading what you posted reminded me of how difficult it may be to break free from that comfort zone of being distrustful and skeptic of others but if we really think about it this is what this business really entails. REI is a very lucrative and profitable business but at the same time it's a life changing experience for both the investor as well as the sellers/buyers. Just like the typical customer walks into Walmart or the Apple Store with different likes and dislikes so are the people that we will all meet at some point. You may fail, yes at times when dealing with people but it's better to fail faster and get it done for good... then you will realize your people skills will improve as time goes by. Just keep your head up, remember that your experience may be temporary, but the lesson will be forever worth it. Best of success.

Elizabeth Colegrove:

Thanks for all the wealth of information that you have provided. I am also a service member and to be honest, the security clearance deal and having the connections to look up somebody's command or unit is the best collateral that you can get when dealing with military members. ONe thing that really impressed me was how you guys got a double whammy with the VA loan, which I originally though it could lend if and only if you live in such property. My doubts have been eliminated but I will surely research more about the VA to get my Flip strategy going. It also seems that you have a good system set up to manage all your properties, especially being out of state. In my particular case I am assigned to Dover AFB, DE and the market around Kent COunty is somewhat slow; I have also considered to broaden my target market more towards nearby Pennsylvania and MD areas. Fortunately for me, and same as you too, I do have some fellow service members assigned to those areas that could keep an eye to any possible investment properties. I've learned a lot on this thread. Also, I'm also intending to look up Texas and Arizona as Rebecca Chapa mentioned previously. They both seem to be two booming markets out there. I will, however, kindly ask everybody here if they have any further input regarding those two target markets. Best of luck to everybody!

Will do Kyle, I'll keep that in mind. Thanks!

Thanks for the replies everyone,

Just like Kyle Weimer said, wholesaling seems to be the basic foundation as to where everything starts, whether I'll choose to go into different niches or not thereafter. At the same time Braden C. the amount of profits earned in that niche may not be as great as other strategies but in my case right now, I'm more like a sponge trying to absorb as much information as possible to strike into that one first deal, avoiding "analysis paralysis" of course. All in all though I'm glad I joined BP to find answers to such critical questions in the business. Thanks everyone for your sharing your experience and input.

Hey everyone,

Lots of good information in this thread. I just wanted to ask @Ned Carey and Braden C. a question. I might be wrong but I happen to see wholesaling as a good starting point for all new investors and myself, with a solid knowledge base of course. I also think that any real estate niche could be a good starting point. Do you think that, on average, most new investors start in that particular niche mainly due to its level of difficulty or not? I might be putting the question in the wrong way but I'm sure we all would greatly appreciate your feedback on this. Thanks in advance!