All Forum Posts by: Eliott Elias

Pros: live for free and pay your house off 

Cons: your tenant is your neighbor, and you aren't collecting rent from the unit you occupy 

Your investment strategy should align with your lifestyle and investing goals. Buying a turnkey property and playing the appreciation game is a hands off approach but works for many investors who work full time. You may not be getting the most out of your property in terms of cash flow but your time will be saved. I personally like to have equity in the property. 

FSBO listings are most commonly found on Facebook and just driving around looking for a FSBO sign in the front yard. There is also a tab on Zillow that lists any FSBO properties listed by the owner.

In my experience, wholesalers severely underestimate what the rehab costs look like. Most have not done any rehabs themselves. No matter what your estimate looks like the investor is going to base his/her investment off their own numbers 

Your property is not worth what you paid for it, if I bought a 400k home for 300k it does not change it's value to 300k. Your homes value is dictated by what recent homes in your area have been selling for, an agent can give you a CMA and properly indicate what it's worth.

1. Becoming an agent. Add value with your knowledge and build wealth for others in the process 

2. Find GOOD deals and pitch them to private money investors, build a relationship with them and they may fund the whole project. OMP!!!

3. Finding money is easy, finding contractors is easy, finding good deals isn't. 

What are your goals in real estate? Sounds like you want passive income while you are out on duty. One way to do this is to leverage your cash and buy as many rentals as you can, depending on if you own your home outright or not maybe take out a HELOC and invest into the next rental. There are companies that sell turnkey investment properties all over the country so you don't have to put any leg work into it, use a property manager as well to manage these.

I believe your personal investing enhances your agent business and vise versa. Investor clients love to see that their agent is knowledgeable and invest themselves. Whether you are looking a deals for clients or yourself you are essentially becoming an expert in your market and will be able to identify every deal available. 

Don't fall victim to the shiny object syndrome. Depends how hands on you want to be, flipping is a full time gig until you really stream line the process. You will deal with many terrible contractors and speed bumps that will most likely take up all your time and you are left living deal to deal to create steady income. It's a great way to make money, just not a lifestyle everyone is willing to take on. I believe with a marketing background short term rentals will pay dividends 

Many will say go off-market. But that is just as competitive, they are filtered through investors rather than end buyers. This is risky and don't recommend this, but buyers are waiving option completely.