All Forum Posts by: Emran Chowdhury

@John Slegg

Starting with flipping in real estate might not be good idea in HCOL area where everything is expensive and you pay lot of taxes. It only makes sense if you don't have any money to invest and need cash to build your portfolio.

Yes, it would make sense if you find the right house at the right price and do everything correctly to make good money - but probabilistically what are the chances you will do everything right in your first deal and will make money. Most people lose money in their first 4 deals in house flipping, do you want to take that chance of losing your savings.

Look for long term rental or fixer upper or even BRRR deals at the beginning. But that's only my opinion though- you might prove me wrong and make a home run in your first deal!

Most of the contact info are public information. You can check the county records and then public information to verify those names, phone numbers & emails. But before calling someone make sure their number is not on do not call registry.

After saying all of that, as an owner of multiple rental properties - I don't like to be called, received text from unknown persons if I didn't provide explicit permission to be contacted. That's true for most of the owners. But if you can figure out who might appreciate you be contacted, you can certainly proceed with those scenarios.

@Tom Grieshammer 

Mine are long terms rentals. I haven't inquired about short term rentals before.

Welcome to real estate journey Michael. I don't have experience with RV park, I am sure you will get some replies from other BP members about RV.

We live in Knoxville area. If you decide to close to Knoxville, let me know. Would love to be connected through BP.

Welcome to BP Jason. It's exciting to start in real estate at your early stage of life.

I would love to be connected to fellow BP members. You might also like few of the blog posts I wrote on BP about getting started in real estate.

I am working with KW Greater Metropolitan management for the last 6 years. They are managing my long terms rentals there and their service is reasonable. You can give them a call.

I did not work with the seller directly when I started as an investor. But after that I got my license, started working with a seller's agent later, and already got a good grasp of the things I should and shouldn't talk about.

I created a questionnaire for buyer's agent and the property management company, which kept me on track with talking points. If you are just getting started, talking to your agent might help you if you can find an investor friendly realtor on your side.

Here is the list of questions you might ask to your realtors if you are looking for one:

1. How many years have they been working as an agent?
2. Do they have investment property in that area & how many?
3. Do they work with the investors a lot, can they share previous clients' info for intro?
4. Do you need to pay any commission to the agent/they will work with the sellers to receive commission?

Good luck!

Welcome to BP @Carl Conley :)

If you are already familiar with the construction side of things, real estate investment might seem easier for you :)

Start with the BP podcast sessions, I learned lot from those sessions when I got started. Keep in open mind, take care of your tenants and solve one problem at a time - those are the few tips I can give you as you are getting started. Happy to be connected with fellow BP members.

Good luck!

As soon as you ask someone to be dual agent, he/she can't be on your side only. That's the reason there was two sides of the transaction agents.

Dual agent can't disclose anything to you which will jeopardize the seller's position. It's not about money or commission , it's about fiduciary duty & keeping real estate agents license. There are very strict rules for Dual Agent.

I would suggest get a buyer's side agent if you have not done this kind of deal before.

My personal opinion it will not. I have been investing since 2016, got my license in 2020. But I never worked on scaling my real estate agent business up since it's take more time at the beginning. My license helped to take a look at the properties for myself, write offer in short amount of time & also pocketed the agent fee.

I spent 1 hour/week to manage my 21 SFH portfolio. I have set up all those things in that way over the span of 9 years. I earned money from my W2, but strategically invested my money in real estate. But at the same time, that's only my experience. People might have different experiences too!