All Forum Posts by: Gabriel Amedee

Awesome! 

Hopeful for a good turnout.

@Scott Weaver @Andre Crabb @Jason Horsley @Ali Senchenique @Scott Scheel

Hey everyone! 

I believe the meetup @Marc Middleton was referring to is this one right here!

Don't forget to mention your attendance on the thread, it helps bump up the thread thus getting more exposure to more Soflo members. 

Hope to see you all there!

Hey @Soumya Brijesh !

By reading the title I thought I was going to walk into something MFH related. Not sure where the house hacking portion fits in here. 

"According to BP calculators i can make a profit of 28k"

Are you making this after rehabbing and selling property? How long are these properties sitting on the market? Every month you are losing $1500 on this property between HOA and taxes, did you factor this in?

I am also curious how you came up with 55k remodel? That seems like a large amount for a condo that only requires repairs within the unit. 

I would be sure to look into other units in the same building if one seller is not budging on their price. Typically each condo has a few units in the building sitting on the market. Hope this helps!

Hey @Jean H.

Yes that is correct. I honestly have not attended in some time so sorry to hear about the high vacancy in the last meetup. I'll be sure to be there June 26th and reach out to other investors to encourage their attendance!

Hey Jean, 

This is a great idea and really appreciate you taking the time to do this. Hope to see you at the next BP meetup in June!

@Ashley Mutawakkil you and Sool should totally check this out !

Hey @Jose Valledor

Welcome to BP! I hihly suggest you begin running numbers on a daily basis, whether the property is on market, off market, closed, pending, etc. Just get the practice in. The biggest barrier I see for most new investors is the inability to identify a good deal. Once you understand what your market typically offers it is easy to see the needle in the hay stack deal. Best of luck and happy investing!

The question is actually which do YOU prefer? There are endless threads that debate these two terms. At the end of the day it always comes down to the investors preference. Happy investing!

Originally posted by @Robert Yousef:

Originally posted by @Gabriel Amedee:

Hey Robert Yousef !

Is there any reason you are set on targeting listings? You may find it much easier to attract retail buyers and once you have transactions under your belt you can leverage them to showcase your expertise to prospects.

Aside from that, if you did an exceptional job representing your buyers they are more likely to refer you to other people which means more business. More business means more income which allows you to invest in seller targeted lead generation. Don’t forget that a lot of the referred business may very well be listings.

I’m not trying to deter you from focusing on listings, it is a great strategy. However just like Brie Schmidt stated most agents do not see a check for upwards of 6 months so if you are not prepared for that you may want to explore other strategies.

 Do you know any good ways to find buyers? I already know about open houses and I will begin to attend them. Im also in the process of having a website made that should generate leads through google ads and facebook. I know most agents don't make money right away but i'm simply not trying to be like most agents.

If you do not want to be like most agents then don't wait for the leads, information or opportunities in general to come and just fall on your lap. Go out and look for it. Just now I did the unthinkable and googled "how to find buyer leads." In just the one screenshot below there are 65 ways to generate leads. I don't mean to be hard on you but if you want to separate yourself from the bottom of the barrel agents, at the least you're going to have to work a little harder and use platforms like google and the biggerpockets.com search bar (which has answered this question 100+ times). 

Before I ask a question I ask myself if anyone could have ever asked it before. If the answer is yes, I google it. It's an instant result versus waiting 24+ hours for people to reply on a forum. If you take 10x the amount of time to complete the small simple things, imagine how long it will take you to complete something worthwhile, like closing a deal. Which is why most agents take forever to close their first deal. They just sit and wait to be fed information at all the classes the board offers. No different than waiting for biggerpockets members to answer the same questions they've been answering for years. 

Just my $0.02

Hey Christopher Daniels ! Welcome to BP. Can you elaborate why you feel this is a good deal? What are you paying monthly on the hard money? What about the monthly payment for the seller financing? What is estimated rent? What’s your monthly cash flow? Is there enough equity to refi and pay back HML? If not, can repairs increase value to where you could refi? Can you afford repairs? For a solid answer we need solid details. Thanks!

Hey Errol St Marthe ! If I am reading correctly it seems you want a very low entry deal for a very good price. In my market that typically isn’t found on the MLS because you are competing with both skilled investors and newbie investors who are not afraid to take on these very easy deals. If I were you I would consider either investing in marketing to find off market deals or find a niche in properties that no one else is focusing on. I have a buddy who only focuses on properties with liens/violations because they are rarely under contract within 48hrs like the easy deals on the market. Maybe consider a niche such as wood frame properties since the additions are much easier than CBS. Hope I could provide some insight. Happy investing!