All Forum Posts by: Garrett Crosby

I heard a really good quote the other day. “Time isn’t money, time is time.And time most valuable thing we have.” I completely understand being frustrated when my time is taken advantage of. This is why I’m a huge fan of property managers. I would rather have my time back even if it costs a little more money. Let me focus my time on making more money and not chancing it on being wasted by inconsiderate people. :) 

Depends on the realtor. I can tell you for certain that I do everything I can to help my clients get the financing they need to be successful here in CA. It's a team effort. Unfortunately, lack of experience is usually the most notable piece that stops realtors from helping more. Some simply don't have the relationships or expertise to work with investors to get them the financial options they need to be successful. 

If you are ever around LA, I would be happy to help you out! :) Feel free to reach out if you have any other questions!

This is a really big panic-selling market we are in right now (at least in LA). Here's my two cents based on what you shared.

#1 Are your comps comparable to other homes in the market? Price drop is one thing - but it means nothing if you are not falling within the base of other comparable properties. To follow up, the next question is, is your home "turn-key" or does it need cosmetic (or major) repairs? If so, this can be a big reason buyers are not pulling the trigger. 

#2 Is your agent communicating feedback from the buyers? Giving reason as to what buyers like or what they don't like about the property? Regular communication is an indicator of effort and experience. 

#3 Do you like your agent? Likeability plays a big factor. If you don't, then maybe see when the listing agreement ends and move onto someone else.

Feel free to PM me if you need help or need a referral to someone. 

Good luck! 

I would also consider having a conversation about the 3-6 months of savings. I completely understand not wanting to touch them, but depending on your job history, length employed, and industry you are in, you may find that your money sitting in a low-yielding interest account is in more danger of losing its value than if it's invested in a cash flowing asset. :) This completely depends on the amount of money that is saved and your expenses, so I would need more information before assuming anything though.

In terms of STR, I can say that a lot of clients I've worked with have had incredible luck out here in CA. Getting connected with a creative lender can make for a world of difference. I've see people find ways to fund their down many ways.

Best of luck! 

I personally supply basics like a fridge, stove, washing machine and microwave. I don't personally provide a washer/dryer unless it was purchased with the deal. Personally, I haven't seen a major difference in rent values for the areas where I provide/don't provide them - but I still do because I want to be a good landlord. :) 

Washers and dryers tend to be the most annoying to deal with which is why I tend to avoid them unless already provided. I know some landlords provide them and charge for their services. I haven't looked into that too much, but it would be hard for me to "start" doing something like that now with seasoned tenants. At the end of the day, I want to provide good service to attract good tenants. Makes a world of difference. 

I know there are programs that allow you to actually get a license through college that also give you the ability to be a broker. I haven't looked them up in a while, so I don't know them off-hand.

What I can tell you is that while you don't need a degree, if the question is "I want to get one in addition to a real estate license" - there is no harm in majoring in business, marketing, or finance. All three of these options can be very helpful down the line in helping you better your skills or even advance into a higher-end career post-real estate as an executive at a brokerage. 

Hey @Bret Halsey - man. I love questions like this. There's nothing better than the first feeling of certainty "I want to get started in real estate investing". That being said, here's my two cents.

#1 Everyone here will have markets they want you to check out - just like everyone here will have strategies they suggest to use. I recommend that you start with what strategy you want to use first. It sounds like you are leaning towards Buy & Hold investing which is great - but consider all your options first. (STR, BRRRR, Flips, etc.) You will want to pick something that excites you and also makes the most sense given your time & capital.

#2 Build successful systems and habits NOW that you know you will follow. The honeymoon stage of investing is real. Once faced with a tough situation or with a concept you don't understand, things get a little harder. Often new. investors will stall out if they don't have good systems in place the plow them through difficult situations. I recommend planning out your weeks, setting aside time daily to work on pre-planned activities. Maybe it's analyzing a deal once a day, reading 5 pages from a real estate investing book, networking once a week, posting a question or answering a question here on the forums twice a day, etc. Whatever it is, build it and make sure it's manageable and build accountability in for yourself. This will really set your brain up for success when the tough questions come up. You will be sharper and more prepared to face those questions and make well-rounded decisions. 

#3 Now to your question. I have found a ton of success with SFH in Fayetteville, NC for buy-and-hold options. My properties are cash flowing between 300-500/month. Great tenants, solid economy (military from Ft. Bragg), and fairly decent landlord laws. Big fan.

In terms of STR, you can't go wrong with CA. So many destinations or populated areas to choose from. People will pay top dollar out here to stay in an Airbnb. Cash flow for these can be in the thousands.

Happy to chat more in detail about these if you want. Best of luck! 

Really depends on whether you are dealing with a land lease or not. I know out here in LA, mobile homes are not usually a good investment. Land leases dig into your cash flow quickly. Appreciation is also a problem. In a growth market out here, I would highly recommend looking into SFH or condos for buy & holds. STR are also strong out here too - but I would still prefer SFH or condo for those as well.

Hi @Elyse Ares Hamby,

First of all - congrats on working towards your real estate license. I run a top 1% team in CA for agents (I'm based in LA as well) - and would be happy to help provide you with any study materials or guidance you need along the way!

As far as wholesaling goes - I'm a huge fan of using PropStream. It's a paid service that allows you to run lists based on certain data you want the system to search for. Once you run your lists, you can skip trace them, get phone numbers and then start cold calling to generate wholesaling interest. Personally, I use this is a tool to not just wholesale, but to also set appointments if they do want to put their home on the market. Super powerful tool. If they are not interested in anything, then I can still use all the contact info (emails, numbers, etc.) to put the information in my CRM and add these people to my sphere. From there, I will generate educational content to send them that add value while providing "touches" throughout the year so that they remember me when they are ready to buy/sell. :) 

Hi @Linda May Wacker!

I was in your boat not that long ago. A few years ago I feel in love with the idea of real estate investing and started a journey of trying to figure out what I wanted to actually invest in. The truth is, a good investor-friendly agent is going to be your best ally when you are getting started. For me, I interviewed agents across the US as I was trying to determine what markets I wanted to get started in. I ended up investing long-term in North Carolina using an amazing agent there. I loved the process so much but realized that not all real estate agents are created equal (in that, they don't all understand how to work with investors.) I ended up getting my license and investing in CA. I now represent investors looking to get into investing out here as well. 

When you shop around for an agent, be sure that they are an expert in their market, that they understand how to run investment numbers and that they can speak to your investment strategy. Good agents will typically already have a team of property managers, contractors, handymen, investor-friendly lenders, etc. ready to go so that they can provide full-service to their clients. :)