All Forum Posts by: Gualter Amarelo

@Nicholas Sawyer I cant believe I didn't see this post sooner. I followed a very similar path as you starting out. Fortunately even though I was working in Boston, I had grown up in Fall River and after over a year of listening to the bigger pockets podcast and searching the forums felt very comfortable with buying rental real estate.

I agree with Lien, that you should join the local real estate groups and if you are serious about investing on the SouthCoast you can check out my free weekly training/networking events online at GualterAmarelo.com

You will learn how to find the deals AND how to build a team, if you want to invest in any of the major opportunity zones in Fall River, New Bedford, Brockton, Taunton.

We also have members who are investing in Worcester, Gardner, Springfield, Dorchester, Waltham, Chelsea, and even New Jersey and North Carolina.

That said, $100k saved up can be leveraged to buy you $400k-500k in rental property and in some cases, if the seller is willing to finance a part of the de could get you closer to $1,000,000.

On the southcoast you will have cashflow and a lower barrier to entry.

In the boston area you have to rely on appreciation and cashflow is essentially nonexistent, which is why cashflow investors are forced to stretch outside of the boston market and are finding their way into these higher cashflow markets.

I look forward to seeing you in some of our future zoom trainings!

Cheers to your success!

@Justin Badillo I love this question because its something I have been wrestling with lately in my business.

As some background, I own 50 rental units with a partner and have 14 more closing in the next 45 days.

We are currently running 4 flips, have a real estate team of 25 agents and run a free wholesaling mastermind with 300 members.

As the market sbifted towards a sellers market 7-8 years ago.. more and more we have found that inventory is decreasing, agents are increasing and a seller has more options to sell their property as buyers also increase.

This all adds up to the game of wholesaling becoming more work. The deals are farther and fewer between eachother. Over all it makes me wonder if a wholesaler shouldn't ALSO have their real estate license as a way to convert more often.

This is just something I have been considering mentioning to the investors in my community who have been asking the same thing.

Is wholesaling still worth it. Yes, of course it is, but you had better have another source of income and for how hard you are going to work, you should consider taking the deal down yoursf.

Working With Real Estate Investors Training For Real Estate Agents & Wholesalers.

The first conversation you have with an investor is one of the most important you will have and it will set the context for every interaction going forward. Take it very seriously, because this is serious business.

As an Alchemist it is your responsibility to teach your investors how to invest for CASHFLOW!

Without a great agent there would be a large gap to fill in the real estate industry. Thanks to YOU Buyers who require your information, skills and network will be able to build their empires.

For More Information go to www.Gualteramarelo.com

Cheers to Your Success and see you soon! 

PS. Every Wednesday at 6:00 pm Eastern - Same Zoom Link Each Week

https://us02web.zoom.us/webinar/register/4715928539404/WN_k-befgeaRc--I_BI3RuuTA?fbclid=IwAR01WEcG7NTaea2jpgLHMAXVxfTPYd-pDKTZfnMCdhyfsbwLdFv_maT5euc

@Joe S. Great question.

First: ask them to send you pictures of the property

Second: give them a range of the low end of the price you would pay.

It can only go two ways:

1. Your crazy- hang up

2. Your crazy - I want this much (now you are in negotiations

Then occasionally, but very rarely, someone will just say that range sounds good 👌🏻

Don’t waste your time going to appointments unless you have it under contract or it is 10 minutes away.

For example, I know investors who live in Boston, but they invest in Fall River or Worcester which are both great markets compared to Boston cap rates.

These markets are both an hour away and traffic can turn it into 2 hours so you want to make sure you’ve got a serious seller before making that trek to their house.

I hope this helped. Let me know if I missed entirely. Cheers 🥂

I purchased 24 units in Fall River last year and was able to stack up another 11 units in the city at the beginning of the year, but I have a goal of buying 50 units this year so I am still 39 units shy...

I guess that isn’t the whole story.. So I currently own 50 units and have another 14 units under agreement at the moment. If those close that will put me half way to my goal with 25 units taken down and 25 units left to go. (Yes, I know this will end the year with 89 units and not 100)

I would love to get to 100 by the end of the year, but I am going to have to step up my marketing somewhere or find some really good wholesalers to make this happen.

My question is where are the best wholesalers in the country and how do you convince them to start targeting your market?

I currently have a line of credit for just a little over $1,000,000 which with my lenders could at a minimum get us another $5,000,000 in deals done, but that isn’t the full potential.

I’ve been raising private capital and have another $1MM-2MM in Private Capital that can help us acquire another $5MM-$10MM in property.

Of course all of this personal cash and private capital doesn’t include the seller financing I’ve been using to reduce the 20% down payments to 10% of 0% down on some of our recent deals.

So in some ways, as long as the deal makes sense we can move on somewhere between $10MM-$20MM in real estate deals here in Fall River, Massachusetts.

So since money is a none issue, we are focusing more on the Aquisitions side of the business and realizing that there just aren’t enough wholesalers in our market. We are open to the New Bedford market and could possibly be convinced to do business in Worcester.

Anyway... if you know a good wholesaler or a real estate Agent with off-market deals willing to work with us in the Massachusetts area please tag them here so we can connect and do a bunch of deals together.

I appreciate any and all referrals. Cheers to our success!

@James Hamling I love the detail! 💯 begins this strategy!

@Katie Miller I’ve thought about this often and the answer always comes back about the same.

Buy $5,000,000 worth of real estate in Fall River or New Bedford, setup my property manager and move to a warmer city like Tampa or Dallas, lol

Who knows... maybe it would actually make sense just to buy a $5MM building in the city I retire in...

That’s a new piece to the plan, that I only just noticed now! Thanks for posting this one!

@Patrick Froehlich this is such a great question and as many of the other contributors have mentioned there are so many strengths you have as someone in your 40’s.

Most people I have worked with and myself included, started with buying 1 house in their first year and then either a second or third house in there second year.

It’s the 3rd and 4th years that’s the business really picks up and you can start leveraging your experience, equity and your established real estate connections to start scaling your business to attain financial freedom.

If you are willing to dedicate 5 years to this business and have patience while trusting the process and taking action you can retire within 3-5 years in most cases and if you choose to be less active you could still retire within 5-10 years which at 40 years old is still going to give you the opportunity to retire at 45-50 years old and get off that salary treadmill that so many people are saved to.

Great job on asking such an important question!

Cheers to your success!

@Mindy Jensen Thank you for making this process so straight forward and easy to start. This forum and the podcasts are the reason I am where I am today and I am so thankful for this community! Cheers to financial freedom through real estate a reality for anyone willing to learn!

@Logan Heydt as far as cashflow it really depends on how leveraged you are on your properties.

A BiggerPockets standard is about $100 per unit of TRUE CASHFLOW. I emphasize that because many investors don’t actually pay close attention to their numbers.

Of course that figure is assuming you have property management in place. If you are planning on self-managing you can get closer to $200-300 Cashflow per door, but at some point you will want to bring in a manager to help you scale more.

In most other markets in the state you will find that investors are actually negative cashflow and can’t afford a property manager.

Cheers to your success!