All Forum Posts by: Heath Thomas Jr

If you plan to be in this business a long time. A website can be helpful. Using google adwords can create a lot of leads overnight. SEO (Search Engine Optimization) takes longer to generate leads, but is also a pretty passive ay to find deals. 

Either way, if you do a website, make sure you know what you're doing. Or at least outsource to someone who does. Otherwise, it could be a waste of money. Instead of a huge money maker.

It's necessary to have at least 3-4 lead generation techniques to find deals.

@Jabri Carter How do you plan on finding your deals?

Nice Cash flow opportunity. Recently Redone Plumbing, HVAC, and hot water heater. The house needs $8,000 or so. New Paint, Carpet, Some Windows. and kitchen appliances. 

Rental rates in the area go from 900-1000 acing 23,500

Hmmm. I think thay would be delaying the inevitable. 

I feel like that would be building 2 books of business over the next few years. Unless you go with a big brokerage which has a lot of incoming leads.

To be successful with anything in life you need focus. Thats why they say "the riches are in the niches". 

My advice is: Whichever route you take. Make sure you have a decent amount in savings! 

I would only do it through my personal name if you were going to "house hack" and use FHA/VA financing. If you don't know what house hacking is, there's tons of blog and forum posts to help you!

Depending on your goals, it's important to treat investing like a business. Therefore, I believe you should protect yourself like a business. 

No, there are certilain companies that provide rental property financing. But at a higher rate. Abot 6-8%. 

Id check in to Lima One Capital's rental 30 program.

commercial takes much longer to complete a deal, but the deals can be MUCH larger. Just beware of that.

In my experience it's also has a pretty long start up time. It could be 2-3 years before you really start to make any money. 

But since that's what you want to do, no reason to start with residential. Just go for it! I'm not sure if working two jobs while doing commercial real estate is a good idea or a bad idea.

While you will need a second form of income, you also need to spend a considerable amount of time each week growing your client list. This is something that probably can't be done on the weekend. 

Best of luck!!

Best of Luck with your mail campaign! I don't do direct mail, buy one key thing I've noticed is consistency is key. For instance: It's much better to mail 100 people 4 times than it is to mail 400 people once. If everyone, else only sends one letter and you have 4 letters to that seller. Who's name/ logo are they likely to remember? 

I wish you much success!!

@Leo RobinsonYour best bet would be to find transactional funding. And do a Double close. From what I know, banks won't let you assign a contract. An added benefit is transactional lenders will give you a Proof of funds, which you will probably need to submit an REO offer.

Has anyone in the DC area found craigslist an effective source of finding motivated sellers? I did it for 3x a day for 2 months, a few months ago. I didn't really get many results, a couple of people visited to my website, but it led to nothing. 

I see many other investors do it in the area. I'd like to give it another try but wondering if it's worth it ( either the time to post, or the money to hire a VA longterm to do it)

Welcome @Sam KimMy Partner and I are Rehabbers in Crystal City. We invest in Baltimore mainly though!