All Forum Posts by: Jackson Pontsler

I imagine there are property managers that specialize in section 8 housing.  If I'm wrong please let me know.  Otherwise from your experience what is the vacancy rates and management fee that is typically charged?

@Mark Normandin my start into this game could take a while but here is the watered down version.  My start was with my first rental a duplex that we house hacked.  After that my wife and I had enough money to do a flip.  We found a deal and partner with another investor who was way more experienced than us.  He took us under his wing since we brought him the deal and showed us the ropes.  After a couple of rounds we are now off on our own!  Had a new rehab hit the market this week and got 2 offers over 25k of the asking price.

But enough about me.  I always recommend new people to work under a GC or work under another investor.  If you are following people that are dong what you want to be doing then you will follow thier path and reach their level of success!

Welcome friend.  I think it was good by learning under a GC to accurately estimate and do repairs but be careful not to let that be where you're stuck.  If you are doing all the repairs yourself you won't be able to do 2 at once. 

Oh boy, first off congrats!  My best advice would look into the legal protection provided in each state and then base your company in the one that provides the most benefits for you.  I would recommend talking with a real estate attorney or a cpa regarding this matter.

@Sam Marcos that is probably the biggest misconception because it depends on your exit strategy.  Just know that the less money you have the more time you need.  Lets look at some exit strategies to determine how much capital you need

If you are wholesaling:  Costs: Marketing (rather small)

If you are a buy and hold: Costs: Downpayment (can be hefty)

If you are a flipper:  Costs:  High (downpayment and repairs)

There are ways around it. Such as borrowing from a HML and having a frined supplement the rest but you need a really good deal with alot of spread to make this work. Other options are seller financing options where the sellers holds the loan and you pay them a monthy mortage payment.

Real Estate Investing is a daunting challenge that I feel at time is too idolized.  It can lead to great financial freedom and wealth but requires work.  You will need to put in about 20 offers to 1 accepted (ish not a rule).  This means you get rejected alot and it can be draining when you are putting your time and money in something that hasn't even happened yet.

Keep at it my friend.  This isn't a sprint but a marathon.  I know you've been at this for a year but if you find a good enough deal then you can always wholesale it off.  Sure its not a flip but aleast you can make some money and save up and become great at marketing so you can do a large amount of flips in a couple of years.

@Mackenzie Fike-Bliscik the biggest advice I can give new REI is they need to determine alot of things:

1. DETERMINE WHAT YOU WANT LONG TERM! (A flipping company, rental portfolio, apartment building etc....)

2. DETERMINE IF YOU CAN START THERE! (you may not be able to start with apartment building)

3. DETERMINE STRATEGY TO GET YOU THERE! (Wholesaling -> Flipping -> Apartment building)

4. FIND SOMEONE WHO IS ALREADY A ROCKSTAR WHERE YOU WANT TO START AND WORK FOR THEM/ BEFRIEND THEM.

5. LEARN THE ROPES FROM YOUR FRIEND TILL YOU REACH THAT LEVEL OF SUCCESS

6. REPEAT 4 and 5 TILL YOU GET WHERE YOU WANT TO BE!

I wish you the best my friend and keep reaching out there is a wealth of resources here to help you.

You can get a statement from hard money lender for the amount, but make sure you waive the subject to financing clause, otherwise you are financing and more than likely will create a bad name for investors when you potentnially fail to raise the funds.

My wife and I have been actively connecting with wholesalers and realtors and have found success.  Now after a couple of our deals we have more capital we want to leverage to get 2 to 3 rehabs going at once, rather than one at a time.  We've decided on budgeting $2000 a month to budgeting.  However I feel like we're a little limited when it comes to marketing ideas.  What options have come to our mind are:

Facebook ads

Bandit Signs (tried it before not much success)

Direct Mail

Besides these options what other ones can you think of and which option do you recommend primarily?

@Upen Patel I know this is a long shot but how about this for @David Healey could he name his unit in the triplex as his secondary residence so he can purchase the new property as a primary residence.  Then he could AIRBNB his triplex unit since he could be potentially monitored if he is renting all of his units.

I have often told people who are looking to wholesale that they should look off the MLS because alot of agents don't prefer to work with wholesalers. However over the last year of being a flipper and rehabber in Salt Lake City, UT I've seen individiuals wholesaling deals off the MLS. I don't know if they are assigning the contract or double closing but wanted to get it from the horses mouth rather than make assumptions.

Do real estate agents like to work with wholesalers?

If not what do you do if you suspect your client is looking to simultaniously/double close on the property?