All Forum Posts by: Jacob Valle

@Freddy Hernandez I think you raise a good question.  If you are planning to self-manage your rentals, then you really are replacing the property manager from your core 4.  In that case, I agree with you that it seems unlikely that a property manager would give you much help or guidance if they know there is no pathway for compensation for them.  However, I would not discard the property manager completely and just assume to self-manage.  I do think it would be worth your time to sit down with a property manager for an initial "discover" conversation to explore more specifically what they could do for you.  Just having an initial conversation now, even if you don't use them now, will set you up for success later.  This initial conversation will not only build your network of connections, but let you know more specifically what to expect from a property manager relationship should you choose to use them at a later date. 

While it can be advantageous to self-manager at times, I have also seen it be the more expensive option for landlords.  A good property manager will know the market rates, be well-versed in screening tenants, and know how to work efficiently with repairmen.  I've seen investors try to self-manager, and in doing naively make a big mistake screening tenants.  Turned out that the tenants stopped paying rent immediately and it ended up costing the landlord thousands of dollars in loss rent and eviction costs.  The moral of the story, don't discount the value a good property manager can bring, even if it does cost you some money.

HI @Freddy Hernandez, welcome to the world of real estate investing!  Definitely meetups and talking with other investors is a huge help for knowledge and guidance along the way.  I am not sure about groups in the Joliet area, but just down the road in LaSalle County we have a Facebook group and monthly meetup.  Feel free to reach out if I can be of any help!

https://www.facebook.com/group...

I agree, it is a great feeling when you get to see someone's eyes light-up as they learn how investing in real estate truly can transform their financial situation.  And, there's so many creative ways to do and help them get started!

Congrats and welcome to the BP community!  There are a lot of great resources on the podcasts, blogs, and forums.  But, I think the best resource to help you avoid analysis-paralysis and actually start investing is a good team around you.  Find a loan officer, real estate agent, contractor, property manager, and a couple of mentors.  Lean into them for guidance and advice.  Best of luck!

Has it been a month already? Time for our next monthly meetup!

This networking meetup event is for Real Estate Investors of all kinds. No matter your experience with long-term rentals, short-term rentals, flix-n-flip, syndications, or just looking to get started, we want you there. We're trying to put together a network of people interested in real estate investing to help share ideas, advice, guidance, and maybe a few deals. Join us for this networking event, at 6pm in the back room at Liberty Family Restaurant (1131 Shooting Park Rd, Peru, IL).

No tickets or fees required. No purchase necessary.
RSVP encouraged, but not required: https://www.facebook.com/event...

We're turning this into a recurring, monthly event. To help stay connected and know about future meetups, join our local Facebook group: https://www.facebook.com/groups/illinoisvalleyrealestateinvestors

@Kashif Khan Welcome to the world of real estate investing!  As you look through the forums and online, you will find that there are countless ways to invest in real estate or to shape a deal.   Because that can be overwhelming at times, I think the best way to succeed is to surround yourself with your own "team".  This team could include a mentor, a mortgage broker, a real estate agent, a contractor, and a property manager.  Together, in consultation with your team, you will find a confident path forward for a successful journey investing in real estate.

Feel free to reach out to me if I can be of any further help.  Here in Ottawa, IL, we have all kinds of opportunities to invest in real estate, including new construction properties.

Have you tried using the BP Agent Finder app?  That's a great place to start looking for an investor-friendly agent.

Welcome Bernard!  I've been a BP member for a few years now, but only recently built-out my profile and started interacting in the forums.  As soon as I did that, others local to me started reaching out and I've made some great connections.  I guess, as the saying goes, you get out what you out into it.  So, lets keep being involved here and I'm sure we'll both find it rewarding to us!

On a personal note, I'm located not to far from you down in the LaSalle-Peru-Ottawa area of Illinois.  Let me know if I can be of any help to you finding investment properties.  There's lots of good deals in this area!

This networking meetup event is for Real Estate Investors of all kinds. No matter your experience with long-term rentals, short-term rentals, flix-n-flip, syndications, or just looking to get started, we want you there. We're trying to put together a network of people interested in real estate investing to help share ideas, advice, guidance, and maybe a few deals. Join us for this networking event, at 6pm in the back room at Liberty Family Restaurant (1131 Shooting Park Rd, Peru, IL).

No tickets or fees required. No purchase necessary. RSVP encouraged, but not required.

Facebook event details: https://fb.me/e/3e6qVtHvb

We're hoping to turn this into a recurring, monthly event. To help stay connected and know about future meetups, join our local Facebook group: https://www.facebook.com/groups/illinoisvalleyrealestateinvestors

I'm getting ready to host an investor meet-up.  I'm new to these and this will also be new to my local community.  Does anyone have advice on how to promote the event? What makes a good agenda for the meetup?  How to make sure everyone finds it a rewarding event?  And, how to keep the momentum going for future meet-ups to be successful?  

Thanks for any guidance.  I'm really hoping to build a strong local network of investors.