All Forum Posts by: Joseph Konrad

A bunch of good questions Gary,

I can't give you answers that aren't just canned responses, so I want to wait for some of the more experienced investors to chime in.

I'm in a situation similar to yours, my family lives in the north Dallas area and it seems like that might be where I look for some holds.

It's the same thing as saying that you'll never make a good rehabber if you aren't a contractor.

I think the real advantage for a broker is the access to the MLS and the ability to comp out properties more quickly and accurately than a non broker.

Anything can be done with enough perseverance, it might just be more difficult for some.

Welcome Lindsay.

The best way that I've found to learn anything is to simply just get into it and do it. For some reason, I'm finally just realizing that the same holds true for real estate investing.

I know how it is to bounce around with the military (I'm a former Marine), but it can definitely be done. Check out podcast 23: http://www.biggerpockets.com/renewsblog/2013/06/20/bp-podcast-023-flipping-partnerships-military-james-vermillion/

There is a lot of good military investing information in that one.

Welcome Kelsey,

Not only have you found a great source of information, but everyone that I've met from BP has been extremely helpful and sincere.

I'll be there! Looking forward to seeing everyone again.

It looks a little too slim for me. It's priced at $150,000 which is 75% of your ARV. I wouldn't trust anything over 70% really. After you add in your repair costs you're looking at a potential profit of $15,000. Have you factored in holding costs and such? That $15K can get eaten up really quick I would think.

It was great meeting everyone tonight! Sorry I couldn't stick around longer. I look forward to seeing everyone again next month.

I would say that you should keep mailing them. With an estimated response rate being ~10%, you should have only had about one call back. There are a lot of other things that might factor into this and since you're in Tampa I would think that the response rate might be even lower.

My suggestion: keep mailing and find more vacant properties to send to so you can actually see some return.

I feel like you're probably going to get a lot of canned responses. A lot saying that you should probably save some money to use to start up, which I agree with. With that being said; here are a couple of the best ways to start up on a shoestring.

First, simply getting out and networking with others in the industry; this will get you acquainted with the big players in your market and you'll get a ton of experience along the way.

Second, for a more direct marketing route, you could try door knocking. I don't think a lot of people will do this because it's difficult, but that's what you have to work with on a budget. Motivated sellers aren't going to come find you, you have to find them.

Hope this helps.

This is actually something that I've wondered about myself for the same reason. My first guess is going to be that it's not quite worth it because it's more of a "shotgun style" approach compared to direct mail which is targeted directly at potentially motivated sellers.

Looking forward to what others have to say on this.