All Forum Posts by: James Wilcox

Thanks. I bought a new duplex from a developer a few months ago, so it might make sense to try to work with that developer to build some more.

I want to build my first apartment/condo building/complex and then continue doing that as my career. I currently have very little of my own money to put into a deal (<$50k), however, I know half of my town and expect that I could raise the required capital from investors. I currently live in Richmond, KY and the town is growing quickly, so I think it makes sense to plan to do the first project in Richmond.

If you were me, who would you be talking to right now and what questions would you be asking?

My Background
I have worked for a few years as a construction manager and a few years as a civil engineer, and I got my PhD in civil engineering by studying construction productivity. I have mostly worked on industrial projects, but some commercial. I have also been a landlord for over a decade and I've been studying real estate like it's my job for several years now. Learning is my greatest strength and I'm certain that I can figure this out if I can find the right people to work with.

@Joshua Christensen

Very well explicated Joshua, full price with my terms seems like a fair way to make a deal that works both ways.

@James Wilcox

my agent guves the impression that no owners in kentucky are willing to “risk” financing their home, is it less common for these deals to happen there?

I am just beginning my journey. I plan to wholesale properties to begin with and am looking for investors.  I will be focusing on Kentucky and Tennessee properties initially, with the goal of purchasing my first rental this year. Looking forward to learning and meeting people who share a love for real estate investing! And finally, thrilled to be focusing on what I love instead of what I'm trained to do.  

Hello Fellow Investors,

I hope this post finds you all well and thriving in your real estate ventures. I'm reaching out to the community for some guidance and insights as I navigate through my own journey in the real estate market. I started my real estate investment journey just four months ago I am 22 years old and I'm eager to hear your thoughts on how I'm doing so far.

To provide a bit of context, I've acquired a duplex for $96,000, generating a monthly income of $1,650. Additionally, I've invested in a trailer park with a purchase price of $200,000, bringing in a monthly revenue of $4,650. Taking into account my monthly mortgages, which total around $2,300, I'm in a solid cash flow position.

Now, as I look to the future, I am keen on expanding my real estate portfolio further and streamlining my growth. I believe there's room for more opportunities, and I'm interested in hearing from experienced investors about the steps I should consider taking to reach my goals.

Specifically, I'd appreciate insights on the following:

1. 1. What strategies have worked best for you when expanding your real estate portfolio?
2. 2. How can I effectively manage multiple properties to ensure continued growth?
3. 3. Are there specific types of properties or markets that you recommend exploring for expansion?
4. 4. Any advice on financing options or leveraging equity for future acquisitions?

I value the experiences and knowledge of this community, and I'm open to any suggestions, lessons learned, or even pitfalls to avoid. Your insights will be invaluable as I continue to build my real estate empire.

Aspiring Real Estate investor based in the Ann Arbor, Michigan area.  I have always had an interest in real estate and decided it is time to jump in. Looking to invest in rental properties in south east Michigan and Lexington, Kentucky areas. 

Looking forward to getting started in 2024!

@James Wilcox

Hi James, How did you find these winter deals, on the mls?

Im curious to know if anyone is currently finding discounted 2-4 unit properties consistently at all in this time of the market, or if their are any direct mail niches that would work best for finding discounts and/or value add opportunities for these types of properties. If it helps im focused on the Lexington KY market and looking to rent to traveling nurses but it would be nice to get something that’s discounted enough to work for a longterm rental also.

Thank you for your patience with my condition!would appreciate any input.

Nigel

@Mark Kurywczak

you only need a handful of active buyers who buy multiple properties monthly. A few years ago, I had a list of about 50k buyers that I have collected over the years

I will start by doing the following

-) active local real estate clubs and network. If someone tells you they are a fix and flipper and/or landlord add them to your list

-) if you have access to MLS, you can search for cash transactions in the area (subdivisions) you are marketing and skip trace the buyers

3) Search in google for " We buy houses cash (your city) then call the websites and ask them if they are cash buyers, some may be wholesalers but some are buyers too. 

4) go to the city auction and network with people bidding there, There are a lot of buyers

5) post in Facebook groups a post that says " Looking for cash Buyers (Your City)" and DM the people that like or comment in your page

 We need to jump on a phone call sometime about where you think I should best be looking