All Forum Posts by: Jay Martin

Massive probably isn't necessary.   Quality over quantity.  You want REAL cash buyers.  (People who actually close, rather than talk about it.)

This question is pretty well covered.

The definitive starting point.   (Is even "stickied" at the top of the forum as such).

Also:  Building Cash Buyers List

Bottom line:   Build a relationship with a few real buyers, make sure you have a good deal, and you'll have NO problem rolling through them.

I would open this question up to the wider General Real Estate Discussion forum. This forum is generally for Wholesaling discussions.

Having said that, you're probably best off going to local meetups. Find people there who are "compatible" with your goals. Since you are looking to purchase a rental, let the wholesalers know what you're looking for.  There may be people in the same room with you that actively market to your target demographic.

If possible, find a mentor.   Talk to EVERYONE.   Tell them what you are planning.

I personally would engage an Agent that also invests.  (Could become your mentor)

That seems a little like "What kind of car should I buy?"     There are SO many options.

Your personal experiences, personality, and budget will drive many of the decisions.  Try to think of the types of people that will be in the individual areas you describe.

A set of townhomes or condos near an upscale bar scene would attract very different set of people than a residential neighborhood near elementary schools, which would in turn be different than homes near a University.

*ANY* location can be successful, if approached from the correct angle.  I know successful investors that deal exclusively in the roughest neighborhoods, and others that won't go near them.

So it really comes down to "Who do you want to deal with?"    Figure that out, and find out where those people live.

I've had the exact same experience.   

1)  Look at "Recently Sold" prices, if they are offered in your area on realtor.com or zillow.com, and compare the results to your target property.  The prices aren't listed in my area, but each mls has it's own rules.  YMMV

2) Find a realtor in your area that is hungry.  Explain what you are doing, and give them your business when you can.    Your realtor can also get you a list of the "Recently Sold" properties like above, with even more information.

3) Go look at "open houses" in your farm area.   

The more you do this, the better you become at estimating the price on your own.  You'll get to a point where you can estimate the value on the fly.

Hi Pedro,

Shortest Answer:   BP Calculators

Longer Answer:

@Brandon Turner does a webinar every Wednesday on a variety of topics and almost always runs through the process of analyzing deals.  It's a great investment of time to learn the basics.   There is one starting in a few hours at the time of this posting.

Beyond that, it's a matter of practice.  Do it OVER and OVER and OVER, until it becomes automatic.  To use the BP calculators more than a few times a month, I believe you need a Pro Level account. 

I *HIGHLY* recommend a pro account.  Think of it as an investment in your education and future business.  If you sign up during the webinars, Brandon sometimes gives away goodies to help you along.  :) 

Once you get a deal, you can post it to the forums and ask someone to take a look at it.    

Jay

(I really need to finish up my profile)

Usual disclaimer:  I am not a lawyer, nor do I play one on TV.

There's a great podcast on this exact subject.   Show 109.

https://www.youtube.com/watch?v=9poEo_JJUxQ

I've heard many a lawyer refer to the "LegalDoom" website.  Their words, not mine.  It's cheaper, but you usually get what you pay for.  

The short of it all:   Go with the pros.   It pays for itself many times over.

Just my $.02

Jay