All Forum Posts by: Jose Enage

Welcome Lisa Dawson to the family. Suggest you view the podcasts. Take a look at Al Williamson's podcast on landlording.
http://www.biggerpockets.com/renewsblog/2013/03/07/profitable-ethical-landlord/

You dont have to be a landlord or property manager to be in real estate. You can just be an asset manger and focus what you do best as long as you surround yourself with the right people. The BP community is one of them.

Hi @kennedy williams - Sometimes its better to be a "big fish is a small pond" than the other way around. It will not hurt to try and test the market. Whatever market it is, there will be divorce, death, drinking problems etc. This spells opportunity.

If still none, you can move outward of your market radius in concentric circles. Also, you can just wholesale out of state, which I am doing right now.(wish me luck)

The best bet is to ask your list provider if there are significant number of out of state owners, probates, etc.in your town. Target these and see what happens.

Welcome Tom! You've come to the right place...of wisdom, resource, tools and family.

Like Jean Bolger, I like rentometer.com a lot and I tend to compare it with rentmetrics.com to come up with my own estimates. For SFRs this is probably good enough but if you are looking at multi-families, there are metric companies you can subscribe to and you can get real accurate. The question is how much do you want to spend.

Hi Holly,

I think you are looking for the Marcus Millichap report. You can google their website http://www.marcusmillichap.com/. They have the outlook report which breaks down all states across the board as well as all categories - commercial, residential etc. It will also graphically illustrate the different phases the R.E. market is in for the major cities nationwide. If you can't find the report, PM me with your email and I will send you a copy.

Cheers!

I emailed you too Stuart. Thanks.

Welcome Cameron!

Hi Taylor,
Suggest you start with Loopnet.com. Browse at the commercial properties in Phoenix. Ask about the property of interest to you, call the broker and ask him if he has anymore like the one you saw. This should be a good start to establish a relationship. Loopnet is not necessarily the source for good deals but it is the source for finding brokers that can get you good deals ( they call them "pocket deals").

Suggest you be ready to tell him what property specs you want that way he knows you mean business and that you are a "player".

Added to what Mike H says, if you are doing this full-time as a business, you want to keep the investment/flip/buy & hold "constant" as your deal flow keeps coming. In addition, if you are doing larger multi-families for buy & hold (syndication etc) you need larger amounts for down payment from private lenders.

HMLs are also great for quick flips where your allocated max. for banks is let's say is 4 units, with HMLs you can keep going as it is loaned not on credit standing/limits but on property's worth.

Hi Michael,

Welcome to the BP family! This one big team you've joined.