All Forum Posts by: Jim Pellerin

Put together a sample deal and then start meeting with potential joint venture partners to get them to fund it. Once you have about 4 that say yes start looking for deals. Once you have a deal send it to your potential partners saying first come first serve. 

You can find these people at your local real estate investing club. Most places have some form of a club. 

Hire a mentor. I wasnt doing anything. Then I started hiring mentors for different aspects of my investments. I went from 10 properties to 30 in 1 year and100 in 3 years. 

@Francisco Corral If wholesaling is your strategy then your target audience is motivated sellers with run down houses. I've only used investor carrot with major success.

@Francisco Corral 

First you have to decide what strategy you would like to pursue. As a beginner I would look at wholesaling or lease options. 

Then you have to identify your target audience on the front end. Motivated sellers and the buyers or tenant buyers on the backend.

Next you need to decide your marketing and campaign strategy. Just running ads looking for motivated sellers won't work. What's your unique selling proposition. I would focus on using facebook ads.

And finally, probably the most important, you need a good converting website / landing page. I would recommend using the oncarrot websites. They are already optimized. All you have to do is configure them. 

Always incorporate. Limited liability. Tax advantages.

There are lots of paid mentorship programs out there. I've paid a much as $50k for 1 of mine. Yes. You always need a mentor / coach. All successful people have mentors. Or you can try and learn yourself. Beware of the free information you receive.

That seems like a pretty open question. Do you mean financially or purely from an interest perspective? Do you mean from a risk perspective? from a time consumption perspective? from someone who likes fixing things? from a career alternative?   

If you are in Winnipeg, check out Stefan Arnio.  He's responsible for a lot of the fix and flips in the city. He also does a monthly investment group meeting.

Use Lease Options and Joint Venture partners. I grew my portfolio to 30 properties in 1 year and 100 in 3 years.

It depends on your goals. 

Fix and flip is a short term strategy and can provide short term income, if you know what you're doing.  

Rentals is a long term strategy and you only make money after 10 years, or so, when you sell or refinance. Don't expect to make anything from your monthly rents. They usually get eaten up by maintenance, repairs, vacancies, etc. 

The strategy I teach for rentals is:

1. Buy 10 rentals

2. Rent them out for 10 years.

3. After 10 years, sell 5 of them.

4. Use the proceeds to pay down the other 5.

5. Enjoy the positive cashflow from those remaining 5 properties.