All Forum Posts by: Joe Aiola

@Salomón Mora great question. You have some good advice on this thread already. As @Jonathan Greene and @Sumit Sehgal have mentioned, finding deals and knowing the market / numbers will be at the top of the list. 

I would also add to be responsive, be good at negotiating, and to have a good team around you. Having connections that the investor can leverage is very valuable.

Hope this helps and best of luck!

@Steven Haughey you got great advice on this thread from @Jonathan Greene, @Kristina Anderson, @Jeffrey Donis, and @John Teachout. The only thing I would add is to follow up after you submit your offer (if they reject it). A lot of times investors will submit their offer and then never circle back. As properties sit on the market, sellers tend to get more motivated. I would submit your offer then check in every 2 weeks or so to let them know you're still interested in buying.

Hope this helps and best of luck!

@Christopher Fleitas Congrats on getting started! You have an advantage of learning the market as an agent because of the MLS. My recommendation to you would be to start by spending 1-2 hours a day looking at a few markets you are interested in (in terms of investing). You should know these numbers very well so that you know exactly what a property will sell for, rent for, etc. This will help you spot deals quickly and help eliminate the doubts you have.

Then I would say to work with a few investors as an agent. Add value to the investors and see what it is they are looking for in a property and why. 

Hope this helps - best of luck!

@Jay V Billings LinkedIn, as @David Evans mentioned, is a great way. I would also recommend that you start reaching to people you already know but haven't talked to in a while. Make it a point to reach out to them genuinely, and on a consistent basis. A CRM can help you with this.

Have you read Sell or Be Sold by Grant Cardone yet? If not, that's a great book that has a chapter on networking. 

Hope this helps!

@Colin Williams It's good to do some basic due diligence before making an offer, but I wouldn't go too in depth because you can waste a lot of time by doing that. As investors we're normally making lower offers, which means we will most likely have to make several offers to get one deal. Don't want to see you waste several hours searching for this info just for the seller to tell you they're not going to sell at the price you're offering. There is plenty of time to do your full due diligence during negotiations and even after you have an accepted offer.  

Again, this doesn't mean make offers freely. Still do your basic research / analyzing and make sure you're offering on properties that make sense.

Hope this helps!

@Neeraj Walia you should connect with @Abel Curiel. He knows the Queens market well and is a great agent who might be able to find you some good investment opportunities.

@Joseph Porter At the end of every podcast, the guest mentions a few books that they like. The books that are recommended often are books I would start with if I were in your shoes. Or you can search BP for articles on book recommendations. For example, here's one below:

https://www.biggerpockets.com/...

Hope this helps and best of luck!

@Andrew Sanders You came to the right place to start your learning. Congrats on taking the first step.

I don't think it can be narrowed down to one thing but, if I had to pick one, I would say commitment. You need to be committed to learning, committed to consistency, committed to being focused, committed to taking massive action, committed to not quitting, committed to leaving your comfort zone, committed to becoming the best person you can be, etc. 

Essentially, you need to be committed to do whatever it takes to get to where you want to go.

Hope this helps and best of luck!

@Daniel L Zavala Hey Danny, congrats on the duplex! If you're looking to connect with investors in your area, then I would recommend:

• Going to local REIA meetings
• Calling rental signs / listings that are provided by the owner
• Driving around town to see any construction projects going on

Make a ton of phone calls, tell everyone what you do, and add value to people - this will help grow your network if you do it consistently.

Hope this helps and best of luck!

@Fahadbin Alam Yes, you are going to want to compare the house to sold properties. You want these comps to be similar in size, style, and proximity, but there are other factors as well (like amenities and condition, for example). 

If you are working with an agent then they are the one to help you with this. You can use Zillow and sites like that to get an idea, but the agent pulling comps from the MLS will be the most accurate.

Hope this helps and best of luck.