All Forum Posts by: Joshua Randall

I would start off with a low downpayment so you can give yourself some wiggle room if they counter back! So for example, don't right away offer 20% down because their could've been a chance the seller would take 8% down and that's a significant difference in terms of cash out of your pocket! I think with this personally my offer would be initially 8% down, 4.5% interest rate for 25 year amortization. If they want to do short term financing then something like 10% down, 5% interest only payments for 2-3 years with cash out refinance if they want more cash up front to feel more secure! Personally I feel like either of these offers would be appealing on either side. Just depends on what your seller is really wanting!

If you have the ability to buy multifamily it can give you much greater returns, a lot of factors are behind that but in general that's the case. Also if you are able to do Airbnb in your area or get properties with a high volume of travelers, your earning potential sky rockets if you can create a successful system. You could cash flow 2-3k off one property if it meets people's criteria. 

Hey Bigger Pockets Family!

Wanted to write this post to reach out to others but also share a little positivity for those just starting out!

So I started, genuinely started with marketing a CRM and talking with motivated property owners in December of 2020. I wasn't able to close my first deal until the end of March, while still working full time! But I learned a ton in the process with being able to research, talk with people and understanding how consistent you had to be in this game. About 2 months later I closed my second deal virtually while living in another state after moving from the area I had originally started in! Now in a new state, my brother-in-law and I have teamed up and we are about to close on our first deal, without even starting marketing yet! It was a referral!!

All of this to say, it was extremely tough going month to month struggling to close deals and getting frustrated nothing was happening. I biggest take away is that it's all about consistency. Almost a year later and I'm just now picking up traction to have a consistent deal flow. 

Message me if you want to connect, I'm in the St. Petersburg area of Florida!

Let's hear some of your frustrating or success stories out there!

Biggest thing that I would suggest working on first is learning all you can about Real Estate Investing as a whole. The more knowledge the better. You want to know what you’re talking about because you will more than likely run into other investors. 

Second, build that cash buyers list! Facebook groups, Real Estate Groups even some realtors are investors.

To save money I would start out by getting a less expensive CRM like Less Annoying CRM. Keeps you organized. Go out driving for dollars, send the houses you ping postcards. Boom! You’re wholesaling. Hopefully!

If you have more questions and need more details feel free to reach out!

@Caleb Brown I took a chance to see if I could get it moved knowing it might be a risk of not finding an end buyer, but we"ll see what happens! I'll keep plugging away and try to get more people aware that it's available. I appreciate you helping out!

@Caleb Brown it would be a great deal for the right person, my investors are looking for single family homes with low repairs in the area but I was able to come across this property that would be perfect for a business owner that works on cars or even cuts down trees because of the space it provides. It's just been difficult to try and reach that market and I was looking for suggestions on how to maybe reach them better.

Looking for feedback and tips on how to proceed with a wholesale deal. I've got the property under contract. I've marketed to my cash buyers, posted on Facebook, door knocked neighbors to see if they knew anybody interested, Cold Called local businesses (property is sitting on a lot next to an empty lot that is commercially zoned) and even sent emails to a few local Realtors/Brokerages for them to see if they have any clients that would be interested. 

Are there any other forms of marketing that I can use to get this property moved or create more traction with buyers? It's an incredible opportunity but the niche of the property is very small. It has a 15x30 electrical crane system in the garage. 

Hope you can give me some suggestions BP!

House Hack my first home in June, Wholesale 15 deals before June. Obtain 2 owner financed/master lease option homes before June!

Thanks for the reply! The numbers really do work here, on some properties you would be able to get over a 50% return on your investment in the first year! There are just very little investors here. 

I find deeply discounted properties all the time in Marion, IN and Grant County! Let me know if any of you would like to be added to my list. Would be great to connect with some of you!