All Forum Posts by: Lexey Vezzoso

I am a Rookie investor trying to figure out how to finance my first deal any advice is appreciated! When you bought your first property how much cash did you have? How did you finance your first deal?

Hey everyone, 

I'm interested in getting started in Real Estate, and was just curious which area people suggest to start in? (Flipping, Rentals, etc.) Thanks in advance. 

I am junior in college extremely interested in pursing a career in long term rental properties. I’m looking for connections with people that could help to jump start my journey into the field of real estate investing. I have been doing research and listening to podcasts for a while, now I am looking to start to build a network and hopefully learn some imperative skills, that will help me along my real estate journey. 

thank you! 

In my area the cheapest you can get a home is about 200k. If your lucky you score a 20$/hr job (min is 12$), and get 40k per year, and are still unable to qualify. This is a reality for most people around me, they rent and are on the edge of homelessness all the time.

What can they do? What real options do they have? How do they have a chance to get into real estate?

Great info @Account Closed! As an investor who recently decided to just get my real estate license and be done with it, I look forward to learning from both sides of the coin.

I do believe Carlos is an agent, not an investor, and was looking to learn more about the skills investors look for so that he could make sure he has those skills in order to drum up their business. My hunch is the video you sent will be filled with great advice for him.

As an investor who decided to make the plunge and just get my license for my own direct access to the MLS, I will tell you that investors need you to be quick because good deals don't sit around. Nothing sits around these days, but even in normal times, investor-worthy deals can get snatched up quickly. A lot of agents hate working with investors because we put in lowball offers, most of which are rejected. If more than 30% of your offers are being accepted (some would say 10%) you are probably offering too much!! So be ready to write a lot of offers quickly! The payoff is that a good investor buys several properties every year as opposed to the one house the average family buys every 7-10 years. So that's the upside. And if they are a flipper, you are getting the purchase and the sale.

@Marian Huish brought up some great watch outs for you. A lot of so called investors aren't actually funded or experienced. I imagine your first prescreening calls will be very important. You probably only want to work with investors who have actually done a few deals and already work with some agents but are looking to increase their pipeline of deals, perhaps in a new market. 

I decided to get my own license because no one was as fast as I wanted them to be. Perhaps my expectations are too high. I haven't yet decided if I'm going to work with other investors myself. I wouldn't mind having my finger on the pulse but there could be a conflict of interest.

Good luck!

Hi Carlos,

 This is a free on-demand webinar called Investor-Friendly Agents: The Hero on Your REI Team hosted by @Anson Young (author of Finding and Funding Great Deals) that talks about the different types of real estate agents and what to look for to ensure you partner with an investor-friendly agent that's right for you and your investment strategy. 

Anson gives some great tips (like finding someone that aligns with your strategy, has first hand investment experience, etc., and also gives pointers on how to prepare and get the most out of your partnership with an agent).

I also recommend using Agent Finder to help you find an investor-friendly agent when you begin your search.

Have a great day!