All Forum Posts by: Malachi Weary

Maximizing proceeds toward your investments will take more time, but will create more revenue in the run. If you have a full time occupation and your looking to invest into real estate to grow and build wealth over time. Turn key properties is a suggestion. A property single or multifamily ready for tenants to occupy and begin receiving cash flow or value add distressed properties at a discounted price that your team "core 4" will bring up to date and generate value and cash flow. This depends on the amount of time your interested in applying to your journey. Either choice your a success!! Keep up the great work Giuseppe

Nice, long term rentals is definitely a good idea. Goal setting is a great way to set checkpoints and timelines to growth within your journey! Have you thought about nice mid term rental investing to generate capital for your long-term investments, along with lender leveraging and maximizing your cash?

Awesome Paul, action is achieving!

Quote from @Gage Holmes:

New to being a member here but long time listener. I am wanting to get into flipping or renting houses in the next year or so. I am currently 21 and have 50k saved up. 

Looking for any advice on a good place to start or common mistakes to avoid. Any tips are appreciated. 

Thanks!

The best way to insure your investment through positive investing of properties is by learning. You will pay for what you don't know. It would be good to decide whether you want to invest in the state or outside. Study the market and find the areas with positive population growth, low crime rates, and new development structures, and work opportunities that help the economy. Find your core 4

1. Deal finder

2.contractor

3. property manager

4. Lender

The county website and select the properties parcel id

Quote from @Chanel Pearson:

Hi Everyone!

I've spent the last few years watching and being inspired by Bigger Pockets. I am a dual citizen, and find Canadian real estate is just too expensive.

There are really cheap duplexes in the US, such as Jackson, MI (and other states) - there are fixer-uppers, some as low as 18 K. I know a lot of these houses are in cheaper neighbourhoods - but if the house is the worst one on the block and just needs TLC - why are these houses not being scooped up? What am I missing? I remember distinctly in some BP videos how they talked about buying low, fixing, and renting out - buying the worst house on a nice block.

My plan is to buy, and fix up - live in one side and rent out the other as a very very beginner. Is this likely a bad move for a beginner, as it could go all haywire with fixing? I don't want to get in over my head either - but I have lower savings and won't be approved for something over 175K.

Thanks for any insight!!

Hey Chanel, my name is Malachi. There are multiple factors that consist of finding a market for investing. You want to find a real estate market that promotes and stimulates growth. You should look for the mid and long term view of how the area will evolve and perform. Investors stay away from areas that wont promote ROI Return in income. Boots on the ground you want to find an area that is growing in population with low crime rates. Larger population-more jobs; more jobs more business-more business- the more housing people will need to survive and live their everyday life. Oftentimes houses that are not being scooped up are because they are in bad areas that promote the economy, health, or sustained living, and safety. Real Estate is a business of connection and relation as you know with being part of the bigger pockets community congratulations on taking action Chanel! Im excited to see you grow within your journey. You need a team known as your core 4 valuable components that are tools you need to make success in real estate. 

1. The deal finder- Brings you deals that are discounted that may need some work, but will provide you with an opportunity to add value to the home. Creating a larger spread of income based on time and your exit strategy.

2. The Property Manager- Your property manager will care and maintain your property as you continue your business endeavors. They can also provide you advice and intelligence on the market and specific deals your looking to purchase and insure your success rate. With having someone that understands the shifts and changes on a daily basis in the market. Your insider

3. The Contractor- The person you have on your team to renovate your deals. The productivity and quality of the contractor determine how fast you can get tenants in the property and begin making cashflow.

4. The Lender- "OPM" using other peoples money to fund your deals is an effective method to building and scaling a real estate portfolio. 

You thought of buying a duplex and renting another side out for cash flow or to cover your rent and live rent free is a GREAT idea! Known as house hacking 

Hey Jennifer, my name is Malachi. It is awesome to know your taking action to get into real estate. As you may know real estate is a process. Gradually working your way up is the way to go building your way to success and long term wealth. With real estate being such a vast network of connections, markets, niches, and pathways it is easy to become overwhelmed in the process: you are not alone. Understand that through your journey you have control. Nothing can prevent you from growth and achieving your desired path and vision. When becoming overwhelmed it is always a good idea to stick to the basics and fundamentals. Things that will never change in real estate. Building your team consists of 4 primary members that will establish and maintain your foundation in real estate. Known as the core 4

1. The deal finder, is the person or people you have generating deals for you to invest in.

2.The property manager- The person that will maintain your assets and insure everything is running smoothly and orderly for efficiency 

3. The contractor, when getting deals below market or discounted they are not necessarily in perfect condition; they may need work. A reliable contractor will repair and sustain your properties.  Your contractor and property manager go hand and hand with problems being noticed to them being fixed

4. The lender- Allows you to use opm "other peoples money" to build wealth

Finding these 4 people will put you in position to start, grow, and build day by day to what you desire for your real estate career. Real Estate is fun! Always keep and value honest and genuine people. I wish you the best in your journey Jennifer
                              

Remember-Real Estate is Debt and Taxes 

Awesome Stashoo, great news! Cold calling is one of the best methods in generating the best deals. Talking directly to the sells is how you develop your relation intent with the seller. You are communicating over the phone. The sellers sense of understanding the person you are is through communication which would give them a sense of your character. 

Tip in cold calling: 

Be kind, honest, and respectful with another person's time and you will do great!

Never give up stick with it; your time will come. Keep up the great work

Hey Shuvrajit, Congratulations on your investment journey. When it comes to an LLC there are multiple ways to improperly set up. You want to find a reputable company that has attorneys that understand tax codes for real estate in specific to insure your success securely,legally, and financially. Prime corporate services is a company that does exactly this. Feel free to do your own personal research

Keep up the great work! Great to see you posting and reaching out