All Forum Posts by: Terrance Hill

Hi Francisco,

From my experience, I think you should consider **direct mail campaigns** targeting pre-foreclosures, probate, and vacant homes, or **driving for dollars** in neighborhoods with neglected properties. Networking with **wholesalers** and **local real estate agents** who specialize in distressed properties can also lead to off-market deals. **Foreclosure auctions** and online platforms like **Auction.com** or **PropStream** are useful for sourcing deals as well. For budgeting rehab costs, be aware that **labor** and **material costs** in Long Island are higher than many areas, so always get multiple quotes for work. Include a **contingency budget** of 10-20% for unexpected repairs, and factor in **permit fees** and **inspection costs**. Focus on **cosmetic renovations** where possible and plan for **higher landscaping** and **curb appeal** costs. Network with experienced local **contractors** and get references to ensure quality work. Track every cost carefully to avoid overruns, and use spreadsheets or software to manage your budget. 

Hi Josh, 

To start with multi-family investing, I think you should focus on **cash flow** by ensuring rental income covers expenses and leaves you with positive cash flow. Use the **capitalization rate (Cap Rate)** to assess property value and potential returns. While concerns about the market being at a "top" are valid, you can still succeed by focusing on **cash flow over appreciation** and buying in areas with strong **rental demand**. Research local **rent trends**, **vacancy rates**, and **job growth** to find stable markets. Also, network with local investors to get a better understanding of emerging opportunities. Make sure the properties you target are **cash-flow positive** from day one.

Hi Nick,

To get started in real estate investing, focus on securing financing through **hard money loans**, **local credit unions** (for better rates and home equity options), or **private lenders** who may offer capital for a share of profits. Start small with manageable properties, and make sure you understand your **purchase price, rehab costs, and after-repair value (ARV)** to ensure profitability. It's important to **get pre-approved for financing** before making offers. Even with market shifts, there are still opportunities if you buy below market value and focus on solid ROI. Talk to lenders, study the numbers, and network with other investors to set yourself up for success!

Hello Takarra

For BRRRR in Augusta, watch out for these key risks: **overpaying**, **underestimating rehab costs**, **refinancing issues**, **overestimating rent**, and **tenant problems**. To avoid these, **buy below market value**, **budget extra for repairs**, **work with BRRRR-friendly lenders**, **verify rent estimates**, and **screen tenants well**. Your next step: **join a local REI group, connect with lenders, and analyze a few deals** to get comfortable. Keep it simple—take one step at a time!

Hi Justin!

To get started, I would suggest focusing on **finding deals, funding them, and getting them under contract**. Look for distressed properties through **driving for dollars** or by connecting with **wholesalers**. Use **hard money lenders, private lenders, or creative financing** to fund your first deal. When you find a property, use a **simple purchase agreement** and work with an **investor-friendly title company** to close. Your next step: **identify 10–20 distressed properties and connect with wholesalers**. Keep it simple—take action and learn as you go!

Cordell, to effectively launch your real estate investment journey in Missouri, first clearly define your investment strategy, including property types and criteria. Research and regularly analyze local markets via free websites or ideally finding a realtor that can you you quarterly data, build a reliable team (agents, lenders, contractors), and establish solid financing sources. Engage actively with local investor groups and online communities to network and learn. Consistently practice property analysis, leveraging your wholesale experience to confidently pursue your initial investment, starting small and scaling thoughtfully from there.

Hi Marson, what areas of the country do you specialize in for lending?

Hi Jamal,

It's impressive that you're starting your real estate investing journey early! You're on the right track by focusing first on areas that interest you most. I recommend beginning in your local market to familiarize yourself with where duplexes are typically located, and analyze the list-to-sale ratio to ensure there's enough activity to support your investment goals. Duplex availability varies significantly from one neighborhood to another, so confirming sufficient opportunities to find, contract, and successfully close deals is an essential first step before expanding into surrounding markets.

Keep me updated—I'm here to help as you progress!

Hi Emmanuel, 

Here are some actionable things you can do from where you are now to gain some montentium. 

• Define exactly what type of deals you want—flips, rentals, wholesaling, etc.
• Set clear, short-term objectives (e.g., one deal in first 90 days).

• Im not sure if you are people person but you have to dial it up and join local REIA meetings, investor meetups, or online groups in addition to Bigger Pockets. Attend at least two meetings per month. introduce yourself and you may need to create a script that works for your personality. On that ads for deeper engagement is: " What excites you about your professional career?"

• Reach out immediately to personal connections in California, Nevada, Utah, and Idaho, letting them know about your venture.
• Inform them you're open to both local and out-of-state deals.

• Identify 1–2 experienced investors in your community who could mentor or co-invest on your first deal.
• Offer clear value (e.g., deal sourcing, sweat equity, administrative help).

• Quickly learn the basics: analyzing deals, understanding contracts, funding options, and market indicators.
• Take one targeted training or workshop focused on your primary strategy.

Consistency in these areas will position you effectively to secure your first deal. I hope this helps. 

Adversity is real but may not as clearly defined by everyone the same. In real estate as in life we often have to adapt, improvise and strive to overcome those things that stand in our path to success however we measure that.  

For me I am always testing and tracking but most importantly sticking to the fundamentals and being early to adapt and pivot though keeping your north star in focus. This is the advise I use myself and give to our clients. The challenge at times is to know "when" to pivot, how to do so and where is that leading you too.