All Forum Posts by: Anibal Mijangos

E-Myth by Michael E. Gerber is AMAZING. It talks about the different components of a successful startup and how your role impacts its success. Probably one of the best business books I've read.

Outliers by Malcolm Gladwell is also great. What better way to learn about business and how to become a great business person than learn from those who have already reached success. 

Quote from @Dominic Pizzi:

I am very interested to hear opinions on what everyone believes is the best marketing strategy to obtain new business. 

So far I am seeing that social media is the dominant factor in this regard. Facebook marketing and LinkedIn posts promoting your business or what products/services you provide tend to be the overwhelming possibility for marketing. 

What other strategies have you used that have worked? 

 It all depends on what your business is. But for the most part, since the majority of real estate fields revolve heavily around relationships, I'd say to do what you can to focus on that. Use platforms like Meetup and Eventbrite to find local events where you can connect with people in person. Building those relationships can lead to business + referrals. 

When you do social media marketing, focus on the relationship side. This means showcase YOU, not entirely what you do. The idea here is to make people feel like they know you without having actually met you. How cool would it be for people to say "I know" but never have met you in person. 

A common strategy is looking up listing of landlords renting out apartments or houses. The idea is that if they have one rental property, they may want another. You'll have to put in the work, but it's a good way to build up a buyers list directly with the buyer. 

Another way is to reach out to other wholesalers to joint venture (JV) on a deal. Look for top wholesalers on here, let them know you have a deal, and ask them if they're interested in helping. You got the property under contract, they find the buyer from their already built list. Less commission for you but something is better than nothing.

The platform is insane. Crazy to think I've met some great people and am fortunate enough to call some of them irl friends. You'll have a great time here! 

Quote from @Heather Gates:

Hello Everyone! I have been a lurker on YouTube for awhile, but just this month decided to set up a profile and start to learn from other doers. I purchased my first investment property this year in April. I own a quadplex in Oklahoma. This summer my family and I moved to Arkansas to be closer to family and so I transition from my 14 year banking career to staying home with my toddler who was diagnosed with Angelman Syndrome this year. She's my WHY just in case you were wondering ;) 

Any who, I am learning more about my current location and changing investment strategies from multi-family to trying to start an MTR. I'm now in a much smaller town so still trying to figure out the best move for my portfolio.

OH and also starting a business with a friend and looking to purchase a condo near Disney and start up and STR down there. My future business partners live near there but this also prompted me to start this account so I can get some additional insight on that brand new market, having a business partner and having an STR. Any and all insight is very welcome. I look forward to learning from you soon!

Wow! Lots to do, sounds like an exciting journey. Best of luck! I hope to learn from you in the forums here. 

Quote from @John Underwood:

It's never been anything more than a job if you can even convince an owner to let you use their property. 

 Yeah, I figured it's more of a "business" than an investing strategy. From what I've seen though it could be a great way to generate solid cashflow which could fuel an investment strategy. 

Quote from @Andrew Steffens:

I think it is market dependent.

Our first STR was a beachfront mansion in foreclosure and the owner was happy to oblige and rented us the house for $5,500. It brought in over $30k every month for over a year.

Wow! Incredible find. I can see how it's like looking for a unicorn. That's why I'm thinking I would have to spend a good amount of money on lead gen. Even then it would most likely be a lot of leads but not every one is worth pursuing. 

I'm thinking I'd find a lot of these. Crunching the numbers is going to be huge. 

Thanks for the input Andrew!

Quote from @Eliott Elias:

Forget the opinions, look at the supply and demand in your area. See if it works for yourself 

 100%! I'm in the Los Angeles County area so saturation is a real concern. But I also know there's lots of travel here so if I can find a great deal, it could turn into something big. 

Quote from @Joshua Messinger:

Hey @Anibal Mijangos! 

It really depends... Given how many gurus are marketing and pushing consumers to get into Airbnb arbitrage it has created a massive amount of saturation across many markets. That doesn't mean there aren't good deals out there, but nowhere near as many as there used to be. I would also consider that market rents had just increased and usually when getting into Airbnb arbitrage you are signing leases for 2 years at a time which could be the difference between you making or losing money. 

I hope this helps and if you have any more questions please don't hesitate to DM me! 

-

Josh

 Thanks Josh! Makes a lot of sense, especially about rent increasing. Signing a 1-2 year lease sounds like a huge risk for arbitrage. I'd have to plan around that in case I have to front the rent due to poor performing rentals. 

For those doing it or who have already started, is AirBnB arbitrage still something worth pursuing? Is the opportunity still there for new people?

I used to see AirBnB arbitrage on social media a lot. At one point, I saw more of it than wholesaling. I just did a quick google search and I saw A LOT of opinions about it. Both from the property owner and the actual arbitrager. Good and bad opinions. I thought I'd better go to a source I trust more, the Bigger Pockets community.