All Forum Posts by: Anibal Mijangos

Make sure to create a solid follow up strategy. Something as simple as calling the same contact up to 3 different times/days would be good. Also using direct mail to add more touchpoints in the mix. 

Although it's not easy, the strategies to find buyers is fairly simple. A great strategy is to cold call brokers and agents in the area of where the property is located. There's a pretty good chance one of the them can connect you with an investor they have worked with. LinkedIn and BiggerPockets is also a pretty good strategy. 

You'll want to have a quick portfolio presentation ready to go so you can quickly send off to interested people. Something as simple as have the numbers and photos of the property laid out in a pdf is good. 

I come from the blockchain world, where a lot of conventions and shows happen at venues with casinos. The top influencers and company executives in the industry would always be found around the poker table. Probably because of the somewhat gambling nature of the developing blockchain/crypto space. It got to the point that if someone wanted to network with them, they had to learn how to play poker well. 

Has anyone noticed something similar for real estate investors? I was thinking it would be golf. Or maybe even collections such as cars and watches.

I haven't done it myself (but now I really want to!) but this is how I would go about doing that:

1. Calculate your current monthly expenses.

2. Depending on the market you're looking into, you're going to want to calculate how much it costs to maintain/operate a single family, duplex, or other. Depending on what investments you'll want to get into. Use this info to get the average maintenance cost per door.

3. Find the average price of rent for the type of door (sfh, duplex, apartment, etc) in that market. Subtract the average maintenance cost per door from the average rent. That'll get you the average profit you'll potentially get per door. 

4. Divide your current monthly expenses with the average profit per door. That'll get you how many doors you'll potentially need to cover your expenses. 

This is a super basic process that doesn't take into consideration a lot of smaller details, but it's the general idea. I'd say it's enough to get the mind thinking how possible it really is.

I'd recommend starting off with learning everything you can about wholesaling, apartment investing, and general real estate investing strategies. Like how to spot a good deal, the general process of buying and selling properties (i.e. putting in an offer, escrow, financing, etc). Especially if there's a city you want to focus in. Get to know the market in that area. How much properties go for, who the top investors are, and what makes a good/bad deal. There are multiple stories of people that know how to find and put a deal together and then find partners for the financing. 

Wholesaling is a great way to start getting involved in the real estate investing world. Dedicate time to network with lenders, brokers/agents, title companies, and other investors.You'll connect with plenty on your wholesaling journey. Which in turn could lead to more deals outside of wholesaling and meeting others. It's not so much about putting a team together. It's more about building your contact list.

Bigger Pockets is a great start, btw. Webinars, blog, and the bookstore. Top tier. 

That sounds like a great case scenario. If they're already being evicted, then you wouldn't have wanted them as tenants anyways. You'll be able to get better tenants in there. Plus, you'll be able to renovate those units once they're out and potentially increase the rent. It's a good thing your agent is getting more information. The sooner those tenants are out, the better it is. If the eviction process is already well along, then you may not have to wait too long before they're out.

Call them, explain your situation, and ask them for recommendations. Different lenders offer different products. FHA is usually hyped up for first time home buyers but may not always be the best for everyone. Popular alternative to FHA is a conventional loan.

Another thing you may want to try is finding lenders here on Bigger Pockets. Networking on the forums or maybe a lender will reply on your post.

Something as simple as reading more personal development and financial literacy content would have taken me further a lot faster. 

And of course.....buy bitcoin. Haha

Highly recommend starting off by reading and consuming as much REI content as possible. From Bigger Pockets, podcasts, and youtubers. Find a branch of real estate investing you'd like to focus on first (i.e. short/long term rentals, wholesaling, flipping, SFR house hack, etc) and get started there. You'd spread yourself too thin trying to go for all of them. Would be a good idea to connect with people in your local community so they can show you the ropes in a more detailed manner. Then by the time you're ready to do something on your own, you'll already be confident enough to do it.

I believe you can set specifications on AirBnB and VRBO to only allow bookings for a month or more. Their fees and commissions may cut into your numbers, but the extra eyes could potentially bring in more consistent bookings. 

Networking on here, BP, and LinkedIn have been great for me. In a pinch, I've also seen people have success by cold calling realtors and asking them if they have any cash buyers in their network that would be interested in purchasing.