All Forum Posts by: Nathaniel Hovsepian

@Shane Willis everyone here isn't wrong. DMM is still alive and well, but there are much better options out there to put your marketing dollars into. 

The #1 way to find (and I use the word find loosely) deals right now and going forward in the future is through PPC. When you advertise online with PPC, sellers find you, not the other way around. There is no need to generate some list, and hope that it is a good one. There is no need to write letters, or pay someone else to do so. All you have to do is set up the campaign and start answering the phone when motivated sellers start calling. 

Don't waste your time and money on DMM. Put whatever budget you have towards getting to those sellers that actually want to sell their house, instead of just owners that fit some criteria that you set up.

@Jamie McCauley it seems like you have a good little thing going, but have you thought about using some of those profits to start your own marketing instead of using a wholesaler? 

If you want to accelerate your growth, the best way to do so is to start finding the deals yourself, and I use finding very loosely. With PPC, the deals find you. I have been doing this for the past three months now, and have generated five different deals, with about 12 more that I feel I can close over the next 3 to 6 months. 

@Kevin Moore you have put yourself into a great position to be successful in REI. Everyone here has great opinions on ways that you could go about utilizing your $80k. @Cassi Justiz brings up a great point about investing remotely somewhere like the midwest. I was in OKC myself, and that city has one of the best price to rent ratios in the country. I would say that she isn't doing the best job of finding deals if the prices that she quoted is what she's paying, but maybe she is just going off the MLS.

Are you you trying to make Investing a full time thing, or just doing it on the side for long term?

If you are going to make it full time, the best thing you can do is to start finding deals on your own, wherever you decide to do so. I wrote an article on here specifically about finding deals in 2020 if you want to check it out. I would take a couple thousand bucks and run a solid PPC campaign and get sellers calling you. You can find great deals that way that nobody else even knows exist because the seller calls you before they even think about listing it.

This is going to be a great thread for you to bounce ideas off of, so post here and let's hear what you are thinking.

Hey @Melanie Hartmann Buy and Holds is where it's at! 

I haven't found one yet to BRRRR, but getting that cash flow coming in. Set out to get 2 rentals that cash flow $200 per month with an annual 10% ROI by April 3rd. I am closing on my first Jan 28th!

@Dave Foster That Uncle Sam has got me comin and goin

@Richard Gonzales Oh, that's great news! Now you get to do all of your due diligence and make sure everything is on the up and up, but you are on your way to a solid house hack I think. Keep me updated with anything you find along the way, but I think you are good to go!

@Dave Foster Thank you for all of that info. Now that you mention the "intent" aspect, I definitely remember hearing about this before. 

I could not look myself in the mirror and say that I had the intent to hold these long term, so looks like I can't do a 1031 on them.

Guess I am going to have to pay taxes on these, like a sucker!

@Melanie Hartmann well, you better start learning with me!

Glad to friend you on BP as well!

@Frank Chin I didn't know that. I thought it was just any property that you made gains on?

I am looking for long term investments, so I guess I should get in touch with someone who is well versed in this and start to learn some more

I have begun gaining some traction getting deals under contract and have started accumulating a small buyers list. I don't want to be wholesaling long term though. I want to be developing my rental portfolio for long term wealth building.

I do use the term wholesaling kind of loosely here, as I have purchased the properties using my own cash, and then are proceeding to sell them to other buyers. I haven't gotten one "wholesaled" yet.

Since I am using my own cash to purchase, and then sell, I am thinking that doing a 1031 exchange, and then purchasing rental units with the tax deferred money might be a good idea.

I am only somewhat familiar with how a 1031 exchange works, but know that it provides benefits for people who are trying to move one asset into a similar asset without having to pay capital gains tax.

Has anyone out there done this kind of thing before and have any insights? Can you think of any reasons why I shouldn't do this?