All Forum Posts by: Nick Cabreira

Hey Patrick,

I agree with Max on that. Work your way from top to bottom first with your plan, start backwards, think of your goals and how to get there, look at specific strategy vehicles to get you there, learn them, and find ways to start applying them in real life. Really try and narrow it down to specifics. There are many of resources here in the forums and in many BiggerPockets podcasts as well. 

With this in mind you'll get a better idea of what a "good deal" looks like for you, because it truly could mean many different things and is subjective depending on the goals & strategy you choose from. (maybe a good deal could be a property having good amount of equity, or x appreciation overtime, or x number of cashflow, or a certain location that matches with a specific criteria, or a specific return metric, or value add... you see where I'm going...) 

You mentioned not having a lot of capital to begin with, and some vehicles you can leverage off of is creative financing for example, or if in a partnership by providing the "sweat equity" part of the deal. But again, to understand better what a deal is depends on your investment strategy that aligns with your goals-once you map that out, I'm sure you will have a more clear vision of a good deal might look like and go in search of one.

Hope this helps, good luck!

Hey Chase,

After studying and familiarizing myself in the world of real estate for the past years, I am currently 20 years old and starting out my career as an agent in the Orange County are--soon enough the goal is to be investing in deals in and out of state myself as well. Would love to connect and expand my network!

Hey Peter, I'm glad you found the data intriguing and valuable.

Since I'm just starting in the Agent game, I'll currently be focusing on traditional buyers and sellers within the Orange County area at first to gain some more hands on experience--working towards my main goal of helping investors find their ideal investments and become an investor myself is part of the plan as well.

However, I am keeping a close eye on the broader market trends to understand the dynamics affecting our local market. Orange County is a diverse and vibrant area, and I'm eager to explore the opportunities it presents.

As for my clients, I'm currently in the process of building a pipeline of interested connections, and I have yet to work on my first few deals. Nonetheless, I am actively researching and staying informed to best serve my future clients' needs.

Outside of the data mentioned in the report, I'll definitely be paying attention to any unique patterns or trends that might arise when engaging with and match directly towards the clients' goals. There's often valuable information to be gleaned from their specific situations and preferences. I'm eager to learn more about their individual real estate goals.

If you have any tips or insights based on your experiences in the industry, I'd greatly appreciate hearing them. As I embark on this new journey, I'm looking forward to connecting with fellow professionals and learning from their expertise!

Here is some intriguing data from July that sheds light on the current situation. The market continues to favor sellers, with inventory hitting a 20-year low - a 67% decline from last year. However, buyers can take a bit of comfort in a recent 5% increase in available inventory of homes.

About demand - the number of homes entering escrow is 39% lower compared to the more stable market from 2017 to 2019. This juxtaposition of a 67% reduction in inventory and a 39% drop in demand creates a captivating landscape. On the bright side, interest rates are softening a little bit as well, moving from the low sevens earlier this year to the upper sixes due to recent encouraging economic data. Experts predict a desirable mid-fives range for buyers next year. (or we hope so at least!)

On home prices - a noteworthy shift has also occurred. Homes are now selling at asking price for sellers preparing and pricing their home right with multiple offers and homes selling above asking are common occurrences.  a significant change from selling 7% below asking earlier this year. Sellers can find solace in the market's resilience despite lower inventory, fewer homes in escrow, and higher rates.

Thank you for your time, I'm excited to our next update in this month of August!

Hey Robert. I am just starting out my journey and career as a soon to be agent and begin investing as well in the near future. Still, I am looking to expand my network and it would be great to connect! And if you have any advice or guidance for starting out, that would be also be much appreciated!

Hey Will. I agree with Randy, and on top of that, for another layer of safety I would say before taking any action, you could try and reach out to the bank to explain your intentions. If they approve, then it shouldn't be an issue. Otherwise, you can return the property to the owner and explore other options.

Some other notes I have is that as long as you continue to make timely payments, the lender is unlikely to call on the loan. To handle the situation with the bank, seek advice from an experienced real estate attorney. You can also explore some helpful suggestions from Pace Morby.

Besides that, since you can't really get around that, I would say your best shot is to learn how to deal and work with it in case that happens beforehand so it doesn't catch you by surprise.

Hope this helps, best of luck!

Hey Johnny, I am also at the start of my journey as an agent, but from my experience and learning to this point in time, I for sure recommend you to check out some of the BiggerPockets Show podcasts with David Greene & Rob Abasolo, especially ones featuring agents. Usually they share their story and a lot of good tips on top of that as part of their experience. 

Another thing is definitely checking out the book series by David Greene: SOLD, SKILL, and SCALE. I am sure you will take away a lot of gems from these readings, save a lot of time and struggle, and grow your business as an agent much faster with the head start knowledge. Then of course, take some real good notes and apply in real life.

Hope this helps and wish you all the success, let's get it!