All Forum Posts by: Patrick Drury

@Jamie Blair
If you are looking for seller-financed deals the best way to find those is via off-market deals. Typically a seller that has their property listed on the MLS is going to be less inclined to agree to seller financing. Although, don't ask don't get. Personally, a big part is, in my opinion, you need to know these people and build a relationship with them before seller financing becomes an option. By that I mean you would have the highest probability of getting seller fancied deals if you cold-called sellers and personally ask them.

@Josh Coder
I personally cold call. You should look up the owner on the county auditors' website and call them up until they sell. 

@Cody Dawson
As you mentioned depending on how you structure your STR management company you shouldn't even need a broker. If you operate through Airbnb the owner can collect the revenue and all you do is supply guest services if you are not collecting revenue and change for services rendered. I would beg to differ on the remark that it's not attractive to passive investors. A co-worker of mine @Marc Rice does the exact same thing with around 100 doors and people beg him in Columbus to take on their properties and are glad to partner with him on deals because of his expertise. I don't think investors will be turned off by that. If you are really good at what you do people will throw money at you and want to partner with you/ invest in you. As always consult with a local attorney maybe things are different in Cleveland than in Columbus. 

@Jack Sickels

As @Lydia S. mentioned you should ask your agent for a CMA or comparables that have sold in your area. Based on those comparables you should proceed instead of spending money on an appraisal blindly. Zillow and Redfin are great resources, but appraisers will be using sold comparables to determine the value so checking Zillow will not give you an accurate idea of what it will appraise at.

@Matthew Catanzariti
If you are looking to cash out from real estate and walk away I would recommend you do it now while the market is high. Inventory is low and prices are at record highs. 

@Sai Keerty
Find a market and cold call sellers to find deals and network with investors and agents that work with investors. Typically, you can find agents that will be open to working with you at local real estate meet-ups. Agents that work with investors are great people to shop deals too because they can bring you a buyer, and if you're in contract with an agent, you have someone in your corner with more knowledge of how to navigate a transaction than you if you are just getting started. 

@Cesar Cruz
The first thing you would want to do is know your market. So you need to figure out where you will be investing. Will it be local or out of state? If the price doesn't make sense locally, take time to research markets and find one that fits for what you are looking for. I would recommend checking out Columbus OH. It has a lot of population growth and job opportunities, especially with the new Intel plant that is being built. The Columbus market offers a balance of cash flow and appreciation. Once you have found a market it's time to start building your team or as David Green calls it your core 4 - https://www.biggerpockets.com/.... Your Core 4 will be your boots on the ground. 

@Michael Louis
I'll DM you! 

Piggybacking on STR's. In Columbus OH the house committee actually recently passed a bill that blocks towns and counties from passing ordinances to prohibit businesses or people from renting property for less than 30 days. This is the first state I have heard of doing this or moving in this direction. Not sure if anyone else has seen a similar thing happen where they live locally. Here is the article I am referencing- https://bit.ly/3NNByyh. 

 Typically, I call each list 2-3 times and then pull a fresh list. It has worked out great for me and it helps negate wasting a lot of time on the oh I sold that last month. A handful of phone calls with people that have sold their property and have nothing else is just a waste of time that could have been avoided if you pulled a fresh list. The auditors would have reflected that it was sold and you could have deleted it from the list. If they did sell it and the auditors just hasn't been updated yet it can't be helped, it always lags behind a little.