All Forum Posts by: Ran Iarovich

what is your cap rate? What made you think that this location was good? Are you more of an appreciation or a cash flow investor? Are you going to keep it as-is or are you going to try to value add to it in some way? 

Great report! 

I recommend checking out Pace Morbys seller financing techniques with no money down - https://www.pacemorby.com/ 

make it a virtual grocery store with no inventory - https://gajitz.com/worlds-firs...

I'm having this same issue. I would say that you would need to really understand the lease payments and mortgage so that you know how if you'd lose money in that deadtime period. Also make sure that you understand the motivation of the tenants so that you don't get screwed over by either having them squat the house or wrecking the place. Hope this helps! 

I know many part time realtors who made it. It really depends about being conscious with your time. If you are able to get a layout of your goals for the year - break them down to what you need to do every month, every week, and every day. Knowing how many calls, open houses, and appointments you need to go to will give you a better idea of how much money you will net, how much time you will spend, and if being a real estate agent is the right approach while you are working part-time. 

You are right pre-approval is first the most important. I would pick a budget, rooms, lot size, location, etc. Really try to get to a point where you can close your eyes and see the perfect house. At that point, find a good realtor that you can express what you want. Try to be as specific as you want since their job is to manifest your goals into real estate. As the realtor looks around for you, make sure that you pay attention to the market reports or upcoming houses that fit your criteria. As the market picks up during the summer, you want to be able to view properties as fast as possible so that you can get the best opportunity to make a strong offer. Once you find the house, you can make an offer with your agent. The agent should show you how to make the escrow payments as well as the weasle clauses, encumbrances, and more. 

I usually look for an area that has high appreciation. The average appreciation across the U.S. is 4%. I aim to at least hit that target year over year or even higher. Look for low crime rates, good schools, good walkability, and more. Niche.com is a great site that can give you a summary of a neighborhood that you don't know much of. 

find a mastermind group that you can come back to. Also get a good advisor investor agent with investing experience. Keep trying to go to group events and get in contact with local contractors that you trust. Building a dream team should be your first go-to. 

I would find the best broker team nearby. A team of agents will constantly communicate off-market deals between themselves and be able to share them with you if you communicate your goals with them. 

- new photographs and videos 

- new PM company 

- post throughout mls websites

- calculate risk attached to creating looser rental applications