All Forum Posts by: Ran Iarovich

Who do you need on your team to initially start a creative finance deal? Can you do it by yourself starting off? 

For investors:

Have you ever tried doing the subject-to strategy? What are your personal pros and cons with it? Do you recommend it to new investors? I'm assuming that it would be an easy way to get started with real estate investing with little cash flow but it sounds like it may be too good to be true. Any input is much appreciated! 

read as much as you can. attend real estate meetups which can be found on meetup.com or eventbrite.com or even a local county newsletter. 

eventbrite.com has some pretty cool events always popping up 

this is a business not just a piece of property. Make sure you understand their P&L. Also look at their brand functionality - reviews, website, brand image, condition, etc. 

If I were you I would try to have the owner teach you the ins and outs for a bit (3-6 months) after he sells it to you. 

You can make it work but you will be losing out on the following:

- someone who can look through the weasel clauses and encumbrances in the contract

- eagle eye view on the market and upcoming deals 

- a negotiator on your behalf 

- transaction coordinator 

- and more 

Also, the buyer doesn't pay the agent's commission so there is minimal risk for them in using a prominent agent. 

The mls offers a very unique advantage. Yes it puts some information on Zillow but most of it is hidden from the average viewer. For example, a property on the mls will include important documents that can change the direction of a deal. Things such as seller-disclosure, pre-inspection, etc. will all be there saving you time from contacting a middle man as well as giving you a quick overview if the property is worth investing in. These little things add up and compound. Things will even start to get dangerous once you have a market report that tells you instantly when properties are active. Compared to someone without the tool, you'll always be 2 steps ahead.

Hope everyone is having a good weekend.

Fun question for everyone:

I was curious as to how you would value unique real estate that stands at values of over the +$5mil range (non-investment)? Usually, these types of properties are built by custom builders and have completely unique designs, fixtures, and layouts. You can't use the comparable approach because, well, there is nothing to compare it to! Do agents just put them on the MLS with a guesstimate or is there a more in-depth analysis that I'm not aware of?

find a real estate agent who can help you underwrite the current comps in the area using the MLS. Also, try to join an investor mastermind in that area (for free) so that you can hear from the experts who've been in the game for longer.

e-commerce store selling random stuff ranging from bamboo toothbrushes, designer clothing, and mini zen gardens. I've also sold on Etsy and painted curbs during the summer months.