All Forum Posts by: Rafael Norat

Anything you do, go there in person a couple of times and get a feel for the area and people. Product, people, and processes. Whether at home or at distance, there will be a learning curve at any point. I invest in pa and manage myself with staff support there. That way I'm within 2 hours and can visit on a weekly basis if needed. Works for me but maybe not for others. Reach out if you have any question or check my profile. 3 years worth of notes.

Jackson Tate man.. I don't know about the South Carolina area but that sounds interesting to say the least! Congrats on getting started. Seems like you'll have some good lessons learned here and hopefully make some money. I did a septic job on my first rehab that was quite an educational experience. Wish you the best and enjoy! J Scott's book on BP ( flipping houses and estimated rehab) is a good informative read.

@Zeshan Choudhry I would recommend NOT setting up an answering service at first and instead fielding your calls.

Why? This will give you invaluable experience interacting with the customer you will be getting to know. That will then provide good data to put into your systems. Start out slow, field your calls, learn, and then build.

Just my 2 cents. Plenty of ways here..

Zeshan Choudhry great job getting things going! 50% equity is a common number. But if you have enough leads around 70% equity then don't water it down too much. I usually prefer higher equity and less leads than fielding more calls where owners have a higher payoff. Also sometimes the 2nd mortgage doesn't show up and adds to the amount as well. Trial and error on your frequency my friend. Pick one and see how you like it. I prefer to send them out all at once so I field most of my calls within a short timespan. Then usually have some stragglers along the way. But can only do what your call team (if only yourself) can support. Bi weekly may have you answering the phone every day. It's pretty much up to you and what you prefer. Maybe consult with other wholesalers in your area as well to get their local opinions. Hope that helps.

Rentometer.com for rental rates in the area.

Try neighborhoodscout.com - high level approach. Maybe city-data.com if you need to dig into it a bit more. Hope that helps!

@Christian Bors great post!

@Lise Engel  That's a good blueprint for you to follow. Any REAs near you? For the most part, it takes years and MANY lessons learned to build your craft and team associated. With that said, set your goals and go after it. But dont measure your success on simply $ss when you're starting, because regardless of how good of an investor you are, you will most likely lose plenty along the way. Best wishes and get to it!

If I called their employers, called emergency contacts, called previous landlord, and everything came up fine, I would consider them with the background check you did in addition.

But then again no credit card or loan history is a bit of a unicorn, right??

I would proceed most likely and you may legally want to depending on how your application is written. Have they been disqualified by any of your criteria?

@James Andrews

Are you looking to invest in the philly area? I know a good investor/lender in that area that I'm sure would be willing to guide you and provide some good insight. PM me if interested.

@Christopher Stanis

Great advise!

@Isiah Ferguson

You have many good viewpoints here and see that your personality and reasons can really factor into where go. I personally started with section 8 but have steered away as it didn't fit the investment profile I was comfortable building. Hard to mix section 8 and non section 8 units. With that said, its all about your viewpoint and supporting team to execute with.