All Forum Posts by: Rory Goff

Great responses, thank you.

@Zachery Buffin - Advertising. I'm been thinking about that a lot and it seems that I would have to get my leads from real estate agents, and that may be just a tad difficult :) I'll look into the wholesale concept some more. Thanks.

@Don Konipol - In my fantasy business idea I'm not "representing" the buyer, I am finding suitable houses for them and reporting to them on suitability and condition. But, I get your point. It could be seen as representation and so I would be seen to be acting as a RE agent. Thanks for the heads-up.

Another brilliant idea bites the dust :)

@Account Closed - Interesting idea. I'd like to learn more about it. Thank you for sharing.

I'm not looking to be a zillow-like website. I was thinking about working in-person directly with the buyer to find what they are looking for, acting as an intermediary between the real estate agent and the buyer.

Think house hunters (like on TV) but actually listening to the buyer, and facilitating the search. A lot of houses get sold before they hit the public internet. It would be important to set up relationships with RE agents.

This may be wishful thinking, but you can't see anything with your head in the sand.

@Chris Mason - Interesting idea. I'm not often found in a hot tub, but I'm sure I could find an equivalent. What do you mean by the term "lender". Do you mean becoming a loan broker?

Hi, I have purchased and absorbed several of the books and other resources offered by BiggerPockets, and combined with my personal preferences and abilities, have come to some conclusions. 1 - I am not interested in selling. 2 - I am not interested in being a landlord. 3 - I like analysis and research. 4 - I don't have much money to invest. 5 - I am interested in homes and evaluating them. 6 - I wish to be self-employed in my fast approaching retirement.

First thought is that I might be in the wrong group, or asking the wrong forum :)

So, I have been casting around for a business idea that fit the conclusions and was related to real estate. Here is my idea, and I would greatly appreciate any comments or advice (including suggestions that I am 2 bricks short of a wall).

Can one make a business out of a home finder service? I would be targeting an upscale area that I know well, that is full of vacation/summer/retirement homes. My mother lives in the center of that area, and out of 7 homes on her street, she is the only full time resident! I would expect to charge a flat fee, with perhaps time or quantity restrictions.

The idea is based on several assumptions: 1 - people looking for such a home may be far enough away that it is difficult for them to spend the time on-site to search. 2 - real estate agents are eager to sell their own inventory and may not pay a lot of attention to the buyer's wishes. 3 - buyers would be willing to hire someone to facilitate the search. 4 - buyers want help from someone who listens and acts in their best interest.

I don't want to represent the buyers in any legal sense. I want to find several homes that fit their criteria, schedule showings, and offer observations (not advice). I would provide photos, videos, local information, distances to beaches, towns, etc. One other wrinkle I am exploring is to become licensed as a home inspector, allowing me to (perhaps) offer an unofficial home inspection report as part of the home finder service.

Out to lunch, or onto something?

Thank you for the welcome and encouragement. 

Hi, Rory Goff here in the bustling metropolis of Sharon NH (population 395 - not a misprint). Boston is only 1-1/2 hours away, but then everything seems to be at least 45 minutes away.

My business partner and I have some small experience with real estate investment, and a little success, but would like to take the next step and build a real estate based business that will take us into retirement. We are in our early 60s now, and would like to avoid having to eat cat food when we are 80+. 

We are both successful small (tiny) business men working as consultants in mechanical industries. I own a fire sprinkler system design company, and Norm owns a automobile repair shop. And, yes mechanics are more like consultants every year :) We have been independent businessmen since 1984 or so.

I have a condo that my wife and I rehabbed and then missed the seller's market, so it is being rented out at about breakeven. Norm has a single family rental, and a small 2 unit apartment building with a commercial space. That's it. We'd like to get bigger and better!

That's where Bigger Pockets comes in. I looked at a number of "supportive" groups/websites, and nothing comes close to Bigger Pockets in terms of information and interaction. The price is very reasonable as well!

Our target markets will probably be 1- small apartment units, 2- trailer flips, 3- vacation rentals; in that order. Our immediate needs are to learn the buying and evaluation process more completely, and to understand financing better. We both have been at the erratic mercy of banks too many times to think we have all the answers.

Questions, suggestions, ideas, are all welcome. We are glad to be here.

I have been self-employed as a consultant since 1984. I have had maybe 3 months of slow business since then. I believe that there are two main reasons why my customers come back, and why new ones constantly appear. I do no advertising.

1) I do good work.

2) I respond to every communication from actual and prospective clients within 24 hours. Actually, I usually manage same-day responses.

Responsiveness is absolutely vital to a successful business. You don't have to have an immediate solution. Just calling back to say "I am working on it." can keep a client or make a deal.

Thank you for bringing these points up. They apply to any and all businesses.