All Forum Posts by: Ryan Evans

While you're in the learning/networking maybe phase see if you can get a job helping out in some trades type work with an investor who flips properties instead of washing dishes.  Painting or something similar. They can show you the ropes, you can provide some value and even make some money for yourself. Just always keep learning as you go! 

Nah don't bother. As with most education, you'll never use 90% of what you learn in the realtor course and zero of it is investment related. You don't even really get into the important details of contracts which would be the only helpful part of formal realtor education anyway. 

Having a license can help you see properties the second they hit the market and that can sometimes be an advantage, but there aren't any huge advantages otherwise. Except if you've got an easy couple of sales from your network that will pay for your license fees and make some money. You don't even need an agent as an investor. 

I got my license after investing for a while and moving to Ohio. But really only because I had so many people that I was already advising on buying investments and I could turn them into easy clients to make a few bucks here and there. 

I never ask for buyer's agreements and they're meaningless anyway. You can back out at any time. Though, I don't just give up my contacts to some new client at the drop of a hat either.

The reason being, most new investors/clients that reach out and want all my contacts never end up buying property. If someone already owns property or is actively buying then I give out names. Otherwise, they're going to call all my contractors and expect them to go out to properties and give free bids. They're going to call my attorney and try to pick his brain for an hour. They're going to call my PM recommendations and take their time up as well. 

None of those are bad things, but if I gave out referrals every time I was asked, then all of my contacts would have a part-time job fielding calls from people who 9/10 times don't buy anything. That makes me look bad and then my relationships get ruined. That's probably where your agent is coming from. 

You can find your own lender up front. As for the inspector, PM, etc., those can always come later. She might not be the best agent for you, but be sure to look at it from her angle as well!

This is going to sound harsh but your expectations are way off track. Sure, you should be working with an investor-focused agent, but don't expect them to do your job for you. There are so many out-of-state investors who don't take the time to do their own homework and there is no shortage of investors who know exactly what they want. That means the latter group are the people who are going to get the deals.

If you don't know which neighborhoods you're targeting by now, then that's on you. It sounds like you never had the conversation about what your criteria are and how you can make the most of the weekend. That's a five-minute conversation that you should have had upfront with your agent. Then, you could have been analyzing deals to see which areas fit your criteria and make the most of the trip by only looking at the most relevant properties.

There are too many active buyers who know exactly what they want to buy and when it comes available they buy it immediately. If you want to be one of them you've got to do your homework! 

As @Daniel Kramer said, you'll cut down your buyer pool quite a bit so only bigger investors will consider it as a full package. Even more so because you're in three different cities and Ohio is already so hit or miss on a micro scale. There are very few investors with knowledge of all three of those markets. 

Maybe consider selling the Toledo properties as a package and then the other two properties individually to maximize your reach. 

I’ve never had an issue renting because I can be flexible and invest with a bigger amount. 

My last landlord said I was his best tenant ever because landlords make the best tenants! 

Can you move it in a hall closet or somewhere less intrusive? It will always be an issue in the living room. If not, I’d go baseboards and price it so the electric bill won’t be a big factor. 

@Pete Storseth it's great that you're taking action. It's more than most do. Though, the deal you're describing has a lot of moving pieces and if something goes sideways you're in for a world of hurt. If you seller finance to someone and they default then you have to foreclose on them while keeping up your payments. That could take a year or more and it's likely you would end up sued by the original seller and going bankrupt in the process. 

You can be creative by keeping it simple rather than getting more complicated. As for approaching partners, you have to know how to sell and have a solid strategy. I've not had a stable income and have bought ten units using creative financing and very little of my own money. 

Start by asking how you can be of value. If you want to learn the ropes and make some cash I'd find a local flipper and work their rehabs in your free time for money, experiene, and they'll likely partner with you if you prove your worth. Real estate is all about finding your value! 

Since when are government agencies known for their business sense? haha

Aside from what the other have said, your financing option is cash. Period. It can be yours or your friends/family’s, but banks don’t lend on this kind of thing and it’s too cheap to do hard money. 

What you’re describing is probably the riskiest strategy one can take starting out so I’d leave that to the pros. You’ll learn enough just through the process of doing an easy turnkey or light rehab. Good luck!