All Forum Posts by: Stephen Morales

Hey Brent, 

It normally is a tax advantage if you have two houses on one lot. 

When it comes to resale and financing though it may be trickier since some lenders prefer properties that have their own separate parcels and a traditional buyer may see it as a downside when you go to sell. 

You may need a specialized insurance policy since it's technically one property but two structures. 

If you plan to rent one or both properties, separate utilities and addresses may end up being a hassle if they're not already in place. 

You gotta also keep in mind Pittsburgh's zoning laws which I am not familiar with. Might want to give them a call any additional questions you may have about use or modifications. 

Hey Anthony, 

You should link up with some wholesalers who can bring you off-market deals so you’re not stuck doing all the hunting yourself in addition to direct mail.

Since you're busy, that's an easy way to get access to solid opportunities without the extra work. If you're leaning toward appreciation, Jersey could be a good play, but if cash flow is more your thing, grabbing some SFH or smaller multifamily properties in the Midwest or here in the SE with cash could work well too. Either way, wholesalers can help make your life easier while you keep crushing it at your job.

If you want to invest in an acquisition team you can do that as well and have VAs do the work for you!

 Anytime! Feel free to reach out if you need anything. 

Hey Aaron,

Very impressive resume! That's awesome that your long term goal is getting into CRE multifamily. With the current market conditions in the multifamily space there is definitely going to be much more opportunities coming soon!

 Hitting the nail on the head, per usual!

You can use data services and there are some great ones that are suggested throughout BP.

You just have to look hard enough! :)

I would target pre-foreclosure deals and high equity deals to find a property that you can get under contract and assign fast. Other motivated sellers would be absentee owners that have owned the property for over 10 years, Tax liens, expired listings and probate cases ( although DO NOT expect a quick sale with probate deals)

Using these same services, we like to suggest filtering cashed buyers based on the size of their portfolio (3-5 properties min) a portfolio value of $1M minimum, Cash buyer, and one that has purchased in the last year which shows that they may be actively looking for more opportunities. You can normally modify this as you see fit. 

You can also attend local REIA events and join social media groups that have investors buying in your area.

Hope this helps!

Hey Victor, 

I personally have never done a coaching program and all of my knowledge has been from when I took the RE Licensing course 10 years ago and REI and wholesaling came from personal experience and networking with dozens of peers over the years.

I would be very cautious about spending thousands of dollars on a course unless they are reputable and have verifiable results. Like some have said already $10k-15k can be used towards your first investment or marketing for up a whole year with a VA cold calling for you to find off market deals.

Hey Joshua,

Welcome to BP! I think you made the right call to wait. The market is definitely shifting, my market has more active listings than 2008 and spec home inventory is also creeping to to 2008 levels. Looks like we're on the precipice of a full blown Buyer's market. Time will tell but either way there will be opportunities!

Hey Yosef,

I would definitely look into finding off-market land that fits the criteria you're looking for. There are various data sources and platforms out there that can help with this, some offering free searches with a bit of digging ;). 

You would still need to skip trace to get their owner information in order to call or email those owners. 

You can also do Mailers which can get pricey and you need to be consistent, SEO which a good amount of time before you see results and PPC ads which can be very expensive but also effective. 

I would also look at reaching out to local realtors in your areas of interest that specialize in land deals to send you new listings before they post them. Don't forget about attending REIA events!

Best of luck!

Welcome to wholesaling! It's great that you've been learning, but nothing beats hands-on experience. The best way to get started is by networking with local investors, wholesalers, and real estate meetups in your area. Look for REIA (Real Estate Investor Association) meetings or local Facebook groups where active investors share deals and strategies.

One of the quickest ways to learn is by offering to help experienced wholesalers with tasks like cold calling, driving for dollars, or handling follow-ups in exchange for mentorship. I used to help new wholesalers by allowing them to do my cold calling for me and providing a dialer system. There are also some larger wholesaling companies that would even pay you a meager salary to start however most are commission only. I would only really suggest this if you really need your hand held. 

At the same time, don’t wait for someone to teach you—start taking action by practicing running comps, talking to sellers, and making offers, even if you don’t have buyers lined up yet a good deal WILL move on its own. There are also sites where you can pull a list of targeted off market properties to help get you going on your prospecting. 

But If you’re serious about getting into the business, focus on providing value rather than just asking for help. Also, I would highly advise against any overpriced courses or gurus trying to sell you on courses or programs that costs thousands of dollars. You can literally fund a marketing campaign for MONTHS instead of paying for one of these.