All Forum Posts by: Stephen Morales

Quote from @Josh Otero:

Hi, my name is Josh and I'm a property manager in Los Angeles. I have a few clients and I wanted to know what are some methods of getting more clients. I go to networking events, I'm on websites such as thumbtack, working on SEO and reviews to appear higher on Google , have posted flyers in parking lots, and am currently building up the social media pages. 

Yes, word of mouth will expand business, and I want to know if there are other ways that I may not know of that can expand my business. I would love to hear the input of the BP community. Thanks.

 I used to own a PM company for a couple of years before selling. All of my clients were from me helping them find opportunities and then offering my PM services after. Slowly grew from there and ended up selling it after I got spread too thin trying to keep up with management and my other businesses. If I was looking to really scale back then adn knowing what I know now I would definitely consider building a list of portfolio owners in the areas I manage in. 

Coming from the wholesaling side where our users pull cash buyer lists, I can see how you could include certain criteria such as them having 5+ properties in their portfolio which would reflect an owner that may have PM needs. You can even check to see when they purchased their last property to see if they're still active with additions to their portfolio. 

You're doing all the right things as far as inbound strats go but I think if you can perfect and outbound strategy and call those kind of owners you can see some serious success and "outwork" your competitors. 

Quote from @Yannick Tremblay Martinez:

Thank you for your quick reply, how is the Land wholesaling game in the USA, is that oversaturated too in your opinion, what are your insights?

 Land wholesaling is starting to get more and more popular over the past couple of years. There definitely is a lot of opportunity still, especially for those well connected and know the space. 

Quote from @Crystal Alz:

Hello everyone, as the title mentions, I'm interested in learning more about purchasing tax delinquent properties in San Bernardino County. I was able to go to the assessor's website and find a list of upcoming properties that will be auctioned off in May. I just have a few questions on the process, and it would be great to connect with someone who's already gone through the process.

Questions in mind:

1. I know the starting bid is usually the total delinquent property tax, but what other costs should I be considering? Will I need to do research on whether there's an existing mortgage that I'd need to pay off as well? Will all potential costs such as liens, be publicly accessible through the county website?

2. For those who've attended, how many other bidders are there? Do bids usually come in at close to assessed value or just past due taxes?

3. I'm guessing all properties are sold as is and there's no way to inspect prior to buying? and all research should be done online prior to bidding.. The auction is to be set online.

4. Does the 5k deposit go towards the property if you end up purchasing?

5. What are some tips I should use to prepare for a potential purchase?

 1. I know the starting bid is usually the total delinquent property tax, but what other costs should I be considering? Will I need to do research on whether there's an existing mortgage that I'd need to pay off as well? Will all potential costs such as liens, be publicly accessible through the county website? You need to do research on potential liens that are on the property. Most counties have a website where you can check liens and/or unclosed permits.

2. For those who've attended, how many other bidders are there? Do bids usually come in at close to assessed value or just past due taxes? Dozens in my county and it's all online.

3. I'm guessing all properties are sold as is and there's no way to inspect prior to buying? and all research should be done online prior to bidding.. The auction is to be set online. For my county it's as is buyer BEWARE. 

4. Does the 5k deposit go towards the property if you end up purchasing? yes, but keep in mind most auction systems require you to have the full payment in cash the day you win the auction before EOD or you forfeit your deposit.

5. What are some tips I should use to prepare for a potential purchase? Wait until a day or two before the auction do build a list of properties that you wish to bid on. Many auctions are redeemed up until the day of closing and we have lost deals when the owner would redeem them the day of auction even though we won it already. 

Quote from @Yannick Tremblay Martinez:

I am a Canadian Land Investor and get my acquisitions by cold calling, Tax Auctions and Pre tax. The only issue about my model is that in my province there is a 1 year redemption period making the process slow to make money, but atleast there is much less competition.
Now ive been studying Tax Deed investing in the USA because it seemed faster if you have capital, but my worry is that it may be too competitive.

My questions are:
Is the current market oversaturated for online auctions? 
Is there any deals to be made as they say 10-50 cents on the dollar or is that a long gone dream?
Is over the counter tax deed investing worth it aswell?
Is there alot of volume allowing for deals to be made or are you getting outbid by everything and everyone?

I was looking at a few states past auctions and everything was way overbid the assessed value so that discouraged me a bit but maybe im missing information?
I would love your 2 cents on this.

In my area, Tax Deed auctions are extremely saturated. Especially with the increase in investors of the years and the fact that most auction don't require you to be there in person to bid on auctions. 

It used to be amazing there was always opportunity and there were margins like you're looking for but not any more. If you're lucky you can get something at 60% value once or twice a year. Most of the time people are bidding up to 80%+ of value. 

It's much better to find the deals off market before they go to auction. 

Quote from @Francis Bernadel:

Good morning everyone!

Thought I'd throw myself to the sharks and see if I can swim with this post lol. Reviewing what I've learned online and actually put it to use on a real property. Searched around my local market and found one to practice on.

Subject Property

• Duplex
• Bed: 9
• Bath: 3
• Sq Ft: 2,584
• Built: 1945
• SOLD AS-IS (meaning it's likely distressed!)

Using Redfin, I followed the steps laid out for me, funneling sold properties nearby in the last six months with similar bed/bath and square footage, built around the same year/decade. Found these two properties.

Comp 1

• Sale Price: $1.35M
• Bed : 7
• Bath: 2
• Sq Ft: 2300
• Built: 1930

Comp 2

• Sale Price: $1.34M
• Bed: 7
• Bath: 2
• Sq Ft: 2300
• Built: 1930

The average price per square feet was $585. Multiplied that by the subject properties square feet (2,584) to get an estimated ARV of $1,511,640 or $1.5M.

How did I do? Were the properties similar enough? I appreciate any criticism.

PS.

Things I didn't mention that may be important:

• Both comps have finished basements and garage space
• Both comps are duplexes
• For the subject property, the description mentions each floor has "3 bedrooms, 1.5 bathrooms, updated kitchens with ample counter space, modern appliances, and generous living areas filled with natural light... separate utilities (2 gas, 2 electric meters)"

That last part makes me think this maybe a potential Triplex in disguise.

What are your thoughts?

I think overall you did a really solid job. I would try to find at least one more comp if possible and expand your distance a bit to see if you can find it. Make sure to compare rental comps as well. Sounds like it's just a good sized duplex which justifies the higher ARV. 

Quote from @Zach A.:

So how is everyone finding distressed properties in 2025?

- Any luck finding deals on the MLS?

- Any luck with direct mail? 

A lot of the information I'm finding on here when searching is very outdated. I have a limited marketing budget of about $5k and need to make every dollar count. I work full time so I don't have a lot of time to cold call and door knock

 $5k is a decent start for marketing and should provide you with at least a  60-day runway to generate a deal or 2 to get started. 

I would look into recruiting 1 solid VA as a full time caller. I would also look to make list of targeted sellers (10,000+) mix with high equity, and some distress indicators for them to reach out to.

If you go the mailing route you need about 60-90 days to start seeing results and will pretty much take up the amount you have to invest in that time frame. 

Are you looking for a property management software? Or are you looking to find portfolio owners that you can reach out to and earn their business?

Hey @Jeffrey Bolivar

Welcome! Awesome to see that you have done your homework and looking to get started on getting your first deal. I would be happy to get you connected with a good friend of mine who does deals in OH. Feel free to reach out and I can share his info with you. 

Quote from @Marisa Opp:

Hey everyone as the title says I’m new to the world of real estate investing. I’m looking to learn as much as I can and prepare to make my first out of state investment. Looking for whatever resources or tools (YouTube channels , books podcasts) and people to talk to that would be willing to teach. I’m eager to learn.  Thanks in advance all! 

 Welcome to BPs Marisa, 

Can I ask which method you're looking to get started with? Might be able to point you in the right direction based on that. 

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