All Forum Posts by: Steven Foster Wilson

Hi Dominic, I agree with Eliott. It is advisable to attend your local real estate networking events, meetups, and conferences. These events are a great way to connect with other real estate professionals and investors, including wholesalers. Check for Social Networking platforms, you'd mostly find them in groups that you can easily join as many of them are using social media to market their properties. Hope this helps.

Hello Heather, it is so nice to hear when people are starting to jump in on their journey to real estate. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. Absorb the most information as you can on that Bootcamp. It'll be essential on your journey. All the best!

Hey Doris, welcome to BiggerPockets! First of all, congratulations in taking the first big leap into your real estate journey! Here are some questions you might find useful when looking to invest in real estate through seller financing.

1. The purchase price of the property
2. The Downpayment required for seller financing
3. The interest rate on the seller-financed loan
4. The length of the loan term
5. If the loan fully amortized, or if there is a balloon payment due at the end of the term
6. The monthly payment amount
7. The annual insurance premium amount
8. The annual property tax amount
9. The penalty if you pay off the loan early
10. The condition of the property
11. The average market rent in the area
12. The vacancy rate in the area
13. Check if there are any zoning restrictions or other legal considerations you should be aware of
14. Find out the typical closing costs associated with the transaction

Always remember to do your due diligence and conduct a thorough analysis of the investment opportunity before making a decision. All the best to your real estate journey!

Hi Alicia, welcome to BiggerPockets! It's important to understand the potential risks and challenges involved in STRs. Here are some things you should consider:

1. Research your local laws and regulations - Many cities and municipalities have specific rules and regulations governing short-term rentals. Make sure you understand the local laws before you start listing your property.

Take Ohio for example, here are the STR regulations in this state: https://www.columbus.gov/str/

2. Understand your target market: Consider who your ideal guests will be. This will help you determine what type of property to buy and how to market it.

3. Choose the right location: As with all other real estate properties, location is key in the STR business. Look for areas that are popular with tourists or have a high demand for short-term rentals.

4. Invest in the right amenities: Having an STR property, this is mostly dependent on good reviews, it's important to provide a comfortable and well-appointed space. This may include amenities like great internet service, a fully stocked kitchen and comfortable sofas and beds.

5. Work on a solid pricing strategy: Set your prices based on seasonal trends, market demand, and your own expenses. A property manager will be able to help you with this. You could also use some pricing tools available online.

6. Plan for maintenance and cleaning: Consider hiring a cleaning service and a handyman or contractor to handle any repairs or upgrades.

Lastly, be prepared for the unexpected: There are risks involved in short-term rentals. It is always best to make sure that you have adequate insurance coverage and a plan in place for dealing with any unexpected issues that may arise. All the best!

HI Jahannes, happy to see you start your journey! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hi Gee, welcome to BiggerPockets and belated happy birthday! This is surely the best place to start networking and learning.

Time is a very valuable thing, Over-analyzing things can lead to wasted time, missed opportunities, and lost productivity. Great job in overcoming it. By taking action, you can make progress towards your goals and use your time more effectively.

I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hi Chris, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hi Kamran, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hey Michelle, I have a list of PM's, contractors and lenders that have helped several of my investors when acquiring properties. I personally have 8+ units in Cleveland and more in Columbus and my team primarily helped me to make the managing of these properties easier. If you need to find a good neighborhood to start on, feel free to reach out. All the best!

 My guys drink corona on the job, but typically on Fridays and towards the end of the day. I have no issue with it as long as they get their work done. Hell Ive even bought them beer and chipotle before.