All Forum Posts by: Steven Foster Wilson

Hi Dena, finding a partner in real estate can be a great way to leverage your skills and resources, share risks, rewards, and achieve your goals more efficiently. Here are some tips that you could use to find a partner on your real estate journey:

1. Identify: What are your goals and objectives? Are you looking for a partner who can help you find deals, finance them, manage them, or provide other skills and resources?

2. Networking: Attend local real estate events, join real estate investment groups, and connect with other investors and professionals in your area. Let them know what you're looking for and what you can offer. This way, they'll know that it's not just a one way street.

3. Connect with investors and Brokers: Real estate brokers and agents are often well-connected and may know of potential partners or investors who are looking for opportunities to invest in real estate. You'd find this very beneficial in your search.

4. When you find a potential partner, it's important to be transparent about your goals, expectations, and abilities. Discuss the details of the partnership and ensure that you've established clear expectations. Create a written agreement that outlines each person's roles, responsibilities, and expectations. This can help prevent misunderstandings and ensure that everyone is on the same page.

5. Take the time to evaluate potential partners thoroughly. Look at their experience, track record, and reputation in the industry. Meet with them in person to get a sense of their personality and work style.

Hope this helps and all the best!

 I cold call everyday to try to find my clients off market deals. I would try to find someone like that who you can build a relationship with. Getting into real estate you want to build a team which would be realtor, property manager, contractor, and bank relationships. https://www.biggerpockets.com/... This is an article for out of state investors although I think if you want to keep growing you have to set your systems in place. 

I think you should consider the Ohio markets. Honda has invested $3.5 Billion in Fayette County for a plant that will make batteries for electric vehicles.

https://www.dispatch.com/story/business/automotive/2023/02/28/ev-battery-plant-in-fayette-county-to-employ-2200-workers/69933524007/

According to Licking County Auditor records, Amazon Data Services Inc. Bought 392.11 acres of land ($ $116,653,320.) on the west side of Beech Road and straddling Miller Road on January 17, 2023.

Intel has invested $20 billion initial investment in two fabs (short for fabrication plants; they typically produce silicon wafers), with construction beginning in late 2022 and the facility expected to open in late 2025.“At full buildout, the total investment in the site could grow to as much as $100 billion over the next decade, making it one of the largest semiconductor manufacturing sites in the world,” reads Intel’s press release. https://www.theverge.com/2022/1/22/22895447/intel-ohio-chip-fab-manufacturing-cpu-process

 Analyzing deals comes with practice. I like to use this calculator when running numbers https://www.calculator.net/ren.... I think you have to know how much work is it going to take to either flip it or rent it out at market rent. What area is it in? What are you going for appreciation or cashflow. I just saw a house here in Columbus that was in a hot location but with the price they were asking and how much work it needed it was a hard pass. 

I recommend you find someone to mentor you to help grow this skill. I would ask someone who is doing what you want to be doing. Ask multiple people! I always like to try to meet up with at least one person a month. 

 That would definitely work! I would ask them hands down to sign on with you. If you put the money down and manage it then I think that is a good deal. I would set up a partnership agreement and why it would benefit them to partner with you in doing this. That is what I did with my family when I was starting out. Now my parents are begging me to buy more properties with them. 

 Sure thing! I'd love to help out whenever I can. Just sent you a connect request. 

Hi Collins, welcome to BiggerPockets! This is surely the best place to start networking and learning. First things first is, you would want to grow your network to have a bigger picture of the real estate here. You may look on Facebook/BiggerPockets for different events, and like you mentioned, you'll eventually be able to find a mentor doing what you want to do, and get started with your real estate journey! 

There are a lot of markets to choose from if you're looking into better deals but before jumping in on this, make sure you have the right systems in place. Get a professional project manager, build a reliable team and get proper education of the market you're investing in.

The risk will be there but you'd be able to lessen it. The key is to make sure that you have those systems in place.

You can learn more from this link here: https://www.biggerpockets.com/blog/core-four-real-estate-team

All the best!

 Hi Lauren, welcome to BiggerPockets! I must say that I am excited for you as it's one of the first strategies I did when I started off real estate investing. 

House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place. I'd say keep in mind a few things for starters:

1. Work on your numbers - be sure to calculate potential cash flow and ROI. Make sure to factor in all expenses such as property taxes, insurance, repairs, maintenance, repairs and potential rents.

2. Type of property - Choosing a triplex and fourplex is ideal but a duplex will also work out. 

3. Make sure to properly screen your tenants at all times. Don't rush into things to secure your investments.

Lastly, be a good landlord and build a certain relationship with your tenants by ensuring that you address all issues and concerns in a timely manner. A good landlord will always keep a happy and loyal tenant all the time. Hope this helps and best wishes to your real estate journey!

Hi Peter, welcome to BiggerPockets and congratulations on your decision to start investing in real estate! Turnkey is a good real estate investment and as someone who has done it, I'd like to share some basic info with you that I used when I started:

Things for you to do before the start of your turnkey investment:

1. Before you invest in any turnkey property, it's important to do your research and understand the market you're investing in. This includes understanding the demand for rental properties in the area, the cost of property, and the potential for appreciation.

3. There are a lot of turnkey providers out there, so it's important to do your research and find one that you trust. Look for a provider with a good track record, a strong reputation, and a team of experienced professionals.

3. Before you invest in any turnkey property, make sure you get everything in writing. This includes the purchase price, the rent, the property management fees, and the exit strategy.

Also a few things that I need you to consider:

1. Turnkey properties are within market value if not more. They are typically more expensive than traditional properties, as the seller or turnkey provider has already invested in renovations and repairs. This can make it a bit challenging to achieve a positive cash flow from the investment.

2. When you invest in a turnkey property, you have less control over the property's condition and management. This can be a potential challenge only if you want to be more hands-on with your investment.

Overall, turnkey investing can be a great way to get started in real estate investing, but it's important to be aware of the potential challenges before you invest. All the best!

 Hi Oliver, welcome to BiggerPockets! To find meetups and private lenders as a real estate investor, it is important to explore options such as Real Estate Investment Associations (REIAs), online platforms like BiggerPockets and Meetup.com, social media groups (Facebook), local real estate investing seminars, and networking through the Chamber of Commerce or business groups. Networking, both online and offline, is key to connecting with fellow investors and discovering potential private lenders.

Hope this helps and best wishes to your real estate journey!