All Forum Posts by: Tim Ryan

James, in my long years of experience, I rarely see people making money in wholesaling as the process is full time and full on. It's not for everyone. The whole idea that "it's a great place to start because you don't need money or credit" is hogwash. It's a business and the biggest problem I see people make is to treat wholesaling as a side gig. I believe it takes a specific type of personality to make wholesaling a success and a program can't teach that.

I'm not against paying for education and coaching. I've paid tens of thousands over the years and it has paid off very well.

I just would not pay for wholesaling education. Wholesaling is the hardest real estate strategy.

Oh dang. lol.

Favorite line "you could see a face in the mirror"

Hmmmmmmmmmm

Hi Shivani,

There are a lot of concepts out there about how and where to invest out of state. The best advice I have for you is to find a growing market. Let that be the first priority every time you look for a market. Seems obvious? Apparently it is not as I talk to many investors who invest wrong out of state. Going into the same markets everyone is talking about and investing in often is not where I want to be. Have you read the book Blue Ocean?  It's about whether its best to do business with tons of competition, or little competition. Little is better of course. But then you combine this with a growth market and Bang! you've got a winner market. I invest like this and to answer another of your questions; I buy with realtors often and many times on the market properties. So, you don't have to talk directly with an owner to find a deal. I can prove this will many current deals I've done.  Bottom line is to focus more on the exact location you will be working in and have good reasons for it, then the deals will come.

Hi Victor. I live in LA also and I am building many ADU's (contractor). And I also invest in rentals out-of-state. Here my thoughts: the deal is very decent on numbers, considering the land is free. Hard to get $3500/mo from a $275k investment in Cali!

Going forward depends on your living situation. I would not want renters in my backyard. My wife and I wouldn't have done it when raising kids and now that they are out of the house, we still wouldn't.

But we love rentals.  In your case, I would buy rentals out of state.  I would trust real estate way more than the stock market.  The key is to invest in the best markets in the US - best meaning growing (not already grown).  

More I can tell you about this. We should get a coffee since we are close. My daughter lives in Redondo.

Terra, in my experience you are correct if the investment is a SFR or small multi. But when you get over 30 units it is predictable because you cost all of those expenses you mentioned in. So I guess if you want more predictability, go bigger.

Hi Damir,

I am in Los Angeles. What are looking to do in real estate. If you are in town, let's get a coffee and collaborate.

Likely has about 40% (0r more) in expenses. So the NOI around $72k = a 4.8% cap rate. So, you are correct Ross to question this. Just keep in mind NOI is after expenses and before mortgages.

cool Luna,  When you are ready to buy rental properties for investment, we will be here for you with your questions. 

 Robert, yeah that's good numbers on your triplex's.  Love it!