All Forum Posts by: Tommy Ray

Nathaniel, let's build you for success. Real estate is a long game. Wholesaling is a super common point of entry and with your mind wide open, motivation, and dedication I present this... Who is your real estate agent, broker, partner or person you team with? You need one. They need your dead leads when you can not get the deal w/I your margins. You need their analysis, understanding of marketing, and access to the investors (especially if they also do property mgt). So-o few agents are investors, prop mgrs and HUSTLERS out there grinding. If you fish for deals w/I property managers you may have some luck. Prop mgrs are often the ones creating the motivated sellers. It happens ALOT. HOW many different ways do you haggle a deal into assignable contract form or haggle to get a deal? Do you do wraps, subj-2, lease w/option to purchase, CFD, Owner Fin, SDIRA, Owner financed 2d mortgages, Joint Venture the deal where you bring some capital and maybe help with repairs and sell and do splitsies, .... how. many different ways can you solve the problem(s) that each seller will have? They will have $ problems, title problems, repair problems, tenant squatting in house problems, real estate taxes problems, lien problems, forbearance coming due problems.... The investor minded agent will have lots of those answers within their teams. Message me there are other workarounds too but you have to plan big to accomplish anything of great significance.

Ever study glamping?

Running water/w showers, toilets, fire pit, sounds like fishing is possible....  I think you should focus on the EXPERIENCE you can deliver.  Then how do you depict it?  How do you work the verbiage to tell the story of what the experience can be like for your guest.  Will they make memories?  Can it be an austere event center where a pavilion might be needed?  Do you need to clear tent sites.  Do you need to virtually stage your land with tents, a fire, marshmallows being cooked on the fire...  Do you need to stack or spread pine needles where the tents will be set for cushioning and insulation from the cold earth beneath?  

This is something you should poll about in the different social media platforms...  think of it as advance pre-marketing.  Then use Pinterest for ideas on the looks of ideas of fire pits, grills, picnic table(s), games (horseshoes, volleyball, etc)...

Had a person run a STR out of one of my rental homes. It was a tiny 3bed/1 bath home over by Lackland AFB. He would put up to 14 people in that tiny home for graduation event on the AFB. Holistic enforcement on capacity would be nice. When he filed a permit he asked for 8 person max and got it when the state code sets a limit of 50 Sq Foot of bedroom space per person. Of course, the wear and tear was through the roof and the water heater or HVAC never seemed to perform to his liking when it is summer and you have 14 breathing, walking talking 98.6F meat-sicles in the house warming it up.

I am super excited that you have that skill set and are predisposed to move to Fl. If you look at AI and ask questions like which states are going to do well in the next 10 years in REI Texas and Florida are amongst the top. People are getting poorer quicker and wages are not keeping pace with the cost of living. That is a problem as well as an opportunity. Florida, Texas, Tennessee are all some of the states that really got population plus ups during and after covid. I love the idea of you getting your license and working with people like me. Real estate is INHERENTLY and TEAM SPORT. Whether it is the trained and licensed professional in real estate, inspection services, septic, plumbing, electrical, HVAC, etc..... we need them so organize them in your target area and jump in... But organizing those vetted people is a HUGE portion of your solution. Ever hear your network is part of your net worth?

RV parks, mobile home parks, house hack rentals and such are the way we are headed.  We need people can not SOLVE PROBLEMS and that are PERSISTENTLY MOTIVATED.  Problems are where entrepreneurs make money by mentally reverse engineering the word into OPPORTUNITY at the very beginning.  

To perk your situational awareness and switch you to economically enabled I need you to read Read the 2015 NAR Danger Report. In addition, Read up on the recent court decision about buyers agents sourcing their own buyers agent commission from the buyer. This leads to building buyers agents that are multi-deal fluent and know how to build collaborative teams that communicate. The economy is starting to shudder... Expect it to get worse soon. You need to know how to do all the different types of deals sooner than later so that you have optimized your deal conversion capabilities as MOTIVATED sellers are hitting you and your organized network you are to build. Hit me up for info if needed!!!! Get'r done!

This could be cart before the horse kind of issue.  Read the posts above and concur with inputs.  What is your plan/goal - 1 year to 50 years down the road (yep be that deliberate if you can to be that efficient in all things at all times).  Have you reverse engineered it backwards to your methods (cause you are talking about a portion of a method here)? 

Have you done you own personal assessment as well?  What are your own Skills, Knowledge, Attitude and Abilities?  Do you have a personal or professional network that you can adapt to provide the deals you want to achieve the goals you have for yourself?  For example, do you work in any form of trades?  If so, pursue local area prop mgrs.  They are sitting atop a mountain of motivated sellers.  All you need to do is be one of their service providers.  Whether it is asking the questions of the work order manager of the prop mgr or the owner when you are at the property (many multi families owner is still onsite) you can build rapport and swing a deal if you are trained....  But start back and zero if you want for me so I can walk you to your goal...

Lastly, price sensitivity hints at low problem solving, scarcity mindset, time value not worth much to yourself (well at least now), so that paradigm will have to shift if you are to become an investment juggernaut.  One of my kick phrases to mentees is price is the dollars you pay, value is the benefit you derive, and cost is price x the aggravation of a missed expectation of value.  Make holistic value buys--time, price, quality, reliability all factored in.  Its not all about price.

You need to do a needs analysis of the local area.  What is needed?  Think a bunch of local commercial real estate agents or residential agents who are in the industry talk about what is needed...  maybe.... ask around.  You need to build your team anyway--start locating your coalition of the committed. competent and collaborative. Facebook and social media can have lots of local groups that you can put your Questions to locals "what does this area need".  Look, listen, and learn.  Capitalism is all about meeting wants and needs.  You need to do a SWOT Analysis of yourself--what strengths, weaknesses, opportunities and threats face you on your journey and in between you and that community defined end state for the real estate.  Hell it could be as simple as parking, laundry and bathroom services for truckers with some self storage....  don't know NOTHING about the parcel, location, road access...  You need to understand what value it can bring and learn to leverage OPM OPC OP Competencies.. Other peoples money / credit / competencies.  Build the broadest ranges of skills, knowledge, attitude and abilities and become business lethal.  Here to help,  Get'r done.

Look in the property tax assessor record.  Get an address for the owner in Chicago.  Send a letter start the communications.  Most importantly is to have built a team to support you and your real estate journey.  Think you may need a handyman, agent, loan officer, real estate attorney, real estate inspector....  and more?  Might as well start looking for the word of mouth referrals for those now since you are going to build an empire.  Assume success.  Assume you have to work and put in the effort.  Materially participate in crafting your goal(s), your plan (working backwards from your specified goal(s).  Success is easier than you think.  Don't overthink it, be it. Here to help.  Get'r done.

35 years in the game wanting to go next level, grow myself as I grow others.  Bought Renatus education for the courseware and building upon that.  What else should be doing in terms of tech, CRM, networking, social media and marketing to have max effects on mentee locating, market identification, tenant marketing And deal finding....

I live in Texas. I invest in TN, TX, OKla, FL, SC... Oklahoma has the most potential. Prosperity Bank serves both TX / OK. They will lend on stock / ETFs / Mutual Funds. Invest in a stock or fund with a huge upside on appreciation (think AI / Robotics). Collateralize it for the down payment of a discounted buy in OK / TX. Rock solid rental while the money is in the stocks doing double duty as the principle investment as well as your down payment equivalent. Buy the rock solid rental and get your appreciation, cash flow, depreciation, principal pay down, equity capture on a discounted by and forced appreciation gain for a well targeted rehab.

I live in Texas. I invest in TN, TX, OKla, FL, SC... Oklahoma has the most potential. Prosperity Bank serves both TX / OK. They will lend on stock / ETFs / Mutual Funds. Invest in a stock or fund with a huge upside on appreciation (think AI / Robotics). Collateralize it for the down payment of a discounted buy in OK / TX. Rock solid rental while the money is in the stocks doing double duty as the principle investment as well as your down payment equivalent. Buy the rock solid rental and get your appreciation, cash flow, depreciation, principal pay down, equity capture on a discounted by and forced appreciation gain for a well targeted rehab.