All Forum Posts by: Craig Wilcox

@Aubyn Rashford, wholesaling is a great way to start, there are a lot of investors looking for deals.  However, if you are going to use an agent to get the houses under contract, you better make sure that you have an investor to close or you will be wasting their time.  Work on a buyers list by asking investors for their buying criteria.

@Aubyn Rashford, way to take action!  

Analyze everything you see. The more numbers you crunch, the more quicker you will be making an offer when it makes sense.  Share your strategy and criteria with your agent so everyone is on the same page.  

@Aubyn Rashford, 

Real estate is filled with opportunities at all levels so you don't need an "official" business plan document to get started but it sure could help for financing.

If you are just starting out, check out the free guides right here on BP.    

I am no expert but I suggest that you write down the following:

1. What do you want to achieve with the business? (goals, lifestyle result, etc.)
2. Why do you want the business? (mission, vision, values, etc.)
3. Your personal inventory (the time, talent, and treasure you have available). 
4. Who's on your team (Finance, Broker, Accountant, Attorney, Inspector, Contractor,etc.)
5. Investment type you will target (residential 1-4, multi 5+, commercial) 
6. Investment strategy you will focus on (wholesale, flip, hold, BRRRR, turnkey, etc.)
7. Purchase criteria to use for all purchases (Cap Rate, ROI, COC, ARV, LTV, sqft, beds, baths, amenities, etc.)

Then start looking for deals that fit your strategy and criteria, use the calculators to analyze, and do your due diligence.  Make sure to get the opinion of those on your team before moving forward but take action when warranted.  You can always go back and refine and/or add details to your plan.

If you are looking to make a formal business plan, PA has a nice Entrepreneur's Guide but it is not specific for Real Estate. 

Finally, if you are not the type of person that is good at answering those questions (more of an action taker than a planner), find a partner that is good at the planning and work together.  You will go much farther, much faster, together.

I hope that helps, Craig 

Winnebago Investor Network (WIN) Dinner Meetup

Topic: Goals 2019

When: Monday, Jan 7, 2019 at 6:00PM

Where: SAM'S Ristorante, Pizzeria, & Banquet Hall located at 6075 E Riverside Blvd, Rockford, IL 61114.

What: A simple dinner networking event with motivated, local real estate investors that are taking action and making a difference in their life and community. It is a casual place to meet, ask questions, share your investment tips, and encourage others with the similar interest of building wealth through relationships.

Why: “You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win.” - Zig Ziglar

*****************************************************************************************************

*A quick response post or a click of the "Attend Event" at the top of this page would be appreciated.

Hi Bob,  Try these if you haven’t already:

city-data.com

bestplaces.net

trulia.com  under the “Local Info” tab

realtor.com/research

@Justin Oliver,

Always happy to talk real estate.  Let me know when you are in town.

Justin,

The home prices are most appealing in the high crime areas which are difficult with high turnover.  The most desirable areas, for homeowners and tenants, are in the NE.  There has been some good job growth lately and demand for rentals is very good.

Do you have specific questions?  We have a good group of active investors  that are always willing to share and are also active on BP.

Craig 

Busy time of year I know but don't let daily work get in the way of planning for future rewards.

@Ernad D. @Scott Green @Kyle N. @Lloyd Fulcer @Renee Fulcer @Jason Bennett @Sally Bennett @Chris Sukala @Chad Slagle @Christopher Dumelle @Carrie Herrmann @William Clement @Jordan Smith @Shelly F. @Ray George @Carlo Michelotti @Jessica Rielly @Jayme Durkee @Debbie Mapes @Cory Villarreal @Dave Blackman @Patrick Mueller @Jason Walters @Kim Herrick @Paul S. @Joe Grieser @James Flores @Gene Ferriter @Tyler Witkowski @Justin Sheley @Jhony Molina-Ayala @James Feiden @Erik W. @Scott Krueger @Ryan Ericson @Marcus Porchia @Mike Morey @Henry Carter @Dan Pendzinski @Matt G. @Charity G. @Chris Youssi @Cj Thompson @Melissa Kwak @Edgar Marin @Joe Randazzo @Joe Sheehy @Justin Seago @Benjamin Shull @Dawnna Williams @jeff 

@Jeff Oberts @Jonathan Bond @Daniel Spranger @Laurie Bellino @Scott Wieczorek @Robert Shedden @Tim Warren @Julieann F. @Alexander Johansson @Aric Weidmann @Cory Villarreal @Ryan Sanford @Joe Grieser @Brian Nordman @Andrii Okipnyi @Guillermo Ramirez @Eric Hickenbottom @Anthony Vecchiolla @Laurie Bellino @Angie Holdcroft @Sergio Lara @Alexander Johansson

Winnebago Investor Network (WIN) Dinner Meetup

Topic: Review 2018 to plan for 2019, the best year yet!

When: Monday, Dec 3, 2018 at 6:00PM

Where: SAM'S Ristorante, Pizzeria, & Banquet Hall located at 6075 E Riverside Blvd, Rockford, IL 61114.

What: A simple dinner networking event with motivated, local real estate investors that are taking action and making a difference in their life and community. It is a casual place to meet, ask questions, share your investment tips, and encourage others with the similar interest of building wealth through relationships.

Why: “It's a good idea to review past mistakes before committing new ones." - Warren Buffett

*****************************************************************************************************

*A quick response post or a click of the "Attend Event" at the top of this page would be appreciated.

Going to try to make it.  Thanks