All Forum Posts by: Trevor Naumann

in the realtor world i find that virtual staging can be very beneficial for getting potential customers through the door. The only thing being that if the picture looks bad it is bad so don't do a cheap job with it. You would be better off getting some actual staging furniture in their and then "Sprucing" it up with some digital art or well hidden virtual pieces. I also have success with providing both photos. Meaning one with no staging and then the next with staging and i usually write staged on the bottom to try and give the potential customer a good idea of how nice the space could look. I hope that helps

No its not normal. Also congrats. What's your next move gunna be? 

Personally i think there is no substitute for trying to create a great business first. It will become much easier to invest your money without the stress of eating, housing, having fun etc. Because, you have decided to get into real estate the next logical step might be in starting a business/ getting a job that will support your knowledge and understanding of real estate investing. For example. I am an agent who works almost exclusively with investors. I used to analyze deals before being in the industry but now finding and analyzing deals is one of the most important parts of my job. Thus i have gotten 1000% better at it. After my clients buy a building my relationship with them allows me to see first hand their experience in managing the property. In many ways i am with them for the wins and loss's without having to spend my own money. Then when it comes time to sell i am there to help them through that process. If they are flipping a property i likely helped them comp the home on the purchase and on the sale. This has helped me learn the process of flipping a home again without losing my own money. 

The best part is that i am saying this only from the perspective of being an agent and there are a ton of jobs in real-estate. You could look at fields in Title work, Management, rehabbing/construction, development, lending, deal sourcing, coaching, airbnb services, tech/software, asset preservation, Closing and so on and so fourth and have a similar outcome. 

last should you get your license? Only if your pursuing a job that requires one.

Its all mental. There is always a level above where anyone is that feels impossible to get to. I have a client who i helped buy his first SFR. He was terrified. After several more he was comfortable. Now he wants to buy a commercial Building with a partner. He is terrified again. I think this applies to more then just investing but mentally its very hard to feel like we deserve to get to the next level.

As many have already stated it depends. If the property is relatively cheep then IMO i would want a couple hundreds dollars in cashflow conservatively because the amount of equity i would be recapturing as the loan gets payed down would also be relatively low. But if your buying something over say 500K in a great market where it will likely appreciate and you are losing a hundred a month but gaining substantial equity over the long term i would go for it. Sometimes you have to lose 1 dollar to make 2 dollars. This all said i would only do this if you have a dependable income source to support the decision. 

Analyze everything available. pick the best three deals and put in an offer. The systems will be the same regardless of what you end up with so go for the deal. Its true the sfr may appreciate better and the duplex might cash flow better but this is just a stepping stone to a bigger goal right? So jump in and buy something. 

Honestly in my opinion as long as you price it to be a good deal and get it in front of enough people someone will buy it. I would get it up on the mls and then also look up other duplex-fourplex owners phone numbers and call them to see if their is a deal to be had. Undoubtedly if you have a good deal and just get it in front of a bunch of investors eyeballs somebody will want to buy it. 

outside of being a realtor in upstate New York i have also worked as a closer for a number of years and seen a ton of loan products. In my opinion the commercial appraisal is unlikely to be superior to the residential appraisal with a 2 unit property. I typically see residential appraisals as going higher then commercial. that said i agree with Andrew above. A great lender should be educating you on what the best product is. The only thing i would add is that because NY has a unique closing style local banks are usually king when it comes to the best products in the state. That said a local bank only knows what its products are and each of them will have different products so shop around. I hope that helps 

Welcome to BP. i don't work in New Jersey but if your ever interested in upstate NY reach out 

IMO the most important aspect of a great investor agent is their network. The more investors they know, help and are servicing the more opportunities they will be able to get in front of you. Obviously they need to know the strategies and the more experience they have with investing themselves the better but its unlikely an agent is practicing all of the strategies. On the other hand, a great agent is going to know flippers, multifamily owners of all sizes, short term rental buyers and more. Not to mention contractors, property managers, handymen. A great investor agent should have off market deals, mentors and more at their fingertips for your benefit.