All Forum Posts by: Vincent Crane

Over the last year, I've been saving up money for my first deal, and have yet to do one. When I first started on the site I felt that I had nothing to offer, yet. After reading the forums and listening to almost every podcast, I started posting and answering people's questions both about my market, and based on other people's experience. Because of this, and posting over 500 times now, I've had dozens of people reach out to me, to ask if I'm interested in deals, on 10+ email lists for meetups, and potential partnerships. And I've met a bunch of people already through the site. All of a sudden, deals start coming to you once you have those relationships. Even if you're a newbie, learn and post in the forums and the relationships will start blossoming, which turns into deals, which turns into profits. Jump in and do it.

2% vacancy though...?

@Mike H.

It sounds like you should be on the next BP podcast if @Brandon Turner needs some new guest prospects for the show. Being able to add that many rentals to your portfolio in this market is really impressive.

I can't believe this post has been around for 5 years and 500+ comments. Literally the biggest, most voted, and longest post I've ever seen. But I agree. Most wholesalers I've talked to are newbies and have no idea what they're talking about. Their version of a deal, is any property that's worth $40k in a D neighborhood that no one wants from the MLS.

@Matt Sicignano This is exactly what I'm talking about. People are buying deals here that will never cashflow just because they feel like they need to buy something. The areas where there are reasonable prices, are in absolutely terrible areas and thus it's not even worth investing in that case either. 

Well as interest rates go up, prices should start to slow down or drop slightly in many areas. It's crazy to me that many areas are back to their irrational 2007 peak already

@Rick Baggenstoss House hacking that triplex would be similar to what I'm looking for. I will certainly find deals, it's just surprising how difficult it's been. But I will find some, and it'll get easier as my network grows more and more.

This is awesome. your model is clearly working

True, I just wish cashflowing deals were easier to find right now haha

I rarely hear of REI success in NYC, SF, or LA. It's so expensive to invest in those areas, that getting downpayments and cashflowing just doesn't work. You can invest out of state, but locally it's going to be an uphill battle. Most of the people on BP who have built $10k per month in passive income from rentals, are in cheaper areas where they can buy houses for $60k-$120k and cashflow $200 a door per month.