Good Fit
demographics:
- Typically in their mid-working years
- 25-45 years old
- Middle class
- Interested in using real estate to build wealth over time
characteristics:
- Works a full time job but is willing to put in time to explore options and get hands-on with projects
- Wants to be an investor but needs a great team to be successful
- Focused on long term success and interested in learning
- Engaged in all parts of the process out of curiosity and desire to learn/succeed
- Can be single or in a committed relationship but is willing to go above and beyond to make a better life for themself and their family.
concerns:
- Fearful of selecting a weak team and/or being taken advantage of
- Fearful of overpaying but understands value
- Doesn’t have a lot in savings but is willing to spend today to gain tomorrow
- Not sure about how to select the right home and the right partners
- Nervous about being kept in the dark—no transparency or communication from partners
how 1836pm strives to overcome these obstacles:
- Begin by determining their savings to ensure they can survive expenses to get started
- Ensure they are paying their mortgage on the correct timeline, not late because they’re waiting for rent to come in
- Suggest they buy new if they don’t have much saved for repairs. Don’t let them get in over their heads on make-ready or renovations
- Ensure they know that if they didn’t have a healthy down payment they will be betting on appreciation but could be cash flow negative
- Secure a good relationship with this client because they value and care about their partners
Dream Home Investor
client profile
Dream Home Investor
demographics:
- Mostly late in their working years
- 50-60
- Middle-Upper Class
- Works a full time job but is looking toward retirement
characteristics:
- Retirement is in sight and this investor is planning for it by purchasing their retirement home early to lock in today’s pricing and service the note in the meantime.
- Retirement is in sight and this investor is planning for it by purchasing their retirement home early to lock in today’s pricing and service the note in the meantime.
- Knows the rental payment may not equal the mortgage payment, but is willing to invest in the difference
- Wants the home they want more than the return on the investment
concerns:
- Someone will damage the home
- Maintenance on their dream home is not exactly what they want or how they want it done
- The home sits vacant or isn’t cared for
- The neighbors may think less of them for failure to care for the home
- The neighbors may think less of them for the behavior of the residents.
how 1836pm strives to overcome these obstacles:
- Make sure they understand that to be successful, they will have to differentiate between running the home as a business vs. living in it at a future time
- Communicate the concept of “Like for Like” so not to expect upgrades or custom work until they’re living in it and can update it however they want
- Reinforce that no tenant will care for their dream home like they would, but just about anything can be repaired
- Ensure they know that the more custom the home, the harder to repair and rent—and the less they will make for their investment. It’s ok to not make money but it’s not okay to be unaware
- Make sure they know they need to put significant money down on a luxury home to get close to rent meeting the monthly cost
Eager Investor
demographics:
- Typically in their mid-working years
- 25-45 years old
- Middle class
- Interested in using real estate to build wealth over time
characteristics:
- Works a full time job but is willing to put in time to explore options and get hands-on with projects
- Wants to be an investor but needs a great team to be successful
- Focused on long term success and interested in learning
- Engaged in all parts of the process out of curiosity and desire to learn/succeed
- Can be single or in a committed relationship but is willing to go above and beyond to make a better life for themself and their family.
concerns:
- Fearful of selecting a weak team and/or being taken advantage of
- Fearful of overpaying but understands value
- Doesn’t have a lot in savings but is willing to spend today to gain tomorrow
- Not sure about how to select the right home and the right partners
- Nervous about being kept in the dark—no transparency or communication from partners
how 1836pm strives to overcome these obstacles:
- Begin by determining their savings to ensure they can survive expenses to get started
- Ensure they are paying their mortgage on the correct timeline, not late because they’re waiting for rent to come in
- Suggest they buy new if they don’t have much saved for repairs. Don’t let them get in over their heads on make-ready or renovations
- Ensure they know that if they didn’t have a healthy down payment they will be betting on appreciation but could be cash flow negative
- Secure a good relationship with this client because they value and care about their partners
Eager Investor
demographics:
- Typically in their mid-working years
- 25-45 years old
- Middle class
- Interested in using real estate to build wealth over time
characteristics:
- Works a full time job but is willing to put in time to explore options and get hands-on with projects
- Wants to be an investor but needs a great team to be successful
- Focused on long term success and interested in learning
- Engaged in all parts of the process out of curiosity and desire to learn/succeed
- Can be single or in a committed relationship but is willing to go above and beyond to make a better life for themself and their family.
concerns:
- Fearful of selecting a weak team and/or being taken advantage of
- Fearful of overpaying but understands value
- Doesn’t have a lot in savings but is willing to spend today to gain tomorrow
- Not sure about how to select the right home and the right partners
- Nervous about being kept in the dark—no transparency or communication from partners
how 1836pm strives to overcome these obstacles:
- Begin by determining their savings to ensure they can survive expenses to get started
- Ensure they are paying their mortgage on the correct timeline, not late because they’re waiting for rent to come in
- Suggest they buy new if they don’t have much saved for repairs. Don’t let them get in over their heads on make-ready or renovations
- Ensure they know that if they didn’t have a healthy down payment they will be betting on appreciation but could be cash flow negative
- Secure a good relationship with this client because they value and care about their partners
Eager Investor
demographics:
- Typically in their mid-working years
- 25-45 years old
- Middle class
- Interested in using real estate to build wealth over time
characteristics:
- Works a full time job but is willing to put in time to explore options and get hands-on with projects
- Wants to be an investor but needs a great team to be successful
- Focused on long term success and interested in learning
- Engaged in all parts of the process out of curiosity and desire to learn/succeed
- Can be single or in a committed relationship but is willing to go above and beyond to make a better life for themself and their family.
concerns:
- Fearful of selecting a weak team and/or being taken advantage of
- Fearful of overpaying but understands value
- Doesn’t have a lot in savings but is willing to spend today to gain tomorrow
- Not sure about how to select the right home and the right partners
- Nervous about being kept in the dark—no transparency or communication from partners
how 1836pm strives to overcome these obstacles:
- Begin by determining their savings to ensure they can survive expenses to get started
- Ensure they are paying their mortgage on the correct timeline, not late because they’re waiting for rent to come in
- Suggest they buy new if they don’t have much saved for repairs. Don’t let them get in over their heads on make-ready or renovations
- Ensure they know that if they didn’t have a healthy down payment they will be betting on appreciation but could be cash flow negative
- Secure a good relationship with this client because they value and care about their partners
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