So what's holding you back?
Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes
So what's holding you back?
Most Popular Reply
Providence, RI · Member since 2018 · 29 posts · 409 votes
7yHaving just recently bought my first property, I know for myself what was holding me back was the fear that I would overpay, especially in this type of a market. I would get analysis paralysis and basically talk myself out of every property I looked at.
3705 Replies
- Property Manager · Palm Harbor, FL · Member since 2019 · 5 posts · 0 votes7y
@Frank Patalano
For me it’s the finance, I have enough to pay for closing costs but will be borrowing about 15K for the down payment at 15%. So paying back the 15K doesn’t leave anything for me make until I have the loan paid off in 5 years. I know I can hope for appreciation and refinance but I’m just not sure it’s worth the risk. I have found some deals where I would cash flow 85-100 bucks until the loan is paid then it would obviously jump a few hundred. Tampa is a pretty good market and I want to get in now. Thoughts?
R/
Tim
- Member since 2018 · 37 posts · 12 votes7y
@Frank Patalano for me, I am a full time student in my junior year, I work 4 jobs, and I don’t have a car so I can’t get anywhere to look at potential properties. Also I have no money and zero credit. I’m also afraid that if I did get my hands on an investment I would not have enough time to profitably invest in it. Any advice?
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Timothy Price:
@Frank Patalano
For me it’s the finance, I have enough to pay for closing costs but will be borrowing about 15K for the down payment at 15%. So paying back the 15K doesn’t leave anything for me make until I have the loan paid off in 5 years. I know I can hope for appreciation and refinance but I’m just not sure it’s worth the risk. I have found some deals where I would cash flow 85-100 bucks until the loan is paid then it would obviously jump a few hundred. Tampa is a pretty good market and I want to get in now. Thoughts?
R/
Tim
Find a partner. You might have to split the reward but you will also split the risk.
Plus you are getting knowledge that is priceless to obtain. That should increase your Cashflow.
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @LeAnna Davis:
@Frank Patalano for me, I am a full time student in my junior year, I work 4 jobs, and I don’t have a car so I can’t get anywhere to look at potential properties. Also I have no money and zero credit. I’m also afraid that if I did get my hands on an investment I would not have enough time to profitably invest in it. Any advice?
I've had hundreds of people ask questions on this post. You are the probably the first person that I don't have an answer for. I'm sure that I can figure something out.
If you want to be an investor you have to have a strength in money, time, or experience. Which one are you going to try to make your strength?
4 jobs, eh? I mean I'm already working 7 days a week outside of real estate plus I have 3 kids. Sounds similar.
What are you going to school for?
4 jobs? What would you expect to earn from all of those combined this year. It sounds like, you are doing something wrong if you have Zero money. You don't have time to spend any money. Maybe quit 2 jobs and find one that can pay you more for your skills.
You can profitably invest as long as you are buying assets.
Find a local REIA. Sacrifice time to make their once a month meetings.
Find an accountability partner. Set some realistic goals. You are not going to be looking at 100 houses in person this month. Maybe you can look at 100 online. Sounds like 1 deal will change your life.
PM me more info if want. You are in desperate need of HELP.
- Rental Property Investor · Killeen, TX · Member since 2019 · 4 posts · 0 votes7y
@Frank Patalano so far what is holding me back is purely the lack of knowledge. I'm very new to this all and just want to gain as much knowledge and insight as possible before jumping in. I plan on taking that plunge within the next six months and until then I plan on learning everything I can to feel confident in my first rental purchase.
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Danny M Volz:
@Frank Patalano so far what is holding me back is purely the lack of knowledge. I'm very new to this all and just want to gain as much knowledge and insight as possible before jumping in. I plan on taking that plunge within the next six months and until then I plan on learning everything I can to feel confident in my first rental purchase.
That's fine if you are not ready. I just don't want the same excuse 6 months from now. Set some realistic weekly, monthly, and annual goals. Stick to them.
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Vinay H.:
@Frank PatalanoMy spouse and friends think I am crazy and the market will turn down soon and crush any and all real estate investment
Vinay, Looking for an update. What did you do in the last month?
- Rental Property Investor · Davenport, FL · Member since 2013 · 285 posts · 220 votes7y
FEAR - fear held me back personally. If it weren't for my wife being willing to dive in and take a risk, I would probably still be analyzing deals :) Partner up with someone who has strengths in areas you don't and you will also have areas you are strong where they may not be!
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Account Closed:
@Christopher Rotolo Thank you for sharing. Since you are a programmer, there is a high chance that you will pick up on the data aspect of RE pretty fast. I highly suggest you look into land flipping.
Interesting suggestions
- Real Estate Agent · Los Angeles, CA · Member since 2015 · 218 posts · 111 votes7y
Knowledge, Direction and money.
- Flipper/Rehabber · Baltimore, MD · Member since 2019 · 22 posts · 5 votes7y
@Frank Patalano Financing and Capital.... any advice
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Renee Harris:
Knowledge, Direction and money.
So if you love the idea of real estate you need to be taking in as much knowledge as possible. Set goals on how much learning you plan on doing per week.
Direction- spend one month gaining knowledge and then pick one of the various aspects of real estate that you think of the best chance of being successful at. It really doesn't matter which one you pick as long as you're willing to work at it.
Money- well depending on which one you pick you might need different amounts of money. But you can also be creative or partner with others to get to that amount of money.
Good luck. Ask more questions as you grow.
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Eric Lawson:
@Frank Patalano Financing and Capital.... any advice
Question. What type of real estate investing do you want to do?
Financing and capital will be different depending on the strategy.
Also where are we talking? Seattle, Houston, Orlando, or Cincinnati?
- Real Estate Agent · Los Angeles, CA · Member since 2015 · 218 posts · 111 votes7y
Originally posted by @Frank Patalano:
Thank you!
- 7yChristi HawkinsPro MemberColumbus, OH · Member since 2017 · 237 posts · 142 votes
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Renee Harris:
Originally posted by @Frank Patalano:
Thank you!
No problem. Good luck.
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Christi Hawkins:
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
Finding a partner I consider to be a 4-6 month process.
Step 1- Find a local REIA
Step 2- Go to the first 2 meetings, network and mingle to listen and learn. Try to separate fluff from reality.
Step 3- Pick a few of the people who seem to be more active investors. Ask each of them of there is anyway that you could help them in their business. You can gain experience and knowledge by working for free/almost free.
Step 4- After you have helped them ask if they can help you/ if they have any advice. If you keep going to every meeting, word will get around and over time you will build relationships with other investors. Networking is most of my business.
Almost all of my partnerships have come from my local REIA. I have at least 6 different joint ventures or partnerships.
- 7yChristi HawkinsPro MemberColumbus, OH · Member since 2017 · 237 posts · 142 votes
@Frank Patalano Thank you, that's great advice and something I never considered.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Christi Hawkins:
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
this is very difficult task.. what I would do is get a real estate license and work in the industry at least part time.. when you have some credentials behind U and guess who calls you .. Buyers and sellers real people doing deals.. then you can do what Frank is talking about and that Is network with your clients.. And you will know who Is real and who is not.. you will get paid along the way NOT work for free that's normally a dead end you will have many who go to these IRA things and for those with little or no ability they just use you and spit you out.. there is no loyalty unless your bringing them killer deals..
I have multi decade partnerships with clients I met when I brokered them something. You know our living with them through the escrow they come to like you.. they will answer your e mails etc. plus your building a career .. that is YOURS not working for free for some investor.. I get it I mean I could go to reia and pick up JV partners in my sleep but I am not a beginner and I have a track record of thousands of deals.. NOT all were great but many were and some lost money.. we always make and lose in this business.
get in the game not on the fringe.. I am often a guest speaker at reia's and I see the deer in the headlights .. Hope this helps
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Christi Hawkins:
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
this is very difficult task.. what I would do is get a real estate license and work in the industry at least part time.. when you have some credentials behind U and guess who calls you .. Buyers and sellers real people doing deals.. then you can do what Frank is talking about and that Is network with your clients.. And you will know who Is real and who is not.. you will get paid along the way NOT work for free that's normally a dead end you will have many who go to these IRA things and for those with little or no ability they just use you and spit you out.. there is no loyalty unless your bringing them killer deals..
I have multi decade partnerships with clients I met when I brokered them something. You know our living with them through the escrow they come to like you.. they will answer your e mails etc. plus your building a career .. that is YOURS not working for free for some investor.. I get it I mean I could go to reia and pick up JV partners in my sleep but I am not a beginner and I have a track record of thousands of deals.. NOT all were great but many were and some lost money.. we always make and lose in this business.
get in the game not on the fringe.. I am often a guest speaker at reia's and I see the deer in the headlights .. Hope this helps
Jay, thanks for more of a go-getter perspective.
Christi, you have various options. I followed a similar approach to what I gave you and that has lead to where I am today. I have found plenty of private loans and off market deals that I have built up through listening to and helping others.
I do not have any intention of becoming an agent/broker, yet almost all of my deals have come from networking.
- 7yChristi HawkinsPro MemberColumbus, OH · Member since 2017 · 237 posts · 142 votes
@Jay Hinrichs @Frank Patalano Recently, I have been thinking about getting my License again for the exact reasons you mentioned. I was Licensed for 10 years here but when I went into lending we could only hold one License at a time so I let it expire. "get in the game not on the fringe" is exactly right I'm going to write that down and put it on my bathroom mirror. I have wanted to ask this question for 6 months but was too afraid. Thanks so much to both of you, you have no idea how much you helped
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Frank Patalano:
Originally posted by @Jay Hinrichs:
Originally posted by @Christi Hawkins:
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
this is very difficult task.. what I would do is get a real estate license and work in the industry at least part time.. when you have some credentials behind U and guess who calls you .. Buyers and sellers real people doing deals.. then you can do what Frank is talking about and that Is network with your clients.. And you will know who Is real and who is not.. you will get paid along the way NOT work for free that's normally a dead end you will have many who go to these IRA things and for those with little or no ability they just use you and spit you out.. there is no loyalty unless your bringing them killer deals..
I have multi decade partnerships with clients I met when I brokered them something. You know our living with them through the escrow they come to like you.. they will answer your e mails etc. plus your building a career .. that is YOURS not working for free for some investor.. I get it I mean I could go to reia and pick up JV partners in my sleep but I am not a beginner and I have a track record of thousands of deals.. NOT all were great but many were and some lost money.. we always make and lose in this business.
get in the game not on the fringe.. I am often a guest speaker at reia's and I see the deer in the headlights .. Hope this helps
Jay, thanks for more of a go-getter perspective.
Christi, you have various options. I followed a similar approach to what I gave you and that has lead to where I am today. I have found plenty of private loans and off market deals that I have built up through listening to and helping others.
I do not have any intention of becoming an agent/broker, yet almost all of my deals have come from networking.
Frank I call U a 1 % er I know you.. I Know many like you I have been funding you for 30 years.. as I talk to the BP audience most simply don't have the skill set to take these things cradle to grave.. and its the same with licensed agents I have owned 4 brokerages in my career with over 500 agents working under me.. out of that 50 made good money and by that I mean well over 250k a year.. but fully half made just a living.. but you never know when that client comes in who takes a liking to you.. and your not working for free.
If everyone who expressed a desire at a REIA to go out there and knock it out of the park.. there simply is not enough inventory in 90% of the markets .. you have exceptions with parts of the upper mid west nor east big rust belt cities that still have 10 to 25k vacant houses.
but try to do this in Dallas or the west coast.. granted the 1% er do well and make it work.. but man no money no credit no skills or experience its a tough road. and I know BP is all ra ra ra that everyone can do it..
but at the end of the day most fall back to being landlords because that is a super simple thing to understand and implement.. They have good credit they make good money they have down payments etc etc.. so they can join the ranks of landlords.
REAL estate is just very tough it just is.. and it takes skills to succeed.. and usually takes capital and credit..
The wholesaling stuff is really starting to be a target for regulators.. in Oregon u get turned in for marketing a property you don't own you can count on a cease and desist and at least 10k defending yourself..
I know the REIAS can work for some my point it just not quite as easy as showing up and volunteering LOL.. I mean I get those all the time These folks are well meaning for me bring no value.. But I know there are others at REIAS that like to be the grand pu bah and enjoy all the attention.. And I know others that simply as I state could careless if a bird dog made a dime.. its only what can you do for me now..
that's the reality of the tough streets of Real Estate..
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Frank Patalano:
Originally posted by @Jay Hinrichs:
Originally posted by @Christi Hawkins:
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
this is very difficult task.. what I would do is get a real estate license and work in the industry at least part time.. when you have some credentials behind U and guess who calls you .. Buyers and sellers real people doing deals.. then you can do what Frank is talking about and that Is network with your clients.. And you will know who Is real and who is not.. you will get paid along the way NOT work for free that's normally a dead end you will have many who go to these IRA things and for those with little or no ability they just use you and spit you out.. there is no loyalty unless your bringing them killer deals..
I have multi decade partnerships with clients I met when I brokered them something. You know our living with them through the escrow they come to like you.. they will answer your e mails etc. plus your building a career .. that is YOURS not working for free for some investor.. I get it I mean I could go to reia and pick up JV partners in my sleep but I am not a beginner and I have a track record of thousands of deals.. NOT all were great but many were and some lost money.. we always make and lose in this business.
get in the game not on the fringe.. I am often a guest speaker at reia's and I see the deer in the headlights .. Hope this helps
Jay, thanks for more of a go-getter perspective.
Christi, you have various options. I followed a similar approach to what I gave you and that has lead to where I am today. I have found plenty of private loans and off market deals that I have built up through listening to and helping others.
I do not have any intention of becoming an agent/broker, yet almost all of my deals have come from networking.
Frank I call U a 1 % er I know you.. I Know many like you I have been funding you for 30 years.. as I talk to the BP audience most simply don't have the skill set to take these things cradle to grave.. and its the same with licensed agents I have owned 4 brokerages in my career with over 500 agents working under me.. out of that 50 made good money and by that I mean well over 250k a year.. but fully half made just a living.. but you never know when that client comes in who takes a liking to you.. and your not working for free.
If everyone who expressed a desire at a REIA to go out there and knock it out of the park.. there simply is not enough inventory in 90% of the markets .. you have exceptions with parts of the upper mid west nor east big rust belt cities that still have 10 to 25k vacant houses.
but try to do this in Dallas or the west coast.. granted the 1% er do well and make it work.. but man no money no credit no skills or experience its a tough road. and I know BP is all ra ra ra that everyone can do it..
but at the end of the day most fall back to being landlords because that is a super simple thing to understand and implement.. They have good credit they make good money they have down payments etc etc.. so they can join the ranks of landlords.
REAL estate is just very tough it just is.. and it takes skills to succeed.. and usually takes capital and credit..
The wholesaling stuff is really starting to be a target for regulators.. in Oregon u get turned in for marketing a property you don't own you can count on a cease and desist and at least 10k defending yourself..
I know the REIAS can work for some my point it just not quite as easy as showing up and volunteering LOL.. I mean I get those all the time These folks are well meaning for me bring no value.. But I know there are others at REIAS that like to be the grand pu bah and enjoy all the attention.. And I know others that simply as I state could careless if a bird dog made a dime.. its only what can you do for me now..
that's the reality of the tough streets of Real Estate..
- Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Frank Patalano:
Originally posted by @Jay Hinrichs:
Originally posted by @Christi Hawkins:
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
this is very difficult task.. what I would do is get a real estate license and work in the industry at least part time.. when you have some credentials behind U and guess who calls you .. Buyers and sellers real people doing deals.. then you can do what Frank is talking about and that Is network with your clients.. And you will know who Is real and who is not.. you will get paid along the way NOT work for free that's normally a dead end you will have many who go to these IRA things and for those with little or no ability they just use you and spit you out.. there is no loyalty unless your bringing them killer deals..
I have multi decade partnerships with clients I met when I brokered them something. You know our living with them through the escrow they come to like you.. they will answer your e mails etc. plus your building a career .. that is YOURS not working for free for some investor.. I get it I mean I could go to reia and pick up JV partners in my sleep but I am not a beginner and I have a track record of thousands of deals.. NOT all were great but many were and some lost money.. we always make and lose in this business.
get in the game not on the fringe.. I am often a guest speaker at reia's and I see the deer in the headlights .. Hope this helps
Jay, thanks for more of a go-getter perspective.
Christi, you have various options. I followed a similar approach to what I gave you and that has lead to where I am today. I have found plenty of private loans and off market deals that I have built up through listening to and helping others.
I do not have any intention of becoming an agent/broker, yet almost all of my deals have come from networking.
Frank I call U a 1 % er I know you.. I Know many like you I have been funding you for 30 years.. as I talk to the BP audience most simply don't have the skill set to take these things cradle to grave.. and its the same with licensed agents I have owned 4 brokerages in my career with over 500 agents working under me.. out of that 50 made good money and by that I mean well over 250k a year.. but fully half made just a living.. but you never know when that client comes in who takes a liking to you.. and your not working for free.
If everyone who expressed a desire at a REIA to go out there and knock it out of the park.. there simply is not enough inventory in 90% of the markets .. you have exceptions with parts of the upper mid west nor east big rust belt cities that still have 10 to 25k vacant houses.
but try to do this in Dallas or the west coast.. granted the 1% er do well and make it work.. but man no money no credit no skills or experience its a tough road. and I know BP is all ra ra ra that everyone can do it..
but at the end of the day most fall back to being landlords because that is a super simple thing to understand and implement.. They have good credit they make good money they have down payments etc etc.. so they can join the ranks of landlords.
REAL estate is just very tough it just is.. and it takes skills to succeed.. and usually takes capital and credit..
The wholesaling stuff is really starting to be a target for regulators.. in Oregon u get turned in for marketing a property you don't own you can count on a cease and desist and at least 10k defending yourself..
I know the REIAS can work for some my point it just not quite as easy as showing up and volunteering LOL.. I mean I get those all the time These folks are well meaning for me bring no value.. But I know there are others at REIAS that like to be the grand pu bah and enjoy all the attention.. And I know others that simply as I state could careless if a bird dog made a dime.. its only what can you do for me now..
that's the reality of the tough streets of Real Estate..
LOL. That is probably the first time that I've ever been called a 1%er.We don't even have an LED TV in our house.
Been working 7 days a week for 20 years. Not in Real Estate. Been investing part time for 10. Just getting to the point where my RE investments outweigh my expenses.
It's awesome that you are killing it. I've just always been the tortoise, not the hare.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Frank Patalano:
Originally posted by @Jay Hinrichs:
Originally posted by @Frank Patalano:
Originally posted by @Jay Hinrichs:
Originally posted by @Christi Hawkins:
@Frank Patalano what's holding me back is money. I could get a Hard Money Loan but wouldn't have the cash for the carrying costs involved or when something goes wrong. I've recently been thinking I might be better off to partner with someone for my first few flips to gain experience, put some money in the bank, then go on my own. How would I find someone willing to partner with me? I've already thought about friends and family and that's not an option.
this is very difficult task.. what I would do is get a real estate license and work in the industry at least part time.. when you have some credentials behind U and guess who calls you .. Buyers and sellers real people doing deals.. then you can do what Frank is talking about and that Is network with your clients.. And you will know who Is real and who is not.. you will get paid along the way NOT work for free that's normally a dead end you will have many who go to these IRA things and for those with little or no ability they just use you and spit you out.. there is no loyalty unless your bringing them killer deals..
I have multi decade partnerships with clients I met when I brokered them something. You know our living with them through the escrow they come to like you.. they will answer your e mails etc. plus your building a career .. that is YOURS not working for free for some investor.. I get it I mean I could go to reia and pick up JV partners in my sleep but I am not a beginner and I have a track record of thousands of deals.. NOT all were great but many were and some lost money.. we always make and lose in this business.
get in the game not on the fringe.. I am often a guest speaker at reia's and I see the deer in the headlights .. Hope this helps
Jay, thanks for more of a go-getter perspective.
Christi, you have various options. I followed a similar approach to what I gave you and that has lead to where I am today. I have found plenty of private loans and off market deals that I have built up through listening to and helping others.
I do not have any intention of becoming an agent/broker, yet almost all of my deals have come from networking.
Frank I call U a 1 % er I know you.. I Know many like you I have been funding you for 30 years.. as I talk to the BP audience most simply don't have the skill set to take these things cradle to grave.. and its the same with licensed agents I have owned 4 brokerages in my career with over 500 agents working under me.. out of that 50 made good money and by that I mean well over 250k a year.. but fully half made just a living.. but you never know when that client comes in who takes a liking to you.. and your not working for free.
If everyone who expressed a desire at a REIA to go out there and knock it out of the park.. there simply is not enough inventory in 90% of the markets .. you have exceptions with parts of the upper mid west nor east big rust belt cities that still have 10 to 25k vacant houses.
but try to do this in Dallas or the west coast.. granted the 1% er do well and make it work.. but man no money no credit no skills or experience its a tough road. and I know BP is all ra ra ra that everyone can do it..
but at the end of the day most fall back to being landlords because that is a super simple thing to understand and implement.. They have good credit they make good money they have down payments etc etc.. so they can join the ranks of landlords.
REAL estate is just very tough it just is.. and it takes skills to succeed.. and usually takes capital and credit..
The wholesaling stuff is really starting to be a target for regulators.. in Oregon u get turned in for marketing a property you don't own you can count on a cease and desist and at least 10k defending yourself..
I know the REIAS can work for some my point it just not quite as easy as showing up and volunteering LOL.. I mean I get those all the time These folks are well meaning for me bring no value.. But I know there are others at REIAS that like to be the grand pu bah and enjoy all the attention.. And I know others that simply as I state could careless if a bird dog made a dime.. its only what can you do for me now..
that's the reality of the tough streets of Real Estate..
LOL. That is probably the first time that I've ever been called a 1%er.We don't even have an LED TV in our house.
Been working 7 days a week for 20 years. Not in Real Estate. Been investing part time for 10. Just getting to the point where my RE investments outweigh my expenses.
It's awesome that you are killing it. I've just always been the tortoise, not the hare.
read my bio I have killed it and been killed.. LOL.. I just like to drop some reality into the Saturday morning musings here on BP.. Carry on. !!!
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