Updated about 9 years ago on . Most recent reply
New Member: Dan from Denver
My name is Dan Williamson and I’m from Denver/Aurora, CO area.
I really don’t have much of a background in real estate other than the fact that I’ve been a renter all of my adult life.
I have, however, had quite an entrepreneurial streak in me for most of my life and am looking to branch out. As my other businesses are generating a bit of cash flow, I am looking to invest in something more than a 401k. The buy-and-hold strategy appeals to me the most and that is where I have been focusing most of my attention and learning.
A second area that I am interested in surrounding real estate investing is connecting new real estate agents with investors. In fact that’s really how I found Bigger Pockets. I have a few friends who are newly licensed agents and while in regular conversation I would bring up the subject of creative deal-making in real estate. The most creative response I got from all of them was “You mean something other than a 20% down?” What has drawn me here is both the investing (in real estate) side as well as the investing (in people) side.
While I am reading, listening and learning as much as I can as quickly as I can, I still feel like quite a newbie.
I’m looking forward to meeting and interacting with everyone.
I’ll also be at the Denver meetup tonight. So come find me. I’d love to get to know people in person.
Most Popular Reply
@Dan Williamson unfortunately residential real estate agents tend to be some of the least creative people when it comes to making deals. There are a few reasons for that. 1) No one teaches them that because making deals takes work and work takes time and time is money. 2) Creative deals tend to take more time. It is much more profitable from a time perspective to do one off the shelf deal and have time to golf or if you are a hustler find another deal then to put together one creative deal. 3) Brokers don't like creative deals because it takes their time to oversee the deal to make sure they don't loose their license over the deal. 4) Creative deals tend come out of situations where cash is an issue. That means there is no money to pay the broker their fees.
Buy and hold is great. Just remember, you make your money when you buy and in 30 years the price you paid for a property will be laughable when compared to the value.