Bill Gulley: Path to Success Education

Bill Gulley: Path to Success Education

Ozark , MO · Member since 2014 · 61 posts · 40 votes

Background:

I completed my associates degree in information technology with an emphasis on networking, and I achieved the CCNA certification (Cisco Certified Networking Associate)My first job in IT was running the IT department. (knew the right people and got lucky). I then met Aubrie and moved to Springfield MO where I was a level 1 system administrator. Within 2 years I passed MCITP:SA 2008, MCSA 2012, MCSE 2012, and I was promoted to level 2. Aubrie (fiancée) mentioned that she was interested in real estate investing which eventually lead us to Bill Gulley

Path to Bill Gulley:

The very first thing I did was review a company that Aubrie had found which promised a job and training. The name of the company was Renatus. Up front they stated that they spent a lot of time and money to determine how far they could go with a pyramid scheme before they had to file it with the government. They then went on to explain the marketing job and admitted that it was a pyramid scheme. What they didn't explain is how they created several companies for each step of the way so that they could have several pyramid schemes. They also didn't discuss the quality of school in much detail. I could see how a person could be successful in this, but I decided that this was not for us. I then started doing research online for real estate education. What I found was that there were no schools that were clearly the leader on real estate education. They usually only focused on passing tests. This is what turned me to biggerpockets. I decided that I'd have a better chance of success trying to piece all the information together than I would trying to pay for education. This is where I met Bill Gulley.

Who Is Bill Gulley

Bill is the smartest businessman and real estate investor I have ever met/read about. He has an account on this forum  (as most of you know) which lists several of his former careers. Basically, he has experience in almost everything related to real estate. If you know real estate then you know the encompasses several different fields; business, real estate, education, politics, ect.... Here is a story to give you an example of the knowledge he has: There were two ladies that owned several cabins/houses along a river. Both had equal interests in all the properties. One of the ladies decided to split and the other wanted to move. The legal descriptions of the properties were extremely unusual and the two ladies were not communicating. Bill was approached to help solve the problem. He convince the lady that wanted to move to give him her half in return for an interest % in the property when everything was fixed. Bill then used his half as leverage against the other lady. She either had to sell her half to Bill or go to court where Bill would force her to sell. The lady decided to sell her half to her lawyer who then told Bill what Bill had told the lady. Bill was able to convince the lawyer to sell his half to Bill (you'd have to ask him how he did this). Bill then corrected all the legal descriptions so that the properties were uniform. This increased the value of all the properties. He was then able to sell/rent at a much higher price. Best of all.......he did this without using any of his own money.

Bill's Education

Bill's first task in educating me was ensuring that I don't read "guru crap," and to help me find a good book that he could teach me from. This actually ended up being harder than we thought it would be. This is because Missouri does not have a specific state book for real estate like they used to. Instead, the educators have to create the curriculum to help students pass the state exam. The education programs are audited to ensure they setup the students for success. Bill used his connections (phones calls and office visits) to eventually get us to "Mastering Principles of Real Estate Fourth Generation" by Gerald R Cortesi. I have been reading it and writing notes. Bill and I have also been meeting on Sundays to discuss real estate related items such as my business plans, real estate experiences, and any questions I have from the book. Bill plans to create worksheets to go with the book so that I have real life examples of each lesson. We also plan to discuss business models so that I can make my dream real and successful.

Conclusion

If all you are looking for is to pass your real estate exam or make a quick buck then there are lots of guru books out there for you. If you are looking to be an extremely successful real estate investor (or anything related to real estate) then I highly suggest that you talk with Bill Gulley. His knowledge and experience will ensure that you are successful and legally compliant......unlike most "guru crap."

Thanks @Bill G.

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Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
11y

@Phillip Tillotson My gosh man, thank you, that's more than the $100.00 worth, LOL, no really, thanks.

I'm in the guru forum! Good grief!

I met Phillip through BP, in his post he mentioned wanting to be involved in Sec 8 rentals and I could tell he had the passion for RE and a sense of community involvement, that sparked my interest in helping him. The other thing too was he is local, lives just a few miles from me, so I thought I'd offer to take him under my wing so to speak.

I'm not in the mentoring business, just teaching.

Phillip and  Aubrie are both very quick studies at picking up the basics, I expect them to do very well in RE.

Phillip, I've told that story here a couple times, it's my favorite due to the circumstances and the players involved (LOL). One of many, you'll be hearing more.

Thanks again. :) 

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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    11y

    Goodness, that was a heck of a testimonial!!!  How much did he pay you to say all that?  

    Just kidding!!!!  

    Glad you found someone whom will take you to the next level!!!

    Curt Davis - KAIZEN Realty538 Reviews
  • Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    11y

    @Phillip Tillotson Dude - we love Bill as is.  You are working way too hard :)

  • Ozark , MO · Member since 2014 · 61 posts · 40 votes
    11y

    lol. He did not pay me a dime. He is doing a lot for my family and I by providing a lot of educational help. I felt compelled to write about it. I plan to write future posts on where I'm at in the process.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y

    @Phillip Tillotson My gosh man, thank you, that's more than the $100.00 worth, LOL, no really, thanks.

    I'm in the guru forum! Good grief!

    I met Phillip through BP, in his post he mentioned wanting to be involved in Sec 8 rentals and I could tell he had the passion for RE and a sense of community involvement, that sparked my interest in helping him. The other thing too was he is local, lives just a few miles from me, so I thought I'd offer to take him under my wing so to speak.

    I'm not in the mentoring business, just teaching.

    Phillip and  Aubrie are both very quick studies at picking up the basics, I expect them to do very well in RE.

    Phillip, I've told that story here a couple times, it's my favorite due to the circumstances and the players involved (LOL). One of many, you'll be hearing more.

    Thanks again. :) 

  • Investor · Reading, PA · Member since 2014 · 196 posts · 118 votes
    11y

    @Phillip Tillotson 

    So, @Bill Gulley offered to help you with your education.  That's awesome!  I'm glad you accepted.  Had you declined, my response would have been along the lines of:

    http://www.youtube.com/watch?v=usfZSsSeSKo

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y

    LOL, @Jason Krick  funny. Thanks for the thought....

    I'm looking forward to working with these two, Phillip is helping me with my computer deficiencies LOL!

    I'd recommend the book Phillip mentioned too, it's not 100% of what I think newbies need to know, but it's 95% there, the other areas can be filled in easily. Phillip got it on Amazon, others may want to check it out.

    If anyone has questions on the book I'd be happy to address them in the forums.

    No, I have no financial interest in the book. :(

  • Ozark , MO · Member since 2014 · 61 posts · 40 votes
    11y

    It is a used book so choose your source carefully. Make sure the seller has buyer ratings/comments.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y

    Thanks Phillip!

    Starting off, I couldn't find my principles of RE book, it being outdated I contacted a local RE school and spoke to the owner, he loaned me the book to show Phillip. Then Phillip found the source. I mentioned I needed to get one to keep up with him and he bought two! Guess what he gave me as a Christmas present???? Go ahead, guess! I didn't plan on that, but thank you again Phillip!

    So, if anyone else is interested, guess they can get the same book and post question in the forums, I'll bet Phillip cam answer them correctly too in short order! :)

  • Investor · Sherman Oaks, CA · Member since 2008 · 6k+ posts · 3k+ votes
    11y

    Can we start a  @Bill Gulley  video library?

    Properly indexed?  By subject?  PLEEZE?

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y
    Originally posted by @Brian Gibbons:

    Can we start a  @Bill Gulley  video library?

    Properly indexed?  By subject?  PLEEZE?

    What? Now what do you have cooking?

    Video? Of what? Of me? Ha, you'd have to clear that through my movie agent! :)

  • Rental Property Investor · Douglas County, MO · Member since 2014 · 1k+ posts · 1k+ votes
    11y

    When I first started reading this thread I thought Phillip was telling us that Bill was connected to Renatus and teaching all those questionable practices. I was thinking, "What?? Is this another Bill Gulley? Something doesn't sound right." Then I got to the 3rd paragraph. Whew! All is right with the world!

    :-D

  • Investor · Sherman Oaks, CA · Member since 2008 · 6k+ posts · 3k+ votes
    11y

    Bill Gulleu is honest and he knows what he is talking about if anybody doesn't know who he is

    Read his posts if you could have the time to read 16,000 posts

    I would love him to write a book

  • Ozark , MO · Member since 2014 · 61 posts · 40 votes
    11y

    UPDATE:

    I have completed the book and taken all the tests. The financial and insurance parts are the only two parts I'll have to re-read. There are a lot of particulars in those two sections.

    I'm excited for the next step!! Going to be creating an LLC with some local investors that I know personally. Sky is the limit!

  • Bluffton SC · Member since 2015 · 199 posts · 55 votes
    11y

    @Phillip Tillotson

     @Bill Gulley

     Why did you choose the fourth edition of the principles of real estate? There is a 6th edition that was released in 2013. Would that not be more relevant?

    Thanks

  • Ozark , MO · Member since 2014 · 61 posts · 40 votes
    11y
    Originally posted by @Julian Buick:

    @Phillip Tillotson

     @Bill Gulley

     Why did you choose the fourth edition of the principles of real estate? There is a 6th edition that was released in 2013. Would that not be more relevant?

    Thanks

    It would be if you were trying to obtain your real estate license. I was not trying to do that. We used it to learn the basic principles which don't change much.

  • Bluffton SC · Member since 2015 · 199 posts · 55 votes
    11y

    @Phillip Tillotson

     I'm not trying to obtain my licence either. I was just wondering if the 4th edition was better than the 6th. Sometimes they ruin a good book by updating it. I have some Engineering books that most people prefer the earlier revisions. Thanks

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y

    @Julian Buick

    No idea, what you're likely to get with later writings is tid bits of the wind blowing in regulations, particular outlooks, for example; they may mention the popularity of wholesaling and address issues or they may mention Dodd-Frank or Consumer matters with those in foreclosure. I think such meat is already out there in current discussions.

    The basics or principles of real estate go back decades and have not changed. This is where the bulk of RE knowledge is, deeds, title, ownership rights, encumbrances, encroachments, liens, economic aspects, what RE is and what makes it valuable, valuation methods, legal contracts, disclosures, surveying, laws of agency, this stuff hasn't changed and is the basic foundation of all strategies used by operators and investors.

    Learn real estate first, then how to deal in real estate. :)

    Brian, I'll have a surprise for you soon enough, LOL.

    As will happen starting out, new investors have set backs, friends don't pony up as thought, a seller gets wishy washy and backs out, even with some seed money help to kick off with, finding the right deal can take time.  Time is a factor too when someone has a full-full time job, that's another book, LOL. Philip is still doing very well. :) 

  • Investor · Encinitas, CA · Member since 2013 · 83 posts · 18 votes
    11y
    Originally posted by @Bill Gulley:

    @Julian Buick

    The basics or principles of real estate go back decades and have not changed. This is where the bulk of RE knowledge is, deeds, title, ownership rights, encumbrances, encroachments, liens, economic aspects, what RE is and what makes it valuable, valuation methods, legal contracts, disclosures, surveying, laws of agency, this stuff hasn't changed and is the basic foundation of all strategies used by operators and investors.

    Learn real estate first, then how to deal in real estate. :)

    Bill, let me just start with...you are a LEGEND!!  Now for a little background on me...

    Recently I earned an MBA with a real estate focus from the University of Pennsylvania and live in CA (distance learning program).  Several years ago I studied for and received my CA real estate license and did the same with a TX RE license and worked as a mortgage broker there for a few years before getting into healthcare account management.  Long story long, I have an EXTREME PASSION for real estate and only a basic understanding of RE fundamentals, not much more though than the average investor.

    How does a guy like me develop a career like you have had, to learn/earn/and return?  If you were just starting out and had a love for mortgage notes (knowing what you know now), what would you do differently, or the same? 

    My initial direction is to pursue a start in private equity or other institutional investing in an acquisitions role, or possibly asset management.  Just not sure it will get me to where I want to be in 5-10 years, which is managing my own portfolio of notes, properties, etc.

    Knowing how involved you are with many much more worthwhile endeavors than responding to this post, I will post this as an open question to others as well.  Between you and me and the three people reading this, I really want to know your thoughts first.  Thank you in advance for any wisdom you are willing to share!

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y

    @Josh Rich

    @Josh Rich 

    Thank you.

    You really need to know real estate before getting into mortgages. I really can't stress that enough! 

    You're on the right track already with your education.

    My first few deals were done by hit and miss without any formal education or specialization, I remember being in the dark. I basically got to where you are after the Army as an enlisted guy, then I was commissioned. I went into insurance and property and casualty, that put me in a position to look at real estate from a different perspective. Then I studied for my RE license, but did not take the test. Long story short, my wife was the comptroller for a Boise Cascade plant and was transferred. I sold my agency and we moved. I then went with FDIC as an examiner. That put me in banking. Loans took me back into the real estate arena, along with appraising. Later I started my own mortgage company and became more involved in real estate. I became a real estate broker and I did some teaching at the college level in various business subjects, mostly adult education. From that point, you'll see in my profile that I became active in local government, boards and commissions as well as non-profit activities in housing. Doing commercial loans gave me opportunities in other business ventures in other industries, food, hospitality/recreation, steel fabrication and automotive to mention a few.

    So, to say this was a planned path, I can't say that really. One stepping stone led to another. I worked construction in the 60's, and real estate was always a related aspect. First note I purchased was a car loan! After FDIC, I was more involved in notes.

    What I know today is an accumulation of almost 50 years in business, it's hard to put that in a forum post. I burned the candle at both ends for most of my working career and retired around 54 with a very nice nest egg. 

    I'm not just one thing, I'm an entrepreneur at heart, real estate and finance are at the center of it all. 

    What I suggest is to follow your desires, your dreams, stay focused with your education and knowledge and look for opportunities rather than trying to force some strategy into success. Be alert, nimble, flexible, adjust to ever changing conditions in your business. Map out a direction, not so much as a true course as you'll need to go around obstacles. 

    I don't tell others what they must do for a living, what I can do is relate experiences back to shorter paths to reach a successful end. I spent about 15 years messing around until I saw the light through a better, formal education and applied that knowledge. Life got much easier after that. 

    Being retired is a drag, running around cruising, traveling, living on a large lake gets old. BP ignited the old spark several years ago, so, here I am, still engaged, with property interests and a portfolio. You just can't get rid of me! LOL

    @Brian Gibbons    

       You're getting your wish, in a way. Coming soon to a computer near you!  :)

  • Investor · Encinitas, CA · Member since 2013 · 83 posts · 18 votes
    11y
    Originally posted by @Bill Gulley:

    @Josh Rich

    What I suggest is to follow your desires, your dreams, stay focused with your education and knowledge and look for opportunities rather than trying to force some strategy into success. Be alert, nimble, flexible, adjust to ever changing conditions in your business. Map out a direction, not so much as a true course as you'll need to go around obstacles. 

    This is the best advice I've heard in many years, thank you ! This has been true my entire career and the ambiguity of it all sometimes is an obstacle in and of itself. Thank you for your time to respond. The direction I'm mapping out is RE finance, ideally involving CRE loans. Thanks again.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y
    Originally posted by @Josh Rich:
    Originally posted by @Bill Gulley:

    @Josh Rich

    What I suggest is to follow your desires, your dreams, stay focused with your education and knowledge and look for opportunities rather than trying to force some strategy into success. Be alert, nimble, flexible, adjust to ever changing conditions in your business. Map out a direction, not so much as a true course as you'll need to go around obstacles. 

    This is the best advice I've heard in many years, thank you ! This has been true my entire career and the ambiguity of it all sometimes is an obstacle in and of itself. Thank you for your time to respond. The direction I'm mapping out is RE finance, ideally involving CRE loans. Thanks again.

    CRE Finance? The engine of that train is education, the fuel is knowledge, to be the engineer you'll need to gain experience. Having a good mentor can knock off years of the learning curve. Finance is not just a science, it's an art as well. Build the most powerful engine you can, the climb is long and steep. Best of luck making your dreams a reality! :)

  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    11y

    Bill Gulley - Man of the Hour with @Phillip Tillotson is a younger Dean Martin.

    I like that flattery makes you squirm a little; it's a good thing.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    11y
    Originally posted by @Brian Gibbons:

    For folks that want good books to build a library that is powerful:

    http://www.amazon.com/Mastering-Real-Estate-Princi...

    Bill Gulley's Book

    http://www.amazon.com/Lawrence-J.-Kaplan/e/B001H6N...

    Retiring Right - Financial Planning

    http://www.amazon.com/IRA-Wealth-Second-Revolution...

    IRA Wealth - Learning about Self Directed IRAs - Getting Private Lenders

    http://www.amazon.com/James-A.-Misko/e/B001IYZFU2/...

    How to Finance any Real Estate - James Misko - Awesome 30 year RE Broker

    http://www.amazon.com/Complete-Guide-Estate-Closin...

    Understanding RE Closings - Sandy Gadow

    http://www.amazon.com/Albert-J.-Lowry/e/B001IXPQYS...

    Anything by Albert J Lowry - Awesome creative guy

    OK Bill, I am looking for your computer course...

    And waiting for that 20,000 post!

     Brian, that isn't my book, just want folks to know that, I have that book, an old edition, it has the basics in it but any text book for real estate agents to pass their exam would be fine. 

    When looking at any book for real estate pay attention to when it was published. So much has changed in real estate and finance since the bubble popped that old ways can now be in error or even illegal. Any book that is accredited by a real estate commission for licensing purposes will be fine, the date won't really matter as to the basic concepts of real estate. 

    I'm a few hundred posts away Brian.

    Computer course?  If you mean the Academy, disclosure: I'm financing it, paying for it, no note involved, just donating and their are others involved, admin, other content and IT aspects. Others need to eat. I am contributing content. It's designed to teach the fundamentals of the business, advance into specific areas and into what I call "Special Operations". As it progresses it will not only be about real estate, but the business of real estate touching on related aspects of finance, accounting, economics, marketing, insurance, government influences and law. And yes, notes. Sorry, no hype allowed in this school. No partnership deals, no expensive books or materials (costs, if any at all, will be less than having dinner out at Red Lobster). Ethical and accepted practices to profit in the business will be stressed of course, mostly how to profit. Best of all, much of it will be free! (I'm not starving!)

    But, Brian, I can arrange a very special deal just for you. Membership for, not $7, not $70, not even $700, but $7,000 just for you......LOL, I'm joking, but you get it! 

    Thanks for asking :)

  • Chicago, IL · Member since 2015 · 469 posts · 81 votes
    11y

    I can't speak about @Bill Gulley as @Phillip Tillotson did but reading his response to question I asked about how to approach a certain of seller was a great teaching moment that I appreciated very much.  I think if I was in MO, I would soak up as much as I could from Bill as Phillip has.

  • Wholesaler · Waldorf, MD · Member since 2015 · 459 posts · 245 votes
    11y

    I actually thought as I was reading the very first post, that the young guy was shilling for some guru,...I'm glad I kept reading!

    @Bill GulleyThanks for the list of books.

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