Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
Originally posted by "TimWieneke":
I wish one of these REI guru's would just ________I don't know.....invest in property?
There's one thing JT does that I like. You give him the name of a town in an area where he's said he invests and he will give you an address of a deal he's done. You can look it up and verify it. That lends serious credibility.
Create a list of addresses that people can look up and verify you've done. That will make a difference.
Well OK Tim, then spill it? You are all over this site saying you won't give away where you invest, but charge people money to know. So ok there Mr. Guru, give me the addresses. Or Give them to ********** (James) as he has asked for them as well in your guy's late night rantings found here:
http://forums.biggerpockets.com/viewtopic.php?t=18170&highlight=
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
18y
Originally posted by "**********":
Did I miss anything? Hey, we need to keep it light so we don't go crazy, correct?
Let's add Indiana Jones! I'm going to see it tonight at 12:01 AM! :beer: :beer: :beer: :beer: :beer:
I talked the SCORE idea over with my dad tonight and he thought it was great. I'm looking forward to seeing where this goes. This is so timely too as my private money lender just told me she's referring another lender to me. I was actually worried about how to set up the right systems to handle this and I believe this SCORE idea may hold the answers I need.
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
18y
Originally posted by "4rmgt":
Tim never followed up in doing marketing with me or any deals with me at all.
Ryan you're absolutely right and this goes to the heart of why I left your training. I didn't pay for training with the intention of being taught to go find deals for you. I paid for training intending to learn how to find deals for myself. I have since learned in the field how to do that and will continue to do so.
Lets be honest. This is probably why our personalities conflict and will continue to conflict. I am highly independent and have my own way of doing things and know beyond a shadow of a doubt I am right when it comes to locating the best cashflowing property. I'm doing it my way now. I'm not in this to make other people rich. I'm in it to make me rich and in the process I know I will make other people rich because I am an ethical person in how I pursue wealth. I wouldn't get personal referrals if I weren't.
I think the discussion between you and I has run it's course. My best wishes to you in your endeavors.
Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
18y
Yes, let's be honest. The "Training" you say you stopped, are 1 day courses to teach people how to do it for themselves. Not bring them to me.
After the courses, you never took the steps to really set up your business. Fine, but you didn't "Stop my training". I dont' do that. I am an investor. Why the classes 3 times a year? So I could get people to go to the and not have to answer the same question hundreds of times.
I have no products to sell, I just teach on subjects like:
[list]
Birddogging effectively
Wholesaling as a career
The Foreclosure process
Marketing in the REI Arena
How to leave your job in a year
etc
[/list:u]
Again, it isn't like you stopped my training. I only teach to 30-40 people anyway at these classes. I found anything larger was to hard for people to really connect and learn. I want people to learn and be a success. If we do deals together, then awesome for both of us.
I used to coach kids sports teams all the time. I coached hockey while in the Air Force. Do you know how much that paid, you got it, it was volunteer. I don't have any kids myself, so I did it because I loved it. Nothing like seeing how the kids go from stealing the puck from each other and not playing positions, to being a team, passing, etc.
That is why I teach these things. To see others get excited about doing a deal and understanding the real industry we are in, is great. Especially when you see someone get their first deal. Simply amazing!
So if you didn't utilize what was taught in those classes, great, but others have and have been successful with it. They will even tell you where they are buying at!
Real Estate Broker · Fort Myers, FL · Member since 2008 · 1k+ posts · 323 votes
18y
Tim
Whats your method for picking markets? I do numbers work as a consultant primarly on SWFL but have worked on other stuff. I dont charge 350 an hour. I send my bills to hedge funds. I am think of changing my rate based upon reading this thread. Chi town, I do not kow much about. Whats the cash flow numbers like there.
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
18y
Yes actually, thank you. I have a class coming up on business plans. Looking forward to learning from retired execs how bank execs want a business plan to look.
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
16y
It's been a year and a half since this thread and Barbara Corcoran, the founder of the 5 Billion dollar real estate company The Corcoran Group and real estate mogul from Shark Tank, just came out and listed my area, in fact the exact town I have been working in for a little under 3 years now, as the TOP area for real estate value in America.
This isn't a game for me. I know what I'm doing when I pick an area and I know exactly why I'm just about done in this area and where I'm going to next and why. I have the same confidence in my decision making skills as the day I came to this city with pocket change. It is nice though to find out from a real estate billionaire that I made the right call.
Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
16y
Tim,
This is the first time I have read that post and quite frankly I don't blame you for keeping your cards close to your vest. I've been "waiving" Birmingham all over this site, and now I cannot keep up with the inventory. Properties are being snatched left and right and although I cannot say that the demand is a result of my "big mouth", it may contribute to it somehow.
With regard to why people stay where they stay or rent in certain areas - jobs or no jobs, what I found out from my own experience is that people like to stay where their social support is (Friends and family).They would stay in an area even if it's not a good area just because of that reason. My most recent tenant, rented the house because her mother live a block away and her aunt lives even closer.
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
16y
I know what you're talking about Eddie and it can be frustrating. Just let the newbs buy the bad deals and take your time to cherry pick the good ones. You'll get it. You knew what you knew when you went there and you'll develop yourself into a more savvy buyer of the local area - and that's where you will shine even brighter.
On another note, I sent a thank you to Ms. Corcoran last night via e-mail and a brief description of what I had been up to for the past 3 years. She likes it and told me I'm a savvy investor. I think I'm going to frame her e-mail and hang it on the wall.
Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
16y
As they say- you can prove ANYTHING with statistics or scriptures! Normally, when everyone starts selecting the same area it is already too late.
I got blasted the other day for publishing the 25 megapolitan areas and mentioning how important sunshine is.
I can show you 3 years in a row(and I was there investing from the start) for Mcallen ,TX. Money mag listed it NUMBER 1 for future appreciation THREE years in a row. After 3 years, it was time for me to move on. Now, a service has listed Mcallen as the SECOND best area for future jobs! Maybe I left too soon.
Again, you can prove almost anything with your twist on statistics.
I'll put my 4 picked areas up against anyone. So Cal in 70's, st george utah in early 90's , Casa grande, AZ in early 2000's, and So TX in 2006.
All of these were long enough ago that I have the PROFITS to prove they were good. Lets' wait on current areas to see if they actually turn out well.
Everyone knows I recently picked SWFL. I agree the jury is still out on that one. I'll still stick with the sunny states, thank you. Rich in FL.
Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
16y
Originally posted by Rich Weese:
As they say- you can prove ANYTHING with statistics or scriptures! Normally, when everyone starts selecting the same area it is already too late.
I got blasted the other day for publishing the 25 megapolitan areas and mentioning how important sunshine is.
I can show you 3 years in a row(and I was there investing from the start) for Mcallen ,TX. Money mag listed it NUMBER 1 for future appreciation THREE years in a row. After 3 years, it was time for me to move on. Now, a service has listed Mcallen as the SECOND best area for future jobs! Maybe I left too soon.
Again, you can prove almost anything with your twist on statistics.
I'll put my 4 picked areas up against anyone. So Cal in 70's, st george utah in early 90's , Casa grande, AZ in early 2000's, and So TX in 2006.
All of these were long enough ago that I have the PROFITS to prove they were good. Lets' wait on current areas to see if they actually turn out well.
Everyone knows I recently picked SWFL. I agree the jury is still out on that one. I'll still stick with the sunny states, thank you. Rich in FL.
Absolutely!!! I would go with ocean front / view first, but if you cannot afford it (And most of us don't) - follow the sun...
The only problem that I see with SWFL (Which by the way, I also see in West palm beach) is the way the subdivisions were schemed. A vast area of SFRs lots with no or very little pockets of services. It feels like you have to drive for miles to get a carton of milk should, God forbid, you forgot to buy one on the way home.
Rental Property Investor · St. Louis, MO · Member since 2008 · 189 posts · 75 votes
16y
Tim, so now that the gig is up can you tell us where you have been investing? Also, do you move to the area your have chosen next or do you do this remotely?
Also, thanks for all you contribute to the site.
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
16y
Originally posted by Mike V:
Tim, so now that the gig is up can you tell us where you have been investing? Also, do you move to the area your have chosen next or do you do this remotely?
Also, thanks for all you contribute to the site.
PM sent.
I'm not good enough to do this remotely. I'm going to have to move. It's a while off though. Year or so.