How did you all get started in investing?

Real Estate Deal Analysis & Advice
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How did you all get started in investing?

Keegan Thompson
Nashville, TN · Member since 2016 · 13 posts · 4 votes

I am interested to hear some of of you got started in real estate investing and how much money you all had to begin. 

Thanks in advance! 

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Ben Leybovich
Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
10y

Step 1 - don't address anyone as homie :)

Step 2 - learn what a deal looks like.

Step 3 - go find one

Step 4 - figure out what to do with it

Easy!

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    Zero money,   lived at home in Cupertino CA.. got my REal Estate license and moved out when I got a few commission checks and never looked back.. that was 42 years ago.  3 recessions.. one mini recession and a Global financial meltdown.

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  • Keegan Thompson
    OP
    Nashville, TN · Member since 2016 · 13 posts · 4 votes
    10y

    Thanks for the reply Jay!

    Did you start out with a firm or on your own? Were/are you in real estate full time? 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    Sold Land to start... it was easiest .. either all cash or owner financing.. never had to deal apprasials, banks, etc.. willing buyer willing seller = commission in 30 days or less.. plus we made 10 to 15% commissions in those days on bare land.. and frankly I was good at it..

    but that was then and now is now.. In rural areas though were land sales are prevelant there is a way to be quite successful at it.. you just have to know how and get creative that's what I did.

    I worked for my fathers brokerage for the first 2 years then got my brokers license and worked for myself the rest of my career... although now in Oregon I do hang my license at a Brokerage but really don't do any business with it.. I am going to fire up my CA brokers license in sept .. ( been inactive for many e years ) but I have some building projects there I am starting so I want access to MLS on my own terms.

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  • Keegan Thompson
    OP
    Nashville, TN · Member since 2016 · 13 posts · 4 votes
    10y

    That's awesome homie! 

    Whats some advice you can give to someone wanting to start building a portfolio with no money and a full time job? 

    Any steps I should begin taking? 

    0Reply
  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    10y

    Step 1 - don't address anyone as homie :)

    Step 2 - learn what a deal looks like.

    Step 3 - go find one

    Step 4 - figure out what to do with it

    Easy!

    18Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Ben Leybovich  No kidding old buy like me thinks that's a swear word  LOL... See next weekend Ben.

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  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    10y
    Originally posted by @Jay Hinrichs:

    @Ben Leybovich  No kidding old buy like me thinks that's a swear word  LOL... See next weekend Ben.

     I can't make it to SF, Jay. I let them know about a week ago. This move to AZ took a lot more out of me me and everything ran late. Unfortunately, I am out for this one :(

    0Reply
  • Joseph Caracappa
    Investor · Santa Rosa, CA · Member since 2012 · 127 posts · 90 votes
    10y
    Ben Leybovich steps 2-4 are common sense.. But thank you so much for clearing step 1 up for me, I have been wounding what I have been doing wrong for all these years??? Haha :)
    0Reply
  • Keegan Thompson
    OP
    Nashville, TN · Member since 2016 · 13 posts · 4 votes
    10y

    Thanks Ben and Jay. 

    Appreciate the time and responses!

    0Reply
  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    10y
    Originally posted by @Joseph Caracappa:

    Ben Leybovich steps 2-4 are common sense.. But thank you so much for clearing step 1 up for me, I have been wounding what I have been doing wrong for all these years??? Haha :)

     Hahaha!

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Ben Leybovich  Well that's too bad... I rarely go to these events.. as I really don't have anything to sell.. but I like J Martin and there are a lot of BP folks I would like to meet so they will all be there in one event..

    Plus its full circle for me.. I started my HML career in Oakland circa 1985.. my Dads attorney practiced there for 50 years.. lots of great memories.

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  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    10y
    Originally posted by @Jay Hinrichs:

    @Ben Leybovich  Well that's too bad... I rarely go to these events.. as I really don't have anything to sell.. but I like J Martin and there are a lot of BP folks I would like to meet so they will all be there in one event..

    Plus its full circle for me.. I started my HML career in Oakland circa 1985.. my Dads attorney practiced there for 50 years.. lots of great memories.

     Truth be told I am still trying to figure out a way to get there. Just doesn't look likely. Kids in a new school. Difficult to leave my wife for a week. But, we'll see

    0Reply
  • Steve Haight
    Las Vegas, NV · Member since 2014 · 732 posts · 137 votes
    10y

    @Keegan Thompson

    Got lucky found a mentor. Had no money but lots of energy so my mentor financed me on some inventory that he owned then he taught me how to sell it. He was an firefighter turned full time investor so I thought if he can do it so can I, that was over 30 years ago. This is the land business not buildings.

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Steve Haight  Land business 30 to 40 years ago when I started was a fast track.

    I equate that to selling time share in Vegas now.. you need a license in vegas but its BIG money if you are any good at selling ... and you get to work on the strip..

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Ben Leybovich  PS I am going to buy my Model X today  LOL  did you get auto pilot ?

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  • Steve Haight
    Las Vegas, NV · Member since 2014 · 732 posts · 137 votes
    10y

    @Jay Hinrichs

    Did you ever see david siegel queen of versailles that tells the story he is back in Vegas in a big way. Have some friends that work the time share tables, the best closers in the business. Some of them came from Perferred Equitys that ran the land sale operation in Pahrump some of the best land sales closers came out of that room in Pahrump. Think you and I may have traveled in some of the same circles along the way.

    0Reply
  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    10y
    Originally posted by @Jay Hinrichs:

    @Ben Leybovich  PS I am going to buy my Model X today  LOL  did you get auto pilot ?

     Haha Excellent! No - I did not buy the software. My car has all of the hardware, but I haven't gone there yet :)

    You'll love it, Jay! In fact, I have relatives throughout CA, including close to SF, so I was thinking of driving from AZ. It's just so fun in Tesla. I am having trouble with time on this one, though...:(

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Steve Haight  I grew up in the Day's of Boise Cascade doing all their CA Huge tracks.

    I knew some guys that sold NV desert but not well.

    you also had Jeff Dennis's R ranch's a time share of a Dude ranch...

    Anyone who has come up in the business that way cannot help but succeed at whatever they do in RE because you learn how to qualify present and CLOSE without it your just another dud out there trying to do something in RE.

    Glenn Garry Glenn Ross was my training ground.. my Dads company in its best year sold over 800 parcels in Northern CA....

    And what was the go to car in those days.... well if you were a siding salesmen it was a Caddie

    If you were a land man it was a Jeep Wagoneer with the faux wood sides.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Ben Leybovich  Can you give me your telsa code number.. I get 1k off with a tesla referral

     ... if your so inclined with would be appreciated...   here we are talking 125k cars but I need that 1k off   LOL>

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  • Steve Haight
    Las Vegas, NV · Member since 2014 · 732 posts · 137 votes
    10y

    @Jay Hinrichs

    Your dad probably knew the old guys coming out of Florida back in the 60s 70s. I am up here in Vancouver Canada for the summer and have investors talk about Oregon.  What kind of inventory if any you got for all these people up here that are sitting on a ton of equity may I ask? Could be from house to dirt?

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Steve Haight  hit me off line  I can help your clients.

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  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    10y
    Originally posted by @Jay Hinrichs:

    @Ben Leybovich  Can you give me your telsa code number.. I get 1k off with a tesla referral

     ... if your so inclined with would be appreciated...   here we are talking 125k cars but I need that 1k off   LOL>

     http://ts.la/ben9902

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Ben Leybovich  thanks Ben my order is in.. I hope you gets some credit for the referral.

    this is a super easy way to buy a car I sure like it... took all of 5 minutes to drop 125k  LOL>

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  • John Thedford
    Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    10y

    Many years ago in my youth I started buying SFR. It was easy back then to find assumable loans. Give the seller a little cash and take over. Those days are long gone. Move forward 40 years or thereabouts...started by accident. I knew the power or RE but had other interests. #1 lead to # 2 and so on. Due to extreme health issues from 2010-2013 I considered disability. After seeing what uncle scam was going to do for me (little of nothing) I realized I had to do it on my own to have financial security. I started in 2012 as a HML and purchased my first rental in SW Florida. Rentals as well as HML has done well for me but not without a few problems. Learn as you go, learn from other people, and study posts by successful people. BP has been a tremendous source of information. What would I do differently today? I would not let almost 40 years pass without RE investing.

    My goal has not been to make millions it has been to achieve financial security for my family. RE has done that for me in a few short years. 

    @Jay Hinrichs has been a great friend and teacher. Well respected! Same @Bill Gulley and a few more. Good thing these guys don't send bills for their efforts:) Every BP member owes them a lot for their contributions.

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Ben Leybovich  your officially entered into a drawing for a New X for your referral of myself. if you win it we split it right ?

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