All Forum Posts by: Andrew Davis

Hey @Tabitha Grey, welcome to BP!  Florida misses you:)

I'm not a CPA, so I won't speak on this, BUT, you should check out Amanda Han's posts:

https://www.biggerpockets.com/users/KeystoneCPA

podcasts:

https://www.biggerpockets.com/search/podcast?utf8=...

and book:

http://get.biggerpockets.com/taxbook/

Also, since you're new to the site, here are a few tips to help you get the most out of BP and kickstart your investing career:

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other local investors).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in.

Check out the webinars, they are very informative, and there’s usually a new one every week.

Hey @Paul Schirmer, congratulations!  That sounds like an awesome deal.

Since you're new to BP, here are a few tips to help you get the most out of the site:

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other local investors).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in.

Check out the webinars, they are very informative, and there’s usually a new one every week.

Hey @Dimas Espejo, if you plan to do any volume at all as an investor, it's worth it to get your license.

You can keep your costs under $2,000 a year, and the commissions you make on one deal will cover that.

Hey @Adam Kingery, welcome to BP!

Here are a few tips to help you get the most out of BP and kickstart your investing career:

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other local investors).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in.

Check out the webinars, they are very informative, and there’s usually a new one every week.

I wish you all the best!

Hey @Pete Perez, thanks for posting and sharing your discouragement.  I would encourage you with this, we've all been there.  Regardless of what anyone says, starting a new business takes risk, courage and persistence, and as @Andrew Holmes shared, that's why so few are successful at it.  His advice is spot on, as is @Brian Baker's.  

You can't market efficiently unless you know what you want. You won't take the effective actions necessary unless you know why you want it. And, unless you advertise and tell everyone what you're looking for, you may never find it!

The deals you want and the money you need will always come to you at that point, in one form or another. And if the numbers don't work on a given opportunity, there are always plenty more opportunities out there, and many more deals to come!

It sounds to me like you know exactly what your next steps are, especially after all the great input on this thread.  Go find a great deal in your market, and finding funding will be much easier.  You've already read @Brandon Turner's book, but you may want to re-read it if your not clear on all the strategies available to you for finding deals.

Also, he's hosting a webinar tonight on that exact topic:

https://www.biggerpockets.com/webinar

I've connected with a number of investors at CFRI and outside of it who have expressed interest in funding 100% of my deals in exchange for 50% of the profits.  This a great deal for a number of reasons:

1.  You automatically get to work with and learn from an experienced investor.  That type of hands on training is invaluable, and even the guru's who charge $10-$50k or more won't give you that type of hands on training, or fund your deals for that matter.

2.  You'll get a really good idea of what constitutes an actual deal, because an experienced investor will not partner with you unless there's real money to be made.

I wrote a post on my first deal and how I funded it through BP, and partnered with a GC on the rehab, putting very little of my own cash in the deal:

https://www.biggerpockets.com/forums/522/topics/19...

I wish you all the best Pete!

Hey @John-Michael Moreno, thanks for saying hi and welcome to the Florida investing community!

With 5 units you are off to a great start, congratulations!  What's your ultimate goal?

Since you're new to the site, here are a few tips to help you get the most out of BP and further your investing career: 

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other local investors).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in.

Check out the webinars, they are very informative, and there’s usually a new one every week.

I'm an agent & investor in the Orlando area, so reach out anytime. 

Just ran a quick MLS search for Inverness. Only 8 homes for sale on the MLS, and only one rental listed on the MLS in the last year.

It's a really small town with a population under 8,000.

Your best bet would be to connect with a realtor based in Inverness, they would be able to tell you so much about the market, vacation rentals, vacancies (if any), and whatever else you wanted to know.

Hey @Armany Gonzalez, welcome to BP and the Orlando investing community!

@David Pupo is absolutely right, the podcasts are a tremendous way to get a lot of great information and ideas.

You mentioned shadowing an experienced investor, which is the best way to really learn the business.  I think you'll really get a lot out of this particular podcast:

https://www.biggerpockets.com/renewsblog/2016/03/1...

Matt Aitchison talks about how he connected with investors that he wanted to emulate and brought value to their businesses

@Dmitriy Fomichenko gives some great advice for getting started on the site.

Also, Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other local investors).

I'm an investor/agent in the Orlando area, so reach out anytime.

Hey @Allende Hernandez, sorry, that was a typo.  What I meant to say:

sounds like a good plan! You're right, it probably doesn't make sense for them to come in with 10% and you with 10%.

@Allende Hernandez, sounds like a good plan!  You're right, it probably make sense for them to come in with 10% and you with 10%.