All Forum Posts by: Ashley St. Gelais

So I LOVE helping to inspire others to make real estate work in their favor.  I recently put out a video that shares a bit of our story and offers an invitation to a totally free (no pitches) webinar I created.

It includes 5 Principles that new investors need to know as well as our story of how we built our $1.35M portfolio with just $35K in cash. 

So, I was quite surprised when I received this comment yesterday:

BIG FAT LIES. Is what this gentleman posted.

So, this post got me thinking.  What would encourage this guy to post this comment without even watching the webinar to learn more about it?

Because his beliefs don't allow him to even consider that this sort of investing could change his life.

So my questions to you:  

What beliefs do you have that might be standing between you and the kind of success you deserve?

Do you believe that you deserve it?

Are you open to learning new strategies and ideas that could change the rest of your life?

It's all got to start with you.

Because the road to success isn't always filled with sunshine and butterflies.

Happy Saturday folks! 

Make **** happen. Keep learning and forging ahead even when the road gets bumpy.

: ) A

p.s. I'd never put my name and face next to something that included big fat lies.

@Richard Pierre

Hey Richard,

Welcome to BP!

First of all he or you could call around to local banks/credit unions and ask if they lend on land.  If the value is there, the buyer shouldn't have to put up any of his own collateral. The land should act as that if you find a lender who offers this type of loan. : )

A

Hey @Charity Phillips

Welcome to BP!

A few thoughts for you.

1) You should get a CPA or accountant to do your taxes for you. Once you get into the world of owning property things can get complicated fast.

2) You don't have to have an entity to show rental income under.  You tax preparer should be able to file a schedule e for you under which you can report earnings and expenses for rental property - even if it is owned in your name.

3) Lastly, owning a property in an LLC is great for liability protection, however, it can prevent you from obtaining conventional mortgages, which offer the longest terms and the best rates.

My 2 cents! Hope this helps.  And if you wanna know more about investing in rental real estate profitably.  Shoot me a private message and I'll share my free training with you. : )

Ashley

@Jason Eyerly

Hey Jason!

WORD OF MOUTH is the best and cheapest form of advertising.

1) So use your relationships with friends and family.  Tell them what you are up to and why you made this career change.

2) Build new relationships with people in the industry - lenders, attorneys - etc.  Find people you truly enjoy being around and working with and ask how you might be able to help them out.

3) Ask for testimonials from the people you are working with so far.

4) ABOVE ALL OFFER EXCELLENT SERVICE so that people you serve have an amazing experience they can rave about.

5) Do little special things for your clients - if they love house plants get them a house plant at closing.  Or you could even put together a house warming party for them that you are at and can meet all their friends and family and neighbors.

Hope that helps!

A

Hey @Robert Fuhs-

To be honest, I'd suggest putting some push back on the seller. Show them the appraisal and tell them that it is hard for you to buy something above what the market shows it is worth.  See what they say.  They may stay at that price or reduce it a bit...

Either way you can decide to purchase the property, even if that means you pay more than the appraisal says it's worth.  

At the end of the day, it sounds like it might be worth it even if you buy it for the agreed upon price...

Hope this helps!

A

@Giavonn R.

Hey Giavonn,

We've found the easiest and cleanest way to transition to new properties is to have the tenants out before closing.

In this case, it sounds like it might be too late for that.

I'd suggest researching your local landlord tenant laws about how much notice you need to give to the tenant in order to raise their rent or to end their lease agreement.

If they are going to stay, I would approach them after the closing and have them sign a lease agreement with you that spells out all the details and agreements.

Because nothing is in writing, it seems that you are open to more issues...

Hope this helps!

A : )

@Doug Reed

Glad to hear you love your current spot. It's pretty important to love where you live. : )

Do you have cash ready to invest in a buy and hold property?

Please let me know if there is anything else I can assist with.  

A

@Pavlos Kasselouris

What if you invest in the buy and hold properties as you find them and along the way flip/wholesale properties to build up your cash supply?  Then when you are tired of searching for flips then hopefully you'll have enough passive income from the rentals.

Kinda the best of both worlds.

A

@Doug Reed

Hey Doug,

Welcome to BP! It's a great community here. You will gain a TON of knowledge and who knows - maybe you'll even find a partner or two.

Knowing that there is a resource available to me that offers advice on pretty much any REI question has been a huge benefit to me and my business.

Investing in multifamily properties by using as little of my own money as possible is my game. Please let me know if there is anything I can do to help you in your journey!

The best way to jump into buy and hold ownership is to target an owner occupied multi family home with an FHA loan - which means only 3.5% down payment. Send me a message if you want more details. : )

A

@Mike Mills

Hey Mike,

Welcome to BP! It's a great community here. You will gain a TON of knowledge and who knows - maybe you'll even find a partner or two.

Knowing that there is a resource available to me that offers advice on pretty much any REI question has been a huge benefit to me and my business.

Investing in multifamily properties by using as little of my own money as possible is my game. Please let me know if there is anything I can do to help you in your journey!

The best way to jump into buy and hold ownership is to target an owner occupied multi family home with an FHA loan - which means only 3.5% down payment. Send me a message if you want more details. : )

A