All Forum Posts by: Bill Briscoe

Jon Klaus, that's the avenue I'm strongly considering. I talked to a local RE agent who said it's impossible to make money flipping. So I won't be putting him in my network. I hate the word impossible. I might have to look at 100 deals, but I think I can learn a lot that way. I would like to move to income producing properties eventually either in or out of my area. I work now 60 hours a week, and while I can put time into trying to do deals, I simply will not be doing labor myself and will not be a landlord. That's a quality of life issue and time fixing toilets and screening tenants will actually make me less money as I'll be unproductive in my business. I think every one of us has to know where we come from and what we can realistically handle. As someone once said "It's all well and good to know how to drive, but it's more enjoyable to know where you're going."

@Bill Briscoe - Thanks. That's helpful.

I would like to get input on how other people handle their contacts.

if they are currently paying below market rate, they should be grateful for getting a good deal while it lasted. When their current lease expires, offer them terms at or sloghtly below market rate. The ball is in their court. You can't leave a bunch of money on the table every month but you also need to consider the money lost when turning the unit over.

Just wondering since next year is the "big" birthday, anyone start out their real estate investment career or on the path to wealth around 50 years old? I could kick myself for not starting sooner and for the past decade considered it was "too late." I have also been consumed building my business which is doing well. But I ready Kellers Millionaire Investors book and that motivated me. I'm in the "heavy reading, talking, education phase" and hope to get my first deal in 6 to 12 months. I'm reaching out making contacts and talking to agents, lawyers and those I've done business with in the past. Don't want to go in unprepared but man, I wish I did this years ago even though I have a successful business.

As a newbie looking into Real Estate as a way to make money, the more I read the more feel that Leverage and tax advantages are the two main ways to make money in Real estate, otherwise it is like any other business, in fact maybe worse in many cases. I am thinking about buying some multi family properties and realizing if I am not watching over everything I am surely going to loose money or make a less than acceptable returns. Furthermore I have limited options with what I can do to increase my profits, like paint the exterior or put in new carpet. I am physically stuck to a location while a business can often move locations or expand. 30% plus returns investing into a company is very very doable. I often have turned $20,000 into hundreds of thousands. There are also many more options that you could play with if things didn't work out work out, unlike a property.

I would love to hear more from others who perhaps have owned or ran a somewhat successful company and now involved in real estate and how you feel the two compare.

Just trying to pinpoint at which point does it make sense for me to get involved in Real Estate because if I have to watch over everything regularly and get returns less than I would in a company it makes no sense for me.

I look forward to your view points.

Sincerely,

Brent

@Bill Briscoe - Can you tell me the exact version of IE you're using?

Hey @Bill Briscoe - There is a bug and we're trying to get more information so we can fix it. I'm guessing you're using IE8 or so. Is that right?

If so, can you tell me the exact version you are using?

Thanks

Hey @Bill Briscoe - There is a bug and we're trying to get more information so we can fix it. I'm guessing you're using IE8 or so. Is that right?

If so, can you tell me the exact version you are using?

Thanks