All Forum Posts by: Blaine Alger

Money talks. 

I think a cool idea is  to have them "invest" with you and actual start learning about how the numbers works. I know when I was younger and I made 50 bucks i would get pretty excited. Shoot, I still get excited when i make 50.

Once they start seeing the money coming in they will be more motivated to learn and get involved. I would advise again trying to force them into anything because usually that does not have the best reaction. more like a gentle push.

-BA

This is probably not a popular opinion, but I like Idaho. It is beautiful country and a lot of farm land (Cascade, New Meadows, Donnelly, Council, etc) that will be developed in the next 20 years. Not a huge cashflow mkt from what I know but appreciation is near.

Prices seem to be too high already, i hope there is a crash in the near future so I can afford to buy an acre or 2.

-BA

I think SA is a great rental market.

The rest of the I 35 corridor is great but the only issue is you are dealing with secondary markets and there is not as much inventory from what I have seen.

Places like WACKO are great but there is only so many opportunities and a lot of buyers, so it is tough to find a good deal. I think it is better to invest in a larger markets where you have the ability to bounce around the suburbs and what not. 

-BA

Don't over complicate it. No one expects you to know everything when you are getting started.

Just continue to take advantage of all the resources BP offers (podcast, forums, blogs, webinars, books,etc). There is incredible value to be had in this community. I learned more about RE from spending time on BP then I ever did in 3 yrs in college, haha. 

You are lucky you are starting so young. I wish i had done that.

-BA

It would be tough but not impossible.

I think the biggest challenge would be financing. Unless you have had a solid and consistent w2 over the past 2 year, then no bank is going to lend you money and unless you are dating the bankers daughter. 

Focus on building your credit and getting your finances lined up. If an opportunity comes up to work with an investor then leap on it.

Feel free to reach out, I always enjoy chatting some RE. Best of luck!

-BA

The numbers and CoC looks good but I would need to see a little more information to know for sure (location, unit layout ,etc).

I feel like RE is a bit more cerebral then other forms of investing if that makes since. For example the stock market is all about financials and the hard numbers and while the numbers matter in RE as well, i believe there is a lot more up for interpretation and isn't so much a concrete quantitative detail.

I hope that makes sense, haha. 

BEst of luck to ya.

-BA

Relax, you got this. Don't try to talk yourself out of a deal. 

Lets look at what you got going for yourself:

-sounds like you have a decent paying job

-your family has been in the RE business for a while so I'm sure they would love to offer you some advice and bail you out if Sh*t hits the fan

-its only a total investment of 45k which is a lot of money but still relatively affordable

At the end of the day if nothing goes your way, it'll be a great learning experience. Even if you lose 45k, that would be worth it in my opinion.  

Let us know how it goes.

-BA

If you found it on facebook, someone sent you an email/text or they reached out to you in any other way, then its no good.

There is nobody out there that will be hustling to push 4% hard money loans. Normal terms for hard money in my area is about 10-12% and 1-3 pts. Watch out for other "fees" as well that they will slide into the term sheet because that'll drive up the effective yield. 

Don't get scammed.

-BA

@Kevin Paulk

GREAT ADVICE. I was going to say the exact same thing.

The only reason you would need an LLC is for liability reasons in case you piss a seller off and they sue you, tax implications and business banking.

If you aren't generating any revenue yet, no need to worry about a LLC. Go find a deal.

Good luck!

-BA

Just track down the Ex and explain to her the situation. If you have a name and a mailing address or city, the you should be able to find some contacts.

There is probably some workaround but if title says they can't do it without a signature, then you need to find another title company or just do what they want.

Hope you find em.

-BA