All Forum Posts by: Christine Taylor

Thank you everyone for your input. Since that 3 day workshop and making time to explore BP, I have been doing a lot of relative spending in my head concerning this future money. I have come to the same conclusion as the shared advice from you folks here on BP.

Until then I will continue to educate myself and learn from you good folks.

Thank you!

Hattie,

I very much appreciate that information. I figured that it's not all its built up to be, but how do you know that unless someone like you comes along and has a view from the inside. I didn't have the money for the master's training anyway but I did get quite a bit of valuable information from the workshop.

I have already started utilizing BPs information. Im currently listening to A Beginners' Intro. To REI. I'm not going to let anyone or anything keep me from my goals of being an REI. I delayed too many years as it is, so I'm starting without Fortune Builders.

What I do know is I have a settlement coming from a roll over car accident that was caused by the other driver. I should get it within the next year. So knowing this I am educating myself so that I put however much money I receive to good use.

Thank you again for that insight. I welcome any advice from BP members.

I agree about what you said about the bed & breakfast. I personally would not have gone that route myself. My thinking leaned toward a Doctor's office. I hadn't even thought about a Residence's house/dorm.

So I would need to find out how much it would cost to renovate it into a dr. office or house for renting rooms, as well as the demand for those needs.

Did I mention the owner was willing to finance with 10% down, and it is also within 3 miles of a university with a great nursing program?

Thank you for responding David. 

My next question is would you keep it a sfh or convert it to a doctor's office, bed & breakfast, or a duplex?

Hello BP,

I have attended a Than Merrill Fortune Builders three day workshop and was blown away! I understand why so many people are very skeptical about people who go about selling systems on real estate investing. However I think that Fortune Builders is a little different that most others on the market. Yes, they are in it to make money, that is what entrepreneurs do. But the seminars and boot camps are not their only source of income, they are still active in the real estate market. 

As far as the sales pitch goes the speaker we had in DFW TX in Jan. was selling the system, but he made it very clear that what was being offered was not anything new to the real estate investment business, it however has been refined, to the point of basically purchasing a franchise. He said that we did not need Than's system to make it big in real estate investing, that everything they offered anyone could do. What they are offering is a system that has most of the kinks worked out and is constantly being refined to make it better. They don't just sell you a system, they provide you with a mentor, with computer programs, business set up assistance, boot camps, etc. As stated before, if you were to buy into their "franchise" you would pretty much have to do nothing to actually fail! They do not say that REI is easy, even with their system. It still requires work, time and someones money. Besides the sales pitch, they gave a lot of valuable information for people wanting to get into the business. They even gave a plug for BiggerPockets, listing this site as a valuable place to get good information and help from experienced REI's.

And if you're wondering, I am not affiliated with Fortune Builders in anyway. I attended a one day workshop and a couple of months later their three day workshop. I have not invested any more than that, because I don't have the money, however if I did I would seriously consider it. 

Hello BP Investers,

I have a question concerning a property that was on the market last year. In my mind, without even seeing the inside; I was thinking this might be a good purchase. Already taking into account the age of the house, it would probably need new plumbing and electrical, basically a total remodel. However the asking price was only $78,000. It is a 5 br, 2 bath home located within walking distance of our local hospital. though it is predominately residential there are many different doctor's offices for various practices in the area. The property is zoned limited office. Permitted uses: Bed & Breakfast, Medical Office, Office in Home, and duplex & SFH. It has 2200 sq. ft. and is a two story house.

So those of you with more experience than I have what would you have done with this home if you found it on the market? 

Hello BP,

It's been awhile since I've posted. My question runs along the lines of what neighborhoods to or not to invest in. I live near Wichita Falls TX, where I plan on doing my REI. The strange thing about Wichita Falls, is that some if the older neighborhoods are inigmas in my mind. You can have a $100K to $200K dollar home in a neighborhood and 2 or 3 houses down you have $50K to $75K home. Of course there are areas where home values are more consistant. What are your takes on this, has anyone else seen anything like it?

I find this thread very interesting. I am a visual/hands on learner. I have no doubt of my success once I have some hands on experience and in my opinion the best way to get that experience is work with a mentor. I know that whether or not I work with a mentor , I will eventually succeed through trial and error. I prefer to learn from other peoples mistakes so I don't waist my time and money. But one way or another I am going to be a successful REI. It would be nice (if they don't already) if BP had a free page for experienced and willing RE investors to offer their services as mentors. They can list their resume and area where they are located so new investors can see their options.

Thank you very much. I know enough to be dangerous, so I have a lot to learn!

I'm new to wholesaling as well and I believe that I understand the concept clearly. My question is is there a formula to knowing what to charge for an option to buy contract that you want to sell to a cash buyer? Is it a certain % of the retail value of the property, or a % of the option to buy contract, or something else?