All Forum Posts by: Danielle Wolter

Who advised you to take this mentorship "opportunity?" I find the best way into inner circles is just meeting people. Go where they are, introduce yourself, etc. You don't need a mentorship program to do this. But it sounds like you are already realizing this. Doesn't sound like your options for getting a refund are good with no refund clause, but I'm no lawyer. 

Save your money for a deal. There's a ton of free information available - I'd start with that. And really, if someone else is doing all the work, how will you really learn?

CDs or higher yield savings accounts. I have a savings account that pays 2.45% interest. It's not a ton but it's more than what most banks pay. In the past, I've just kept money in index funds. Riskier if you need to make sure you have a certain amounts, but the return is better. For low risk, I'd use CDs if you can time the maturity dates so you don't have to pay the penalty.

@William T parkerIii Is there a reason you are set on buying this house? Is it purely to help your family, or are you trying to buy it as an investment because it's a good deal, etc?

Personally, I think you can learn a ton just by making connections with people in the business, reading, listening to podcasts and eventually doing yourself. Will someone walk you through it step by step? Probably not. But is 6 months of "mentoring" going to show you everything you need to now about investing? I doubt it. There is a huge wealth of information on this site. And honestly, if you're nice to people, and work to create mutually beneficial relationships, there will be people who help you. I've met so many incredibly generous and helpful people already. Save your cash for your properties. That's just my 2 cents.

Hi @Tyler Black. I just started investing in Memphis as well and taking a trip out there was hugely beneficial. I definitely recommend connecting with @Stephen Akindona, he's a great guy and incredibly helpful! I know you're looking to BRRRR, but if you're interested at all in turnkey, @Curt Davis is also a great guy and worth meeting if you go out there. I've also been working with Dean Harris from Crestcore who set me up to get properties on the MLS. I haven't done a deal with him yet, but he's done a great job at sending me properties that meet my criteria.

Can I ask what made you choose Memphis? 

I just set them all up on autopay and have them pay from one account. I write down all the information for each mortgage so I have it for reference, but after that I'm done. Money goes in and out of the same account. I don't know if that helps. 

@George Blower Thanks so much for all the information! 

Cash flow in San Diego will be very hard to come by (I own 1 that cash flows and one that sucks my bank account dry...). Unless, of course, you're paying with cash I guess. Appreciation is great, but not always guaranteed. Depends on how long term you plan to be in this for. Personally, I have started OOS investing in cheaper markets where I can buy more for the money and get some cash flow.

It really depends on what your goals are. Every investor will be different, which is why there are so many ways to invest. Personally, I like buy and holds to build long term wealth. But it's slower. Some will like the faster capital gained on flips. Like I said, it depends on the investor.