All Forum Posts by: Dominic Balconi

@Chris Tracy That's the impression I've always gathered. I'd much rather spend months gathering funds from 20 individuals to make a 100% down payment than get a loan. Every BP rental property analysis that I've run always has the cashflow destroyed by the debt servicing. 

Not to mention, the investments I will be making are in a foreign market where the cost to build is far cheaper than the cost to buy; I will be developing the apartment. 

I'm not sure how to approach this with investors though, because Construction will likely take 1-2 years. 

Greetings, everyone.

Just a quick simple start to the discussion here; feel free to take it wherever you wish.

How have you personally, or what are the best strategies in your opinion, to fund large apartment deals (32+ units)

I'm considering building a syndication fund of unaccredited investors to invest at least 50k each. Thoughts on this strategy? If so, whats the best way to sell 20+ people on investing 50k with me?

I fully agree, though I also believe that to positively affect a tremendous quantity of people, wealth is a highly useful, and in some cases, a necessity. Think of Bill Gates, whose foundation has saved over 100M lives; there's no way he could have accomplished that had he not been so wealthy.

That's great advice. Everyone tells me that I act very mature for my age and people typically assume that I'm in my mid 20's, so I have that on my side. Over the past year or so I'd say I've gone from being capable of making a positive first impression, in a business sense, from a 3/10 to a 7/10. 

I would build a single-family home in Ecuador and sell it for 80-120k.

Hello, everyone, 

I simply have one important question for you.

(I won't get into the specifics of how exactly I'll be starting my real estate investing journey; just be assured that I have found a highly profitable niche in an overseas market that has very few downsides.)

My question is: What is the most important thing, the most useful tip, the simplest fix, your two cents, etc. that you have learned either from personally investing in real estate or through your education and preparation to begin investing?

Anyone can feel free to pitch in here. I believe that everyone has the capacity to provide useful knowledge. Even if you think I may already know what you might say, post it here anyway; somebody else could read it and it could radically induce some positive change in their investing career and future.

I'll provide my example below just to get the ball rolling here:

The most important thing I have learned throughout my real estate education career, from the dozens upon dozens of books, podcasts, BP Forums, etc. that I have consumed and absorbed is: anyone can truly accomplish their goals in real estate. For some it may take longer, it may be harder, you may fail more than others, but if you follow certain steps and guidelines proven to be effective by those who have been successful before you, and you back those steps up with undefeatable persistence, you literally cannot fail, ultimately. 

Thank you, everyone, so so so much for taking the time to respond. You are truly what makes me want to invest in real estate even more. 

Wishing you all Peace, Love, & Positivity

Sincerely,

Dominic Balconi,

Future Billionaire

Seems like a no-brainer in my opinion. Even if it takes 3 years to sell and you only sell it for 90k, that's still a 33% COC ROI.

@Ray Lai

The Direct Mail campaign I will be launching will specifically be to sell beachfront lots and condos in Ecuador, where I typically live.

The Direct Mail campaign my mortgage company will be launching will be to get callbacks to refinance people's loans, if they qualify and there is enough tangible benefit, obviously.

I do appreciate the example though it doesn't really apply to my situation.

However, I'm more than capable of adapting this situation to my scenarios. 

Thanks again!

@Ray Lai  

As a matter of fact, I watch a BP Podcast every day and take notes on it! I've only taken notes on about 20 so far, but I've watched around 50 at least.

So far I've also done 40 practice Analyses with various types of deals with the various types of calculators.

Thanks for all the info, I really appreciate it!

I can't wait to finally start on my first deal. 

I lived in Charlotte for the first 15 years of my life! NC is very nice, but I must say, I prefer South America far more. It's more comparable to getting into a Fortune 500 stock at the ground floor. Far more opportunities and potential for growth. Coastal NC is beautiful. But, I could build 12-20 beachfront units, each cash flowing $300-$500, for the price of one beachfront single family home in NC. 

Math is wonderful! 

Obviously, the risk in South America is far greater, but there's always ways to minimize and eliminate risk.