All Forum Posts by: Donald Capwell

ok, @Roger Rustad, I did some quick digging on this, since I haven't been in the aviation loop for a few months...  The FAA website gives all the particulars... But here's a summary sheet...

Basically, if you can charge a fee or make money, it's a no from the FAA.  Enforcement can be tricky, of course, and I'm sure there are folks doing it, but unless it is a hobby-only UAV weighing less than .55lbs, it is restricted (without registration) or forbidden (any commercial use).

So, I'll change my last answer a bit!  ;)

Cheers

@Roger Rustad, what are you trying to see?  Make sure you check local ordinances, as this is becoming a BIG deal in some areas.   If you are recording a video to sell your own house / property, you're probably ok (or on behalf of a seller, if you are an agent).   I worked in aviation up until recently, and there's a lot of problems with these new airborne set of eyes, both because of privacy and safety...

Would love to know what your thoughts / plans are, and see what others say...  In short, I am not doing so now, but am also not restricted to taking a video in my area, so I may when I have to sell a property...

Welcome aboard, @Joel T.!  You are not alone, and you're definitely in the right place.  There are so many avenues to invest in RE, so I'd suggest starting at the beginning - at the Education tab up at the top of the screen.  I tell all the new folks I chat with to read The Ultimate Beginner's Guide, and in each chapter you'll have a ton of additional resources (links to podcasts, forum posts, etc) that you can get even more topic-specific information.  Check it out, and pick a strategy or two that you might be interested in.

Next, the Search bar is like an electronic gold mine here!  Key in a search topic and when the page loads, you can choose from forum posts, podcasts, blogs, etc that all refer to that link.  That should keep you busy for more than an hour an a half a day!  :)

As you move forward, be social!  Take note of the bloggers and posters that you are drawn to and then follow them (click their name to go to their profile).  Ask questions, and eventually you'll have all the education you need to get started.

Finally - join a REI meeting in your area (you can find them at meetup.com and sometimes craigslist). Lots of good information at these meetings, and great opportunities to meet folks and network (one of your goals, after all).

Have a great time, and good luck!

@Bill Gulley - I had to look up Kendrick Lamar.  LOL- my kids are embarrassed, I'm sure...

Chatting with folks is definitely part of my driving for dollars strategy.  Folks are friendly, so if you look approachable, most will chat with you and give you information - sometimes contact names and numbers.  When you get this, CALL them, don't send mail!  Let them know that so-and-so referred you, and you'll get a someone that will at least speak with you on the phone long enough to determine motivation.

I haven't tried the walmart or restaurant approach (selfish me time), but I'm going to!  Never considered it... (duh, right?)

Thanks!

@Brandon Turner, this is a pretty good question that I didn't fully think through until asked. You base the purchase price on ARV, minus repairs? I don't remember 20% as the discount, so I will use 30%, and although @Humphrey Piccus doesn't mention subtracting the repairs in his scenario, it's still gotta be done...  I do remember you mentioning a higher than average appreciation (aka forced appreciation) the first year.   Here's he math, as I would do it...

3/2 ranch

ARV: $150k

Repairs needed: $20K

Purchase Price ($150K x .7) - $20k = $85k

Following this formula, I'll have $105K into the property after repairs (excluding purchase closing and holding costs during rehab, of course). The repairs should bring the value UP TO the ARV of $150K, right? If normal appreciation in the area is 3%, how do we get to 10% at the end of year one?

Funny math, or I'm missing something...

Finishing my thought...

They drop out after they see that it's work.  So, keep this in mind when you approach someone to help you, as you might get a lot of responses like "come see me in 6 months orca year, then I'll know you are serious."  

Have thick skin, as they say, and keep moving forward.  Don't be discouraged by rejection, but use it to propel yourself to your goal!  There is z lot of information on this site, so educate yourself, and then take action!

Cheers!

@Ali Daiy, you can start at the REI meeting... Ask around, and volunteer your time and services in exchange for mentoring. "how can I help YOU" should be your approach. You can also call the numbers on the bandit signs in your area, or RE craigslist ads and introduce yourself in the same way.

One thing to keep in mind is that there are a lot of people that THINK they want to be investors, but don't have the energy or drive to make it.  They drop 

@Dustin Kircher - well done!  Looks great!

@Brandon Heath... Lol.  G14 Classified... classic

@Alan Morrison, like everything else, I'm told some REI's are better than others, but you can take away stuff even from the worst of them, if boing more than some contacts and referrals to other groups.

Good luck!

welcome, @John Whitfield!  If you haven't already,the Ultimate Beginner's Guide is a great starting place, you may be past that, with over a year under your belt here already.  Good luck in your journey!