All Forum Posts by: Michael Galloway

Brentwood - northern california,

J Scott, i would love to mentor someone. This sounds like a great idea. Anyone in the San Francisco Bay Area ready to learn?

Any specifics? no money? no credit?

Tyler Bond,

Welcome, I remember being exactly your age and going through the same thoughts in my mind. I was one of the youngest stock brokers in CA at the time. I had just passed my series 7 and 63 license exams. I went home and was thinking how is anyone going to let a 19 year old kid invest their life savings.

The truth is, your youth is just an obstacle in your mind. We all have obstacles in our minds that we have to overcome.

I'm too young, I have no experience, I have no money, I have no time, there are no opportunities in my market, i'm too old..... the list goes on and on.

My suggestion is that you convert your youth into your strength! this is how i did it...

"i would tell investors that because i am so young, i have so much energy, so much time, no other commitments, that will keep me from working on this investment. I am 100% committed to making your money work for you"

Tyler, all obstacles aside, if you find a deal, the money will be there, the experience will be there, everything will fall into place. Don't let anyone get in your way of achieving your goals.

If you need another pep talk or advice don't hesitate to ask. Your BP support is here. We are in your corner.

"Don’t wait; the time will never be ‘just right’. Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along. "

Napoleon Hill PS one of my favorite books too.

good one.

Jodi Slocum, you are in the right place! Welcome to BP. I am excited for you. Your first Investment property always seems like the hardest. Keep going and stay active here on BP. It is the best online FREE education that i have seen. Cant wait to hear about your experiences in Arkansas

Good Luck,

Theodore B., Welcome, I look forward to hearing about your experience with investing in Detroit. Could you please open up a thread about your recent experiences in Detroit?

Jason Merchey, glad your here. Looking forward to hearing about your experiences in SC. It's always nice to get some new perspective especially coming from SF area, where property values are high.

Good Luck, Michael Galloway

Deshone Drummond Congratulations!!!!! That is Awesome!!!

That's what i love about this business, any day you could come up BIG!

Again Congrats!

Michael Galloway

welcome John Knappmann, i glad your joining us. I know what you mean about not good at estimating rehabs. lol, i think a lot of us here started the same way. The beautiful part of this business is that you keep learning something new every day. Especially here on BP.

Again, welcome from California,

Michael Galloway

I almost forgot to update you on this SUB2. The property is still scheduled for auction next month. (was postponed) owner has a little more time on their hands.

It was a duplex with a 78k original loan from 2006? or 2005? only 22 years left. total payment was only 800 including taxes and insurance. both units rent for 1100 each. No one is occupying the building. Owner was going to remodel, ripped out kitchen, ran out of money and now does not have enough cash to rehab and rent out.

the value retail based on comps is 120k. being that there is equity here, you would think the owner would sell traditionally. However, this guy has been hiding out. I tracked him down through some mail that was in a back garage. Weird! I will try again in another week, see if he changed his mind.