All Forum Posts by: Gordon S.

Hey @Account Closed, sorry I only saw this now, I'm referring to this one run by Charles Nguyen:

by https://www.biggerpockets.com/forums/521/topics/30...

The other one that is closer to where I live is this one run by Steve and Peggy:

https://www.biggerpockets.com/forums/521/topics/31...

And then there is the Wealth Club as well: 

http://www.thewealthclub.org/

There is going to be a great class this weekend, run by Senna Homes - Sam Craven and his crew. Sam has been on the podcasts twice, so check it out if you haven't yet.

Super meet up this one, looking forward to learning even more than last month. Thanks guys!

I'm also kinda new to REI in Houston. So far, I've experienced that the experienced crowd will not really meet up and respond to requests. They are too busy working deals and making things happen, so that is understandable. However like Chris mentioned there are nearly 1 meet up per week somewhere in Houston. Join MeetUp if you have not yet and you'll see all the meetups. I go to the Steve and Peggy's meetup once per month but this group focusses on flipping more than anything else and I see you mentioned that you want to focus on passive income. There is also one in the down town/mid town area that I used to go to and that I'll probably start going to again soon.

Hi @Tyler Bernhard,

As a total noob (looking to do my first full on flip soon) - your solution sounds quite appealing. Can you clear one thing up for me if you don't mind? What does "providing the property" mean? How was the property sourced? I'm asking as that seems to be the biggest challenge for me at the moment....

Thanks for posting this! 

As I predicted in my own post, here I am freshly laid off...but get this, my lay-off created 2 new jobs in Malaysia....now where did I hear that rhetoric about American jobs for American people again.... :( 

Hey thanks @Joe Fairlessfor the quick answer. The HUD-1 shows the loan as "Conv. Ins." so that still requires 1 years worth of occupancy by the homeowner before we can rent it?

Hi everyone,

From listening to the podcast etc I have learned that if you finance your home using a FSA loan you need to stay in the house for a year before you can rent it, is this the same for a conventional loan from say, a local credit union?

Thanks so much for sharing that @Doug W.. As a newbie I'm learning a lot from experiences like yours. Good luck with the next one and I hope you make a decent amount of cash on the next one!

Interesting reading and some interesting comments. I work for one of the big O&G companies downtown as a upstream systems engineer contractor and I doubt if I will have a job in 6 months time...I personally think this has nothing to do with Russia or any Middle Eastern oil rich countries. I think it's much more obvious. As some people say: "Sometimes you don't see what's right there in your face....." 

We were having the same discussion not too long ago in the office and everyone was trying to make sense of it, just as in this forum ....Now I don't know if it's because I'm not American or if I was just thinking outside of the box but the conversation died as soon as I mentioned that the Saudi's might be targeting the US and not Russia or Iran etc etc....and here's why:

The US was still relying on international i.e OPEC oil not too long ago...my comment was based on what someone else mentioned earlier, because of new drilling technologies, oil production here in the US has increased...A LOT. What are they (OPEC) left to do when one of their main stakeholders starts doing their "own thing"? Destroy them because they can. Now that someone previously in the thread put some numbers to it it's even more obvious: 33% in 2 years....as RE investors how happy will ya'll be if one of your main investors starts relying on someone/something else to the tune of 33%? I guess not too happy...

The Saudi's don't care about oil rich countries such as Russia et al. Those countries supply outweighs the demand and will "bounce back". I don't think it has anything to do with Putin behaving like a muppit or Iran playing nuclear chess...Demand still outweighs supply last I checked in the US. Saudi's know that, and why get 67% when you are in the habit of getting 90%+ or whatever it was before all the fracking and shale oil production in the US? Unless fracking and shale oil becomes much cheaper to produce overnight or something, we have a problem....In short they are forcing the oil price down so that it becomes nice and cheap to rather import more crude and cut that 33% local output by as bigger margin as possible....and then the price will systematically rise once the US is "on board" again and they will adjust output to the market value they like...I guess we will still be out of jobs however...

BTW none of my South African friends that work in the O&G market in Saudi are being laid off...makes you think, huh?

Thanks Kevin for a great post, as someone that is just starting out on this exciting path, it was very helpful and it once again re-iterates the advice I'm getting in J Scott's book as well.