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All Forum Posts by: Grant Shipman

Grant Shipman has started 78 posts and replied 268 times.

Post: Rather Than a BUNCH of books- why not master 1?

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Nathan Gesner:

The Unofficial Guide to Real Estate Investing by Spencer Strauss. It has enough of what you need to get started.


 That's cool I haven't read that one.  What makes you choose it over Turner's BP bigger book? 

Post: Rather Than a BUNCH of books- why not master 1?

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Joe Villeneuve:
Quote from @Grant Shipman:
Quote from @Joe Villeneuve:

The more you know, the more opportunities you can turn into deals.  Not every "book" applies to every deal...no matter how well you know it.  The one thing in life that has no limits, is the size of your "box".

The winners in life, and in REI, are the ones with the biggest box.


 I totally agree.  How do you pair that w/what Bruce Lee said? 

 I don't.

Bruce Lee would make a terrible REI


that's hilarious. I'm guessing the dude would probably have crushed it in REI like he crushed it in martial arts and business. Have you heard that guys story? wowz!

Post: Pros and Cons of using a Mortgage broker

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Chris Mason:
Quote from @Kevin Pfeil:

@Grant Shipman thanks for the input! So if I am reading your post right, since most MB can't get a portfolio loan and you're saying that an FHA loan is normally a portfolio loan, will a MB be able to find a FHA loan for me? Or did I misinterpret that? Love the name "beyond house hacking strategy" btw and glad it's something that has worked for you for a while now!

FHA loans are not portfolio loans, and mortgage brokers do them just fine, heh. The term "portfolio loan" is regularly abused on these forums (whenever someone has some crazy high risk loan scenario with a >90% chance of borrower default, the comments are always full of "abracradabra, waive a magic wand, get a pOrTfOlOo loan, and you're problem is solved!"), so mostly just disregard any post you see using it.


Yes, to confirm FHA are not portfolio loans, and I never intended to say they are. I don't understand why you are saying MB's can do portfolio loans- are you saying mortgage brokers hold the loans in their portfolio? If so, I would say the MB is a lender rather than an MB.  I understand that MB's can do all kinds of things w/private lenders, but I don't usually refer to these as portfolio loans.  You are helping me understand that "portfolio loan" can be a clay term in the real estate world, so it's helpful to define this term when it comes up in conversation.  I'd love to hear your thoughts. 

Post: Can I rent my car to my property management company?

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201

Any attorneys or risk managers out there that have knowledge on this question?  I had an extra family car, that I want to be full time dedicated for use by my PMC staff. I know I could sell it and retitle it into my PMC, but I was interested in the rental option. 

Post: Rather Than a BUNCH of books- why not master 1?

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Chris John:

I truly believe I learned as much about plotting real estate deals by playing Dungeon and Dragons as a kid as I did by reading real estate books, etc.  Anyone can learn rules, but decision making, thinking outside the box, working with others, building a team, etc. are more important skills in my opinion.  And, in my opinion, playing D&D actually helped build those skills.

Ladies, sorry, I'm already married.  You're gonna have to go looking for your D&D guy in some other basement.  haha.


This is so true and hilarious! I think it is important to learn specifics of REI play just like DD specific play, but the most important REI success skills truly have little to do w/REI. Seriously, thanks for the laugh w/your last line!

Post: Rather Than a BUNCH of books- why not master 1?

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Joe Villeneuve:

The more you know, the more opportunities you can turn into deals.  Not every "book" applies to every deal...no matter how well you know it.  The one thing in life that has no limits, is the size of your "box".

The winners in life, and in REI, are the ones with the biggest box.


 I totally agree.  How do you pair that w/what Bruce Lee said? 

Post: Rather Than a BUNCH of books- why not master 1?

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Chris Webb:

I re-read the KW books every few years, MREI and "Hold", they are great for strategy. I think this concept can be replaced by YouTube channels like Pace, One Rental at a Time and others. That way you get weekly content with similar foundations. 


 I was totally considering "Hold" as well, if I was to pick one.  

Post: Pros and Cons of using a Mortgage broker

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Kevin Pfeil:

@Grant Shipman thanks for the input! So if I am reading your post right, since most MB can't get a portfolio loan and you're saying that an FHA loan is normally a portfolio loan, will a MB be able to find a FHA loan for me? Or did I misinterpret that? Love the name "beyond house hacking strategy" btw and glad it's something that has worked for you for a while now!

I'm so sorry to take so long to answer. Me and my family got the Christmas plague for a few weeks. My bad if I was confusing, a MB will be able to get you a FHA loan (my MB's have gotten multiple for me and my investors). Also- not all MB's are created the same. @Eliott Elias mentioned that MB's make their money through points, and this is not always the case.  They also can charge no points and get money by slightly increasing your interest rate.  Other MB's get paid by lenders (these are few & highly accomplished) and do not charge you points nor increase your rate.  I'm happy to connect you w/my MB if you pm me- I think he is licensed in AL.  

Go live your day dreams brother!

Post: Eager to Learn and Get Started

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201
Quote from @Benjamin Gross:

Wow!

I underestimated how many of the Bigger Pockets community would respond and offer advice. Thank you to all of you who have already commented and all of you who will comment in the future. The willingness to help a beginner from Bigger Pockets is making it even more exciting to get started.

Wishing you all the best for 2023 and beyond,

Ben


 Go kick some *** and keep us posted!  There's a lot of money to be made out there, and your bank account is an indicator of how much you are helping people. 

Post: Why did Bigger Pockets choose RentRedi?

Grant Shipman
Posted
  • Rental Property Investor
  • Estes Park, CO
  • Posts 276
  • Votes 1,201

@Henry Paschall- I was TOTALLY thinking the same thing.  I have reviewed every PMC software that I'm aware of (except 3 newish ones), and I am still sold on RentecDirect.  They have free ACH rent payments, CC payments for a low processing fee, owner & tenant portals, customization, marketing, online signatures, online apps, online screening, and more.  Their customer service is the main reason I chose them (over similar like Biuldium for example).  I think RTD is the best for 10 or more properties. Less than 10, I recommend Apartments.com or equivalent freeware.