All Forum Posts by: Gregory Guillet

Why invest in real estate?

After all, there are lots of things to invest in -- stocks, bonds, precious metals, collectibles.  What makes real estate so attractive to you?  Is it because it's tangible -- you can ride by and look at your investment?  Is it because that's what you heard rich people invest in?  Because it's "passive"?

If you're already a successful real estate investor, why did you come this route?

If you're hoping to enter this field, why?  Why not all the other ways you could make money or invest your extra savings?

What are your hopes and dreams about owning investment property?

Does anyone actually go and visit prospective tenants at their current resident to see what kind of shape it is in and how well its taken care of? I started doing this if im not 100% sure about them. Some of them don't mind me going over and others look at me weird when I ask to visit them.

Did you ever visit a prospective tenant before and do you thinks it a good or bad idea?

Hi BP,

I have been looking around in CT (upper mainly) and found out that I am the only one that is Asian. I found a great place which I think can generate passive income however am not sure about my surroundings. Will I be the center of attention, or be outcasted? I want to make sure what I am getting into before I take the next approach. Has anyone encountered this  before?

thank you.

Good for You!!  It's a shame what some Contractors do!  Now image you are a Woman in this business,  he would have tippled the price he gave you!  I have to ask my male friends to come over some times when I get quotes!  I always do my research on new jobs down to watching an expert do it on YOUTUBE if I can.  Now a Day I give them the option of what I will and will not pay letting them know if they don't want my money some one else will.    

I am 22 years old and I make $31,000 a year and have about $12,000 in debt...I've been reading a lot of blogs and articles and I think I want to start investing but I'm not sure if its right for me in my financial situation. Any help and advice would be much appreciated. :) 

Attention skeptical wannabe landlords who think there is NO WAY rental property expenses run 40-50% of income, or that rent minus PITI = cashflow. This post is for you:

I always dread the first few hot days of summer.  I just know my phone is going to start ringing and my checking account balance is going to get smaller.  Within about 2 hours yesterday, I received calls from tenants at 3 separate houses saying their central air conditioning was not working.  They were all older A/C units, and I was limping along hoping to get another year of life out of them. 

After sending my HVAC guy out on the service calls, he calls me at 8 pm to let me know that all 3 units are shot, and that he didn't think it was a good idea to dump any more money into them.  I take a deep breath and ask the question, "How much?".  He tells me that the replacement cost would be $2,700 per unit, or $8,100 total.

Ouch.  This is a major reason that most newbies do not last in this business.  In just one day, 2+ years of $100/door cashflow was effectively wiped out on 3 separate houses.  This is why it is SO IMPORTANT to allocate your income for inevitable expenses and repairs.

While it really sucks to have all these hit in a short period of time, if you are properly capitalized with an adequate maintenance account, these types of expenses can be absorbed as a cost of doing business.  And remember- just because you have gone a couple years without any major expenses, all that means is that you are all the more likely to experience those expenses in the near future.  

What about you?  Does your business have enough in reserves to withstand the A/C unit trifecta in one day?  I know mine sure didn't when I first started buying rentals...

Hello to my friendly BP’ers! 

My name is Charles Tucker and I am a lifer in the Dallas, Texas area. I am pursuing my dream of investing in real estate! I was originally introduced to real estate investing by the incredible Carlton Sheets. Remember him? I have seen many tapes, informercials, and reality shows and I still feel I don’t have all of the answers. I am looking to invest in real estate in the DFW area of Texas but, specifically in the cities of Mesquite, Irving, Greenville and even Spring, Texas. I know that is a wide range but, I have reasons for each of those areas.

Unless I'm able to get involved in multi-family properties right away, my goal is to fix & flip SFR's for about 2-3 years to create the capital I need to start buying & holding them for passive income. When I start holding SFR properties, my goal is to create lease-to-purchase opportunities (or other similar exit strategies) for those first time homebuyers and/or others trying to get back into homeownership that are unable to do so successfully using the more traditional manner. I am interested in tax liens and tax deeds but, I feel that strategy is a little farther down the line.

I am currently employed but I'm ready to be on my own since that job will not help me reach my goals. I created my LLC last year with hopes that will be the first of many challenging and successful steps. I came to know BP through a real estate investor from Austin who comes to the Dallas area often and I noticed some of his Facebook posts came from BP, so I had to check you out………and here I am! After experiencing a few webinars, reading the information and seeing the interaction from this site, I feel I can find the information and the successful people I need to help me complete any missing parts to my team and who can guide me to the success I am looking to become.

In closing, I usually carry around a quote from the late Casey Kasem with me to keep me grounded. He would close his radio shows with this quote, “Keep your feet on the ground and keep reaching for the stars.” My feet are on the ground. It’s time I reached for the stars!

Will you help me?? 

Hello BP Fam!

I'm an extremely new aspiring wholesaler about to launch my first mailing campaign.  I was going to use listsouce.com to get a mailing list and then use the yellow letters.  Looking for some good orderly direction.  

1.  What would you recommend as the best criteria to focus on when getting the list from listsource?

2. Can you recommend the most effective place to purchase your yellow letters and any styles you recommend?

Thanks in advance for your help!