All Forum Posts by: John E.

Hey @Angelo Lombardi ! So your out in Bristow, Va (near manassas right?). That's great because I'm also in the DMV area (Falls Church, VA) and I began my real estate investing journey a few months ago on BP. I've been loving it so far & I have no doubt that you'll be loving it too! There are deals to be found & we have 2 states and a district to look for them in! Where do we start? lol.

"Building a network of like minded hardworking people."~ If that's the case then I think you've come to the right site!

@Chris Winterhalter Duh! What was I thinking! Securities and exchange commission! So they can regulate the sale of securities & raising capital, but anyone can buy a property if they follow the laws. Got it!

Isn't the ability to buy and sell property outlined in the constitution? I think it's called free alienation of property. I remember taking an online course that referenced this.

Oh and thank you Chris for the compliment! Kind words from experienced investors that are living the dream means the world to me.

Welcome @Dan Kieres to the BP nation! i think you'll love it on this site. Unlike a lot of newbies on this site (including myself of course) you've got some results in this game! Congrats! I'm a 100% sure w/ that among novel ideas, quick tips, and great insights from the podcasts (my favorite ever!), blog, and forums your business will explode.

My mind explodes everytime I come on this site to learn, network, and grow as an investor and person. Hopefully it'll do the same for you!

Enjoy!

@Chris Winterhalter You mention that those who invest in commercial real estate have deeper pockets, so is there any restriction on who can or can't invest in them. Obviously a bank would want to see your financial statement or other indicators of your financial IQ (right?), but is there any limit SEC wise preventing non-accredited investors from investing?

I'm just curious and not investing yet (I'm 15)... Thoughts?

@Joshua Dorkin I think you need to check this out! Detoit, government officials, and profits don't seem to fit well in a sentence, but in this case they do.

Can these Detroit officials be brought on a podcast and shown some love? The $20 dollar bill in my pocket is sizzling. How about yours?

In all seriousness~ How?!?!

Ok @Josh C. , "steal" isn't the right right deal. How does "in order to get a great deal you must take action promptly". Yea, I'm definitely not a believer in "cutting to the bone" if that's what it sounds like. I have a family friend w/ the mantra "in life, as in business, you need integrity above all else." He never really says it in words like that, but that's how I'd articulate it based on his actions. There is definitely a line that needs to be drawn between maximizing business profits & hoodwinking a naive seller.

And thanks! The sooner, the better! I want to retire financially independent as soon as possible.

If I were you I'd try and get this property bought quickly. Always remember that you can't steal in slow motion. Call her back and give her an offer that you may be really embarrassed of after looking at the property with a GC. Get this thing lined up with your end buyer ASAP.

If she questions your offer price then keep on shelling out statements regarding why it's actually great for her. I.E~ "We can get cold, hard cash in your hands in XYZ (short time period) weeks." or "If your property sits on the market for too long it will cost you a lot." or "Another buyer may not be able to handle repairs."

Hopefully that helps... Steal and do it quick!

oh yea and @Kenneth Huddleston , I also am a big believer in using profits from wholesale deals and flips to acquire rentals so that I can build LONG TERM CASH FLOW! I love it guys!

@Damon Armstrong Awesome! I'm definitely sending out requests to both you and @Kenneth Huddleston !

Wait- So we can get our names signed AND back out of the contract at anytime while it's in escrow. So wholesaling is a possibility!

I don't want to send out any direct mail yet (I haven't even gone to a REIA yet... No buyers yet), but how wouldn't want to do business- title companies, motivated sellers, and/or the end buyer?

Now there's no excuse!

Talk to you guys soon and we've GOT TO STAY IN TOUCH!

- John

Hey Kenneth! I'm John and... I'm 15. So I think I know first hand the frustration of BEING SO YOUNG! I'd say that if you can get a legal face to work with you I would be awesome! @Jimmy Moncrief has a nephew around our age all ready to properties due to seller financing! I would network to because "your net worth is equal to your network."

Perhaps you can get a job and have some funds for down payments, direct mail marketing, catching up a motivated sellers payments (bring the mortgage current), gas, and more of the costs that gurus don't mention.