All Forum Posts by: John Dunham

Hey BP,

Just checking in. I've been reading a lot about goals recently and it has me thinking, "As we grow, should our strategies and goals grow too?"

For a lot of us, our end goal in life is Financial Freedom. But how do we get there, and what RE strategies do we pick along the way?

I see that money is grown in three stages:

1. Acquire Capital

2. Grow Capital

3. Preserve Capital

As we move from 1 to 2 and 2 to 3 does it make sense that our strategies would change? For instance, at 1 maybe we flip houses, at 2 we invest in multifamily for cashflow, and at 3 we start looking at tax strategies as ways to structure our wealth to preserve it for the long haul.

I’m constantly seeing people say pick a strategy and stick to it, be a master of one, not a master of none. But should the strategy change?

Just a little discussion piece, comment below your thoughts!

I’m in the Chattanooga, TN and Memphis, TN areas if anyone wants to meetup for coffee and mastermind don’t be afraid to reach out!

Thanks @Account Closed, for the advice. 

Crazy Idea here:

I'm a college student and I currently make $2K/mo and live off of $1K/mo, so as you can see it takes a while to save up. I managed to save a lot by going to a local landlord who I knew had a vacant property he was trying to get rid of and offered to stay in the place and fix it up for him if he would cut me a deal on rent. So i'm living there paying $250/mo in rent. Which got me thinking, if I can do this what else can I do?

I started to realize that bringing value isn't really that hard at all. 

I really want to learn as much about real estate as I can before I buy my first deal, I already work for a Broker as a runner and marketing assistant, so I see that side of things as well. 

Here's the question: Should I go to local investors and offer property management services at a discount just to get my feet wet and see what it's like?

@Eric Marofske @William Allen @Elbert D. Thanks so much for the advice! I've attended one of my local REIA meetings so far, the meeting was about goal setting and fortunately the guest speakers goal for the year was to help someone with their first deal. I talked with him and he seems willing to mentor. The investor has plenty of references and a large portfolio so I think he is credible.

Hopefully, I can turn this new contact into a meaningful relationship!

@William Allen Thanks for the advice! I'm certainly hoping to go down that track!

Hey BP,

What tips or advice would you give for a college student just getting into REI? If you could start over from 20 years-old how would you go about doing it?

Thanks!

John Dunham - Chattanooga, TN

Hey BP,

My name is John Dunham and I'm new here to BP but I have read some of their books and listen to the Podcasts regularly.

I'm a student at UTC and I'm really looking forward to finding my first deal in the next month! I'm really looking at the Highland Park area. I'm also hoping to network and get to know some of you in the area! 

I'm really interested in flipping houses and once I get established to get involved with cash flowing properties!

Lets get started!