All Forum Posts by: John Slater

My advice would be to try and find local investors who are willing to look at possible leads for you that you might find.  There's no reason why you can't start in this business but right now you are in need of some serious leverage!  (i.e. people with money) You still have leverage to bring to the table, it might not be so much as to be able to split deals with a great return, but if you were able to start and make 3000-5000k for bringing in a lead that turns into a deal it would definitely be a start and help you get things moving faster, not to mention learning some valuable things about finding leads.  Working towards 'being ready' in 2016 is a long way away and going after your license isn't something for me.  Vegas is a booming area and the bubble could burst again (maybe not as bad as it did) but 2015 is a big year for investing for many reasons.

I'm now nearly two years with the club. Joined first and then took some training. I guess I was lucky this was the first place I found and didn't waste money on other systems. This place has changed my life and I couldn't be happier. I'm at the club all the time, staying plugged in, repeating some of the classes and get to be around real people doing deals every week. For those who think it's not real that's fine, stay where you are and find something else. REI is for serious people. I had zero knowledge when I started, now I'm a full time investor enjoying life, so yes of course I can say it's real :)

Daniel Pierson any reason for thinking out of state? I get you may not want to look in LA, although there are some great deals there. The way I see it is to venture out of state means you have to have a good knowledge of the market in that state, learn laws etc pertaining to that state, and to invest in a property that isn't driving distance can cause major headaches. Out of state in Vegas, or AZ is one thing, but further a field than that would be too far for me.

@Julian Robinson 

HI Julian, I know what your getting at... For me it was a friend who reminded me that 'even a wood-cutter has to stop to sharpen his tools, otherwise he ends up bashing with a blunt blade' lol... bit corny I know, but my suggestion is to include time in your day or week to let your mind go away from real-estate.  When business is going good, its easy to continue blowing your mind with more and more, but when business becomes difficult, getting out and clearing your mind should really be a must.  I don't know about you, but my goal is to make enough money to be able to enjoy life..... Not in 30 years, but to enjoy life now!  If I don't stop remembering that, then suddenly time passes by that you don't get back. Just my thoughts....

@Sherrie Brown 

Hi Sherrie, as a new investor, why Multi family?  and are you just looking to buy, flip and get out? or looking to hold it for rent?

Reason I ask is that until you really gain the experience you need, I would recommend starting with a SFR and getting a couple of flips under your belt. That way you get a better understanding of the processes and what is needed, added to the fact that whoever you use as your lender will be able to see your track record before investing their money in something larger like a multi. If on the other hand you were looking to invest, then hold and rent, then i'd absolutely suggest still starting with SFR's (unless your pockets are deep to deal with possible $$ issues with tenants). I'd always suggest making sure your bank account is over-flowing before taking on a multi..... but thats just me, good luck :)

@Christine Lovett 

I would have called you back if I knew you were an investor, however I kinda get why people didn't.  Fielding calls from the signs takes up a lot of time and I'm sure your the same with this but time is valuable.  If I get a message that is clearly someone not looking to sell, making that call would stop me from possibly making a different call to someone who does want to sell.....

@Matt Chestnut 

Is the property in foreclosure?  If so then the only thing I would do is potentially follow it to auction and try to pick it up there, assuming I had at least some knowledge of the inside and what was needed.  On the short-sale side of things, correct, not a lot you can do unless you get them to sign again.

Hi Shymira. The OC is a tough place to start out your investing career unless you have plenty of cash under the mattress :) I would definitely suggest trying outside of the OC first. Happy to answer any questions you might have, drop me a line

It's not easy finding a money lender at good prices until you get to know them and they get to trust in what you know. Hard money will cost you more but definitely don't pay anything to get it. They will be making more than enough on their money that anyone who says they need money up front is clearly suspect...... Kinda like the crazy spam emails from Africa promising millions for just a small investment :)

Hi Kevin. If you have little experience in real estate then my best suggestion is to get with people that do know. Finding those people are tough but I got lucky and found a great group that I learned from, yes I share my deals with partners, but I got lots of support when I started to learn what to look for and what to stay away from. That's where I'd start. There is some good profit margins in SD, of course knowing what to look for makes that easier.