All Forum Posts by: Jonathan Chan

@Jay Hinrichs It just depends on the deal. If you're helping me fund a section 8 SFH, then no. I have other money that'll cost me 10%. Either way, I appreciate you responding to my posts on this thread and the other.

Oh right...partners....what asset classes?

I'm actually in the subto group and it's not a scam. I'm curious to see what experiences Mike's had within the community. I'd be happy to jump on a call or even a zoom to show you what's available.

@Jay Hinrichs

Thank you! I appreciate it.

I see a JLH Capital partners logo in your signature. What types of lending do you do?

6 of the 7 land flips were self financed (partnered with a subto student) and sold to end buyers seller financed. I JV'd with another person on the 7th to sell it. 2 LTR purchases were the BRRRR method, which were my last two BRRRRs. I partnered with another subto student for the wholesale deals and we split the assignment fee. I have another subto student i'm partnered with and we're buying straight off the MLS for section 8 housing. We have 4 under contract with one closing this Wednesday.

The moral of the story is, yes, creative finance is one of the things that is taught. However, the power is in the community. I would not have have the 2 wholesale deals completed with 3 more PA verbally accepted. 

It really depends on what your avatar is. I have a demanding W2 with a wife and two young children. I don't enjoy nurturing and closing sellers on a regular basis. I found my path in the real estate world and it's because of the wide variety of education I received from the subto training videos and community.

7 land flips, 2 purchases for long term rentals and 2 wholesale deal closed.

I haven't done any subto deals, but I've completed 11 transactions within the mentorship and have 2 more under contract for purchase. It's a good question, because it's a subto mentorship geared towards creative finance, but there are modules for everybody. I think the biggest issues I've had in the past with other programs is that it's a one size fits all and that's simply not the case. I own a consulting company that takes up a lot of my time as well as a wife and two young children. My availability is not the same as everybody else's, so being told to man the phones is quite difficult. I lost a lot of opportunities due to poor follow up. There are other ways to get into real estate that don't require you to make phone calls to sellers or agents directly. The avatar series is specifically why I joined the community. I hope that helps.

I'm not typically one to write posts, but wanted to talk about my experience with the Subto mentorship with Pace Morby. I had already joined two other programs that didn't really work out the way I had hoped, so I was pretty skeptical. I did a lot of research in the form of listening to watching his content. It seemed pretty obvious to me that he put a lot of effort into helping others, just based on the fact that he had 7, 8, 9 hour zooms on weekends to answer questions and just hangout. I took the plunge and joined about a year and a half ago. Like many others, I wasn't really active until recently. The amount of information he and his team provide is unbelievable. The value you get is 10 times what you pay and is by far the best program I've been part of. It's not just the content, but the culture that he's built. It really is about collaboration and not competition. Nothing was more evident than going to the mastermind earlier this month where you had people new to real estate talking and building relationships with people who have been in the industry for years. Everybody was super friendly and seemed to genuinely care about you as a person. It's the first time I've ever felt so welcomed by strangers in a room. I cannot recommend this community enough.

@Theresa Harris

I think I should have clarified that I ran out of down payment and reno money, meaning I got to a point where I didn't want to over leverage myself and put my family at risk. The money I put aside covers what I need. I'm not currently in a position where anything needs to be sold. It's more about finding the 1 bridge I should focus all of my energy on.

Hi Everybody,

I'm not really new to BP, but rarely post. It always feels kind of weird to talk about yourself, but I'm at a point in my real estate investing career that I'm sure a lot of people get to or will get to at some point.

My story is, last year the pandemic kind of freaked me out. What was I going to do if my wife or I lost our jobs. How would we provide for our family? At that point, I was already managing a few properties in my area for my family. It was at that point I decided to jump headfirst into real estate. I spent the next 2 months listening to audiobooks, podcasts and youtube videos during my W2 hours, in the shower, in the car and whenever else I could absorb information. In the 3rd month I closed on my first 3 properties outside of my market and closed on the 4th one 3 months later. I was happy, but unsatisfied because I ran out of reno and down payment money. I jumped onto an app called Clubhouse in search of a new way. I had heard there were ways to pick up houses with little to no money down. After spending the next 3 weeks on the app day and night, I hooked up with a creative financing program. I had some early success and was able to get 4 houses under contract over the next 4 months. At the same time I picked up two more houses to do the BRRRR method. Fast forward to now, I have another house under contract that needs a ton of work. While it may seem like I'm doing well, I'm actually doing everything quite poorly. I'm not able to focus on one route. I'm building too many bridges at once and it's definitely not sustainable. I'm addicting to getting the deal and moving on before the work's been complete. I take on too much and I'm not sure how long I can continue this.

• Full time W2
• Managing 6 properties locally
• 2 Reno's
• Mailers to find motivated sellers
• Managing VA cold calling to find motivated sellers
• Managing VA setting up Website and evergreen marketing
• Family quality time

I guess my question here is, what do I do now? I know I have to pick one thing and stick to it. How do I determine which one it is? I understand that's a question that only I can answer, but are there things I can do to find out what I should be focusing on and what I need to drop? How do I find that one thing?