All Forum Posts by: Jonathan Warner

Hello all. I’ve been self-educating  about real estate for about 4 months now. I’m starting to lean more towards private lending as a way to get my toes wet and get my money working for me in a relatively stable way.

I’m looking for educational resources or literature. Any help would be greatly appreciated. 

Quote from @Dan H.:

1) cannot qualify for traditional financing

2) fears appraisal will come in low

3) fears buyer will back out so reduces contingency options

note for cash purchase I expect a significant discount.   Is the property priced appropriate for a purchase that does not permit financing?

Good luck

It’s listed for $220,000 and on has been on the market for 1,300 days. Is be happy to send it to you in DM if you have the time to offer any wisdom! 

Quote from @Benjamin Aaker:

This seller feels like he has a good position to turn down people who need to finance. If you are in that boat, nothing is stopping you from making an offer with a financing contingency. You'll have to make your offer appealing in some other way. Look for how long this place has been on the market. Longer times mean he is more likely to deal with you.

 Thanks for the reply. Out of curiosity, what would you offer to make it more appealing if I did decide to offer with the financing contingency included?

Quote from @Greg Parker:

Cash buyers will be serious, not just wasting his time with offers, 30-45 day closing delay, inspections, appraisals.  If title is clean, a cash deal can close in 7-14 days.

Thank you for your reply. I suppose if someone wanted to finance it that they would have to line it up before making an offer? Or is it that you really need to buy the house free and clear and that’s your only option? 

Hello. I'm perusing through some online listings for multifamily in my area. I noticed a triplex that seemed to have an interesting bit of information in the description.

"Only cash or cash equivalent contract considered. No contingencies for financing. Owner is a licensed real estate broker in the state of Alabama. Owner is acting as listing agent."

Why would an owner/listing agent make this stipulation? It just seems odd to me. Thanks in advance. 

Quote from @Greg Parker:

Real Estate Wholsaling bible by Than Merrill

The classic, Rich Dad, Poor Dad

Buy Back Your Time - Dan Martel

Thanks Greg 👍

Quote from @Nathan Gesner:

Quote from @Jonathan Warner:

A lot of YouTube experts push the idea that everyone should invest in real estate, quit their W-2 job, and retire by age 27. It's ludicrous. Most of those "experts" will be gone when the masses finally realize they're being sold trash.

Listen to the David Greene podcast on YouTube, Spotify, etc. He gives real advice for real people, and he doesn't shy away from the ugly realities of how hard it is to be successful. He's the best teacher out there that I'm aware of.

I would also be careful with books. A lot of modern books are full of fluff and thinly veiled attempts to sign you up for a coaching course, buy another product, or buy their next book which will reveal the "secrets" they failed to include in their first book. I prefer older books that are packed full of everything you need. One of my favorites is The Unofficial Guide to Real Estate Investing by Spencer Strauss. It has more practical information that almost any book written in the last ten years. It's out of print but you can find used copies.

 Thank you for the advice. I have been having some alarm bells going off in my head about those real estate influencer types recently. Especially when it seems like their revenue comes more from coaching/selling educational materials rather than actual investing (judging by the amount of time in effort they put into it). Glad to hear someone else validate it. 

Thanks for the recommendation. The book is in the cart now 👍

Quote from @Clayton Smith:

Quote from @Jonathan Warner:

Hello all,

This is my first post on BP. I live in Tuscaloosa, Alabama and I am looking to begin real estate investing in the next year. 

Long term goals: Create a portfolio of commercial properties to generate passive income to beat out the returns (about 8%) of my current stock portflio by a significant enough margin to make it worth the effort.

Short term goals: Fix and flip a property in my local area to get my feet wet.

I understand the three major assets to bring to the table for this venture are capital, time, and knowledge/experience. I am trying to gain more knowledge right now before I start. Once I start I will begin with a flip to gain more experience. I dont have any other plans to bridge the short-term and long-term goals mentioned above.

I have enough money but I'm lacking time and experience. A lot of the literature comes from the perspective of replacing a W-2 job. To be honest, I need a different perspective that is more in line with my goals. I'm looking for something more along the lines of diversifying my more stock-based investment portfolio in a more active way. However, the end goal is to systemize in a fashion that will allow more passive involvement while retaining enough ROI to beat out my stock portfolios. I understand that, at the beggining, I will need to be more active and I'm willing to put in the time and effort for the first year or two to get to that point.

I am also open to the idea of syndications, private equity pool funds, and private lending in the future. But I have no immediate plans to get in involved yet.

Any pointers or literature reccomendations would be greatly appreciated. Thanks in advance!

,West

 Jonathan, 

I also live and invest in Tuscaloosa and hold a full time W2. I am mainly LTR rentals with a mix of student and section 8 type properties. I also recently purchased my first commercial property over the summer and am in works on a few other larger projects. As well as a steady stream of flips for the past 36 months are so. 

Feel free to connect and message me. I always enjoy meeting local investors. 

I would recommend cash flow quadrant by Robert Kiyosaki. It provides a proper framework on how to be an "investor" vs having a job disguised as an investment. 

 

 Hello Clayton,

Very cool, I’m happy to connect. I’ll shoot you a message. 

Thanks for the recommendation. It’s in my cart 👍

Very helpful, thank you! I just ordered them. Will try to update after they are read. 

,West

Hello all,

This is my first post on BP. I live in Tuscaloosa, Alabama and I am looking to begin real estate investing in the next year. 

Long term goals: Create a portfolio of commercial properties to generate passive income to beat out the returns (about 8%) of my current stock portflio by a significant enough margin to make it worth the effort.

Short term goals: Fix and flip a property in my local area to get my feet wet.

I understand the three major assets to bring to the table for this venture are capital, time, and knowledge/experience. I am trying to gain more knowledge right now before I start. Once I start I will begin with a flip to gain more experience. I dont have any other plans to bridge the short-term and long-term goals mentioned above.

I have enough money but I'm lacking time and experience. A lot of the literature comes from the perspective of replacing a W-2 job. To be honest, I need a different perspective that is more in line with my goals. I'm looking for something more along the lines of diversifying my more stock-based investment portfolio in a more active way. However, the end goal is to systemize in a fashion that will allow more passive involvement while retaining enough ROI to beat out my stock portfolios. I understand that, at the beggining, I will need to be more active and I'm willing to put in the time and effort for the first year or two to get to that point.

I am also open to the idea of syndications, private equity pool funds, and private lending in the future. But I have no immediate plans to get in involved yet.

Any pointers or literature reccomendations would be greatly appreciated. Thanks in advance!

,West