All Forum Posts by: Jordan Thibodeau

What's the rush @Tyler Hogan ? I would still max out your Roth and pay down your debt. We are in the late stages of the RE cycle and I don't think you should be overextending yourself.

It's one thing if we were in the depths of the recession and RE deals were appearing left and right, but now there's no rush. You need to diversify your tax liability by having pre-tax and post-tax investments, because if you really believe you're going to hit financial freedom by the time you retire you should be in a much higher tax bracket so paying into a Roth now while your taxes are lower not only makes good asset diversification sense it makes great tax sense too. 

I wrote about the FOMO rush in real estate in my l onger blog post that could be helpful for you.

We just recovered from one of the worst financial disasters since the depression. Because of this most millennials (gags at saying the word, im going with gen Y now) entered a terrible jobs market saddled with debt. Gen Y isn’t choosing to not buy home, they are be forced to due to their financial decisions. 

Why should you own a home?

• Protection from rent inflation. Owning a home can be seen as protection against rent inflation. Imagine if you had the opportunity to buy homes in the silicon valley back in the 1970s. My dad picked up homes for 20k a piece. Now those homes are selling for $1.5M and rent is $5k. If he would have said, “Nah bro, im good ill rent.” His retirement would have been crushed by current rental payments.
• Less landlord drama. Do you want a landlord dictating what you can and cannot do to your home? No one does and after a while it can get tiring so you’ll want to control your own destiny by owning a home.
• Why flush rent payments down the toilet when you can build equity. A home for your own personal consumption isn't an investment, but if you had the opportunity to build equity that you or your heirs could tap into down the road, wouldn't you want to?
• When you raise a family you want space and privacy.
  

Assuming the economy doesn’t implode we will begin to see more gen Yers home ownership rate will fall inline with previous generations. We are already seeing this happen in some markets. 

@Bryan Jacob Heilman sorry to hear that. Can you privately message me the details of the event? Sometimes you can find clues to what the organizer's true intentions are based on a quick background check. Typically I do a quick background check on the speakers and event organizer before getting involved. Based on that you can determine the organizer's bias or what they will probably pitch you on. 

I wrote an extended post on the  BP blog on how to build your Real estate network, it should be helpful for what you're trying to do.

As far as wholesaling in this market, things are pretty pricey. You would probably be better off if you save your money, network, learn more about buy and hold RE, and once the correction happens, deploy capital then.

@Christopher Christian I wouldn't do it. Has anyone at MM told you that an MBA is a requirement for getting a role there? If I was you, I would work on building a relationship with MM's local branches, stay engaged, go to their events, and let them know that's where you want to work. You would be surprised what happens when people know how hungry you are to work there and learn the trade of real estate.

You're mixing correlation with causation. The people who join these MBA programs are already smart and have solid skills so despite the MBA they will still be able to earn high six figure salaries. I went through this exercise after taking a mini MBA program at Stanford before I landed a role at Google. The MBA is not prevailing cause of the earnings potential of MBA grads. For instance, at Google, a few employees are already working six figure jobs and decide to get a night MBA while working at Google. After they graduate the MBA program, they will still be in the same Google roles, BUT the MBA Programs will count their Google job as part of their post MBA salary.

In this day and age, masters degrees outside of STEM and maybe psych, are becoming less and less important and are facing downward pressure from online institutions. Being you have so much work experience, the MBA isn not as important as it would be for a Jr employee with 3-4 years of experience that's trying to make a complete career shift. If you told me you majored in physics and want to career switch to project management or get into tech, I guess you could make an MBA argument.

If you want to work at MM they are looking for people who are fresh out of school that they can train or people who already have real estate experience. You could join MM with your experience profile, but it would require either a slight paycut (assuming they ignore your excellent experience on corp finance). BUT that initial paycut will be lower than the costs involved of getting your MBA. You're looking at 100k to pay for it, but then foregone investing opportunities, housing, and earnings, can be much higher.

Most MBA are general programs with standard operations, marketing, finance, and sales classes, with a few real estate classes. You would probably be better off just going for a certificate course specifically on real estate than going for the full MBA. As you age, the value of an MBA for a person in your situation greatly diminishes. 

I would think harder and not use the MBA as shortcut for hard work. The MBA admin team will try to convince you this will solve your issues, but there are no guarantees, compared to you doing the hard work necessary for MM considering taking you on. 

Hi Everyone,

My name is Jordan Thibodeau (Linked In Profile). I'm a blogger at BP. Also, I was on BP podcast show 74 and I interviewed Jay Papasan.

I'm back in the hunt for investment property in the Sacramento Area. I'm looking for multi family properties in the Sacramento Area. I'm focused on zip codes: 95816, 95817, 95819, 95820, 95822, and 95824

Price: I'm not spending more than $250-$350k for a multi family property in Sacramento.

What I Promise You: If you send me a deal that fits my criteria, I will respond to your lead within the same day so long as your lead meets the aforementioned requirements.

If you bring me a deal, I promise I will complete the transaction with you and I will NOT pressure you to lower your commission or finders fee. If you're realtor you can represent me as my agent.

If the deal meets my criteria, I will close, and I WILL NOT ask for no money down financing.

Help me find a property and I will be happy to refer you to my network of tech professionals that are eager to get started in investing.

How Can You Contact Me: Send me a BP message or text me 408 661 8741.

Hi Everyone,

I'm looking for a plumber to help me with a job at my duplex in Sacramento. 

Please reach out to me if you're looking for work.

Thanks,

@Filipe Pereira This beautiful man speaks the truth. I always ask people to fill out a Google Form before I even consider getting on the phone. It's a great to way to filter out the tire kickers and save your time.

Hi Everyone,

My name is Jordan Thibodeau (Linked In Profile). I'm a blogger at BP. Also, I was on BP podcast show 74 and I interviewed Jay Papasan.

I'm looking for land to develop a multifamily property in Sacramento. Needs to be zoned R-2 or R-1 located at the corner of a block.

What I Promise You: If you send me a deal that fits my criteria, I will respond to your lead within the same day so long as your lead meets the aforementioned requirements.

If you bring me a deal, I promise I will complete the transaction with you and I will NOT pressure you to lower your commission or finders fee. If you're realtor you can represent me as my agent.

If the deal meets my criteria, I will close, and I WILL NOT ask for no money down financing.

Help me find a property and I will be happy to refer you to the 1,100+ strong real estate investment group I founded. This group is comprised of full time tech employees that are interested in Real Estate investing.

How Can I Contact Jordan: Send me a BP message or text me 408 661 8741.

Hi Everyone,

My name is Jordan Thibodeau (Linked In Profile). I'm a blogger at BP. Also, I was on BP podcast show 74 and I interviewed  Jay Papasan. 

I'm looking for multi family properties in the Sacramento Area. 

Price: I'm not spending more than $250-$300k for a multi family property in Sacramento.

What I Promise You: If you send me a deal that fits my criteria, I will respond to your lead within the same day so long as your lead meets the aforementioned requirements.

If you bring me a deal, I promise I will complete the transaction with you and I will NOT pressure you to lower your commission or finders fee. If you're realtor you can represent me as my agent.

If the deal meets my criteria, I will close, and I WILL NOT ask for no money down financing.

Help me find a property and I will be happy to refer you to the 1,100+ strong real estate investment group I founded. This group is comprised of full time tech employees that are interested in Real Estate investing.

How Can I Contact Jordan: Send me a BP message or text me 408 661 8741.

Hi Everyone,

My name is Jordan Thibodeau (Linked In Profile). I'm a blogger at BP. Also, I was on BP podcast show 74.

I'm looking for multi family properties in the Sacramento Area. I closed my first transaction in 2013. Now I'm ready to close my second.

My Strategy: I buy and managed duplexes in the area surrounding UOP law school, UC Davis med area, and north east of the Sacramento airport. I like investing in middle income areas. I purchased properties that I can add value to via repairs and curb appeal enhancements.

Entry Criteria: 25% down. Must be able to add value through general repairs and curb appeal enhancements. 

Price: I'm not spending more than $250-$300k for a multi family property in Sacramento.

What I Promise You: If you send me a deal that fits my criteria, I will respond to your lead within the same day so long as your lead meets the aforementioned requirements.

If you bring me a deal, I promise I will complete the transaction with you and I will NOT pressure you to lower your commission or finders fee.

If the deal meets my criteria, I will close, and I WILL NOT ask for no money down financing. 

Help me find a property and I will be happy to refer you to the 900+ strong real estate investment group I founded. This group is comprised of full time tech employees that are interested in Real Estate investing.

How Can I Contact Jordan: Send me a BP message or text me 408 661 8741.

PS - I will be traveling to Sacramento this Sunday.