All Forum Posts by: Jordan Thibodeau

HI @Tim Cooper 

What are the rental numbers based on? If the realtor or the landlord gave them to you, I would run your own comps so you don't over estimate the expected rents.

Hi @Lorenzo Harkins !

I haven't used the services, but I wan't to comment on the general philosophy of paying for investment coaching.

At an early age we are taught that by paying for something we will receive value, with investment coaching: 

1. You can pick this information up free via BP forums and podcasts. 

2. The money you're paying for investment coaching could be used towards your investments. 

3. By having someone consult you this does not guarantee any of the advice provided will lead to profit, I'm sure you have to sign a hefty liability waiver before engaging in such service.

I recommend you stay on the forums, network, and learn.

Happy Hunting!

HI @Mark Cruse !

Are you receiving any advice on tax strategies from your accountant? The last accountant I had wasn't a good fit, the new one I'm working with offers me plenty of advice on tax strategy. I recommend finding an accountant who's experienced with RE tax strategies. 

Best of luck! 

HI @Chris Duzan It's more of a science than an art. I would think of what you consider a good area where you live, then try to deconstruct why you consider that area a good area. See if you can find those indicators in other areas, and speak with people in the neighborhood you're looking at to get a feel for the area.

HI @Rhonda Moore In relation to a balance investment portfolio? I don't see any problems with them, so long as the expense ratio is low. If you're looking to invest in RE but you wish to be hands off, not deal with the liability of directly owning a property, and you don't want to analyze deals. REITs would be the way to go.

HI @Dean Letfus who know's the future? It's like the people who claim to predict the stock market. If you get enough monkeys to make predictions, eventually one monkey will get it right.

Focus more on your specific deals and margin of safety in rents. That should help product you from whatever happens in the future.

Happy Hunting.

HI @BJ 

@BJ Farish undefined

1. Don't fall in love with your first deal.

2. If you're finding deals everywhere, your criteria needs to be improved.

3. Consistent growth is better than inconsistent rapid growth. 

Blarg, I've been fighting a fever during this entire week, so I don't want to get anyone sick. I hope you all have a great time!

Hi @Montrell Hamilton Welcome to the forums. I would start listening to the podcasts that focus on land lording for large complexes (Ken mcelroy). Read the blog posts about land lording.

@Nana K. 

Why do you need to get started now? What's the rush? Are you willing to risk your financial stability by rushing into a real estate investment? What if you over extend yourself and your plans don't work out? You have a solid job and you're in the drivers seat, why bet the house?

I say, save your money, and then experiment with your own cash. Don't take a risk that you can't recover from. If you had 100 deals under your belt and you knew your market like the back of your hand, so be it, but even then I wouldn't suggest using your credit card.

Fear and Greed drive markets. Deals will always be available, the question is will you be driven by your emotions or will you be driven by sound business reasoning?