All Forum Posts by: Jay Williams

Hello all,

Please learn from my mistakes. I have wasted a lot of time due to my lack of focus and discipline, analysis paralysis, listening to a bunch of podcast and reading a lot of books. None of the knowledge I have gained is useful if I do not take CONSISTENT ACTION! 

I know 2 investors. 1 has purchased many courses, 1 of which was an airbnb course. This same friend is an avid reader and listens to podcast as well. The 2nd friend can be a bit impulsive at times, but they always do the research. Friend 1 shared the info they learned in the airbnb course with friend 2. About 10 months later, friend 2 has three, yes 3 airbnb properties! Friend 2 have never read a single real estate investing book nor listened to a podcast. 

My goal is to be the perfect combinations of these 2 investors. No matter how many books you read, or conferences you attend or how many contacts your make, you will still make some mistakes as no one is perfect. The best thing you can do is educate yourself and then apply what you have learned. Then learn from your mistakes, but KEEP GOING!

I remember hearing the story about the young investor from Bmore. May God rest his soul.

These stories are sad but reality. We as investors must make safety a high priority on our checklist. 

I recently had an early jump on a few vacant multi-family homes before they hit the market. I know there was contaminated land right next to it. I was concerned with my health, the crews that would work on the property as well as the tenants. I quickly decided to move on as I could not bare the thought of 1 person getting some type of illness from those properties when I KNEW the risk. 

Does anyone know of a way to get quick home inscurance quotes? I tried the hippo site that promised to give a quote in 60 seconds. Wellllll, 15 mins and 1 phone call later, they told me they don't cover that area. I wish the site would have told me that when I plugged in the address w/n the 1st 60 seconds lol

@Sheri Dell Althought I do plan to "leave it to the pros" I still want an understanding of the numbers. It is too easy to be taken advantage of when they know that you don't know. Sadly there are some dishonest folks out there and the best way to snuff them out is to have some type of knowledge base to know when you are being taken advantage of.

This is all great content as I am in the same boat. 

@Rick Albert I love that point about getting realtors to send me off market deals and getting them the listing on the back end! I will be reaching out to a few realtors today! Thanks!

@Noah Bacon Thanks for sharing. I will be watching this video ASAP! 

@MIKE 

@Mike Reynolds w/ years in the game, is there an ideal way or rule of thumb you use to help offset the mystery behind the walls? I would imagine something like adding 20% to your budget to or when inspecting the house look for/at  _________ .

@Konstantin Ginzburg Thank you so much for taking the time to share with me. Your reply was greatly helpful! 

Wishing you the absolute best in your investing career moving forward!

@Basit Siddiqi That's a great point! I'll be sure to keep that in mind when I come to this crossroad 1 day.

@Dave Foster you have laid out great points as well. 2 of the main things remember from B school at FSU is:

1: never blow into a breathlayzer! Never give them evidence to use against you. lolol

2. A lot of great businesses fail b/c they attempt to grow too fast.

I like the term, slower growth, at the end of the day, it is still growth!

Hello Eli,

I am in the same boat. Looking to scale my portfolio ASAP. I am planning to use a mix of BRRRR, Sec 8, AirBnB and flipping to accomplish my goal.

Here are 2 of my favorite BP YT vidoes that keep my motivated in knowing that I can change my life in just 2 year.

Good luck Eli! 

Hello Candace,

If you decide to sell the property, be sure to look into doing a 1031 exchange as a tax benefit. Be sure to have at least 2-3 properties in mind before starting the 1031 process as time is of the essence.

Best of luck to you hun!