All Forum Posts by: Account Closed

@Effram Barrett Lease Options don't work in Texas. At least not without a LOT of undo scrutiny and unwanted pressure. A Wrap is a better solution. Contact a real estate attorney for details.

@Paul Tibok If they won't let you see the other side, RUN - It's a hoarder house! Or, a cranky old guy lives there that you don't want to hassle with. ;-) They are not a serious seller. No one in their right mind would make an offer unless they could see what they are buying as an investment.

@Kat W. Hover over "Connect" and two options appear, then come "Follow" me ;-)

@Dovid Staples Congrats on taking the step. Next, I suppose I would work up the numbers and meet with a couple of people who might be interested. I wouldn't include the address, that is for later. But the fundamentals help sell the concept. The JV partners are looking for returns. They want to know what is in it for them. In fact, Normally I'd take it to the AZREIA meetings and see if anyone there has a taste for the project. However, AZREIA has a webinar meeting for July so that won't work this month. BP has a MarketPlace where you can list the project. A project that is up to $10MM takes real interest. If they are interested, make sure they can close on the transaction.

@Jonathan Jaime Velarde Looks like you've spent some time in boot camp. Did they train you to "try to get as far as you can, kinda" or did they train you to "take the hill!". Any time you waste is ground lost. 

Sell your truck on your own, don't trade it in. You will get the most for it that way. Don't sell at "fire sale" pricing but in a reasonable amount of time like 2 - 3 weeks to see what the market will offer. Meanwhile, meet with friends, family other people to see if they are interested in joining you in your new adventure.

@Jonathan Jaime Velarde The truck isn't making you any money unless you are a delivery man. First make your millions, then buy the truck of your dreams. Sell the truck pronto! The market is soon to be flooded with cars and trucks coming off leases because of the changes in the auto industry. That will drive down prices.

 I agree, your dad is irrelevant to the discussion so don't use that as a crutch. And, as I said answering your question, Credit doesn't matter if you learn the tools I've presented. To each his own path. ;-) 

@Brandi R. I use a paper napkin at lunch. Well, actually sometimes I bring along a yellow tablet. But, the point is, they want just a few things in a half hour discussion, 1) Can they trust you, 2) What is the project, 3) How much do you need, 4) When do you need it, 5) Do you both like the terms, 6) When do they get their money back, 7) Is their money safe, secure and does it cash flow or is it equity payoff. Practice on a friend until you can answer those questions and your friend will likely sign up with you too.

@David White I looked at your profile and you are 26. Quit whining. Your dad screwed up. Big deal. As General Patton used to say "suck up your gut and keep moving". That is how we won WWII. Real Estate is for people who STICK TO IT! It is HARD! It is WORK! But boy o' boy, once you get it down it PAYS!!! Enough of the Good Cheer. I haven't used a bank in 25 years. I haven't used a real estate agent in 25 years either. Use OPM. (Other People's Money) Joint Venture, use Private Money, use Subject To, use Owner Financing, use Hard Money. Adversity is the mother of invention, or something like that.  This guy "No Arms, No Legs, No Worries' Nick Vujicic made MILLIONS in REAL ESTATE https://www.youtube.com/watch?v=8jhcxOhIMAQ and I will guarantee you, no day you've every had is as bad as his has been

@Gail Roberts I think the Oregon market is overheated right now. That being said, if you plan your real estate investments so that you are getting income regardless if the market is going up or down, you can relax a bit when things turn course again. There is more to things than just how much you have to invest.

Decide which kind of investor you want to be (SFR, Commercial, Land, Tax Liens, HML, Multi-Family, Notes, Fix & Flip, Buy & Hold, "Subject To", apartments, duplexes, assisted living, REOs, Foreclosures, Short Sales), etc.. Decide how much money you have access to, & the zip codes, city or state you want to focus on. That will determine the next step. Outline where you want to be in five years. Put it all in writing. Start working your plan. There are plenty of people around to help you each step of the way.