All Forum Posts by: Kenneth Smith

This a great testament to this site. The fact that people will jump in and offer to help guide one's path is something you don't find everyday in this world.

Remy,

I have seen your last few posts and although I am new to this game, your thought process concerns me.

It seems as though you are sifting through all the "guru" programs and are trying to come up with the right one for you. When I started researching the business, I started getting all kinds of e-mails from all kinds of "guru's". But I didn't and won't buy into their stuff.

I think that knowledge of the business is imperative. But acquire the knowledge from sources that are reliable. BP is the ONLY source (besides my own networking and relationship building) where you will find "real" knowledge from people who have been in this business for a long time and are willing to share that experience.

Don't fall for the "get rich quick" scams. All the information you need is here. If it isn't, ask. That simple. Also, go out and get your feet wet. Nothing beats actual experience. Mistakes will be made. That's life. But you learn from them and move on. Just my .02. Best of luck!

Being that I am just starting out in RE investing, and having read many, many posts here, I thought I would give my .02.

J Scott - I think you made an excellent reference to Microsoft. If I can add, Microsoft started with one product, perfected it and then branched out, very successfully.

My own experience previously, deals with futures trading. I started out concentrating in one area of trading. When I became successful in that area, I moved on to other areas. And I stayed in the game for many years.

With RE, I am starting out concentrating on one aspect. I will give it everything I can, and then will branch out to other areas. I think diversification is necessary to fully achieve success in any endeavor.

I don't believe that you should put your resources into many different objectives when starting out. Start with one objective, perfect it, then diversify.

Just my thoughts.

Stefan,

Great point about the emotional attachment! I traded commodity futures for many years in Chicago. There you learn about emotions. I learned from that. Hopefully others will look at this post and take heed also.

Will,

I am one of those new members here at BP, and had that initial fear of posting here. Being this is a whole new ballgame for me, and others as well, lends to an initial fear of taking on something new. I think it's human nature to have some fear in a new adventure, as well as a great deal of excitement.

Being a relatively shy person until I feel comfortable in any particular environment only feeds on that fear. I do know that I am good at building relationships, and can network very well, but it takes the confidence to make that step.

By writing this post, I feel like you and other long term members here will make that effort to make us newbies feel more welcome and will encourage greater participation in these forums. I believe that you never stop learning, regardless of who is involved. Thanks.

Thanks for the reply Stefan,

The property is one of the nicest looking ones in the neighborhood. I have talked with a realtor/friend today and he is pulling comps for me. I do believe that the PR is willing to be flexible in the price. I am going to call him tomorrow and get a feel for what the other investors had to offer.

Even if this deal doesn't happen, after talking yesterday, we will keep in touch regarding other possible opportunities. If all else, it was a good networking session!

I firmly believe that one's success is heavily reliant on the relationships that you develop and keep. best of luck to you in your investing as well!

Hello BP members,

This is my first real post here, and am looking for some thoughts/advice on a potential first deal.

I am new to the investing arena, and have been focusing on probates. I started sending out letters in Sept. 2010 and have had my share of calls but have not really had much luck. Most of it has to do with my "fear" of just getting out and making things happen. Anyways, I am confident that I can make this work, so here goes.

I went and saw a property yesterday. It is a 3/2 SFR in a resurging neighborhood here in Ft. Lauderdale. The neighborhood was built in the mid to late 70's, and now is seeing a lot of activity with rehabbers playing a big part in the resurgence. Comps in the area run anywhere from the 40's to the 80's generally. This particular property has been 95% rehabbed by the inheritor. Only minor cosmetic work on the landscaping needs to be done. I should also mention that the lot is one of the larger ones in the neighborhood. There is no debt on the property and the person is looking for approximately 68K. He owns other investment property in Ft. Lauderdale, but doesn't want to keep this. He's retired and has enough to keep busy.

I spent about an hour with him and felt very comfortable talking with him. He has two other "investors" looking at the property today and tomorrow. He said that if nothing happened, he would list it next week.

Knowing the neighborhood, I think the property could move fairly quickly. With lending standards tighter, conventional financing might take some time. I thought about the possibility of a lease option.

I would like to get some thoughts on this scenario as a starting point and then get into some specifics. Anything would be much appreciated. I'm here for the long haul and want to absorb as much as I can.

Thanks for your time!

Hi Brad,

I live in Broward County and am new to investing. I have been concentrating on Probates since the beginning of October 2010. Would love to network with you.

Hello to all,

I live in Broward County, Florida and am new to real estate investing. I have been studying the market here for quite some time, and have noticed that there are some pretty decent deals here.
I have a partner who has been successful in other business ventures and is going to help in the negotiating process while I concentrate on the research and network functions.
We are looking at the Probate side of the business due to the high volume of available properties in the area. We will also concentrate on REO's as well.
I have a lot to learn, but am going to give it my all, and will also be an active participant on this site.
I look forward to communicating with many of you and wish you all the best in your investing endeavors.