All Forum Posts by: Luke Davis

I was wondering what exactly is the difference between ROI and Cap Rate. From my understanding ROI is initial investment/net income x 100.

Is this the same for the cap rate, or is it calculated differently?

Hello BP, 

I was wondering if anyone had programs that they used to open up a phone number for your business. I've been doing some research online, but I wanted to know what y'all thought about the best service. 

For my use, I would like to have a phone number that could make/receive calls, send/receive text messages, and have a voicemail.

Any suggestions would help!

Look at Tellico Plains, Tennessee. Not as developed, but still a lot of opportunity for growth with vacation rentals. 

They have cheap land, and there are already some cabins there. 

Does anyone know where I can find examples of a Purchase and Sale Contract and Assignment Contract? I'd like to see how they are written, what they include, and why..

Thanks!

@Greg Scott I really appreciate your advice sir!

Hello all, I'm looking for a real estate meet up with regular real estate investor. Not looking for someone to sell me anything, just looking for networking opportunities with like-minded people. If you have anything let me know!

In my experience, anyone who has had some success in REI seems to have some course or form of education that they begin to market to beginners who would like to make their first deal. I am the latter; trying to figure out how I can get my foot in the door of this behemoth of a market in Phoenix. I have one problem: I am super stingy when it comes to courses. Mostly because I rarely trust what people are marketing, and I'm on a tight budget as it is.

 I don't want to spend my hard earned money on something I can learn listening to the BP Podcast, I would much rather invest in education that is going to give me the tools I need to succeed. 

With that being said, is there any courses or education materials out there that I should look into that will be the best bang for my buck? Any suggestions would be highly appreciated! 

@Mindy Jensen I like to play basketball, hike, ski, and fish!

It's interesting to see all of the opposing viewpoints on this subject. I think there's a lot to be learned from both sides. From all of the things I have learned over the podcasts, and others' experiences the takeaway is this: preparing for the worst and hoping for the best won't really get you anywhere. Any investor who can make good out of a bad situation will be able to stand the test of time. Markets rise and fall, but the smart investors are steady and consistent. 

Let's not be so fearful of market corrections, but rather take it as an opportunity to solve new problems and learn! This is why I love Bigger Pockets so much; we can all come together as a community and fix the issues and offer help as they arise. 

@Elise Marquette Thank you for your professional insight! As a new investor, I get nervous when I look at my credit score and it says that I have 6 hard inquiries on my credit report. I guess my question boils down to if there was anyway I could get an estimate on the terms of the loan, and what the amount I would be approved for without being punished for it.

Kind of like how contractors give free estimates for their services.