All Forum Posts by: Michael Bachman

@Ryan Billingsley 

Hi Ryan,

Congrats on your success.   I've really enjoyed reading this thread and everyone's input & especially following your stories.  A quick few questions:

Do you offer earnest money & how did you come up with your contract that you use to give to the seller? 

What did you do to get comfortable estimating renovation costs and ARV?

Do you have other outside team members such as a RE attorney, RE agent, title company, lenders, etc.  

How are things going now that you're working full time? What's currently in the pipeline & any other tips off the top of your head that's come up between now & April.

Look forward to hearing about your continued successes!

Hi Darrell,

Just wondering how things are shaping up. Seems like @John Shultis gave you some good advice and some really creative options.  Did you figure out the needs of the seller, come up with another plan or more options, etc.

I'm wondering about the numbers...do you have a thread on the deal analysis?  Maybe we can break down this deal in this post with an analysis if not.  This could help investors learn how to look at the numbers of the deal, what step were or weren't taken that could have made things go smoother, etc. 

Cheers,

  Michael

Ten Habits of Highly Successful Real Estate Investors

Enjoyed reading this (as a new investor)...thought you might too.

Seems my @ mention tool isn't working.  Any tips? I looked below but doesn't work in the forum post. Thanks!

BP Tutorial

Hi! 

@Tekesha Jackson Thanks for the warm welcome! 

@Jamal White Thanks for the tip.  Sounds like I need to see the forest through the trees so to speak, huh.  Having a niche sounds like a good idea.  How did you end up doing your first deal?

@Jesse Waters Thanks for the warm welcome. They say the harder (& smarter) you work the luckier you get!) How did you end up in REI?

@Brandon Turner How do we listen to podcasts and speed them up a little bit? Itunes? Thanks for doing the webinars and podcasts! Also...

How was your big 30?! I noticed you have quite the lumbersexual look going, ha! I'm about to trim up my beard due to the heat so I guess I'll drop the look of an ascetic(yet jovial) hermit lumberjack. ^__^

@Dimitriy Fomichenko Thanks for the warm welcome! How did you get into real estate investing?  What is your bread and butter so to speak? I noticed your website but just got home from working so I haven't had a chance to check it out. 

@Marlon Wilson Thanks for the warm welcome from Houston, Texas.  Rescued my aussie border collie from a small town outside of Dallas. How did you get into wholesaling?

@Mark Nolan Thank you for the warm welcome. I should add that I found BP.com back in the mid 2000's but never got the real estate bug til the last year or two ago. Am finally getting serious about investing in my future and am really excited. How did you get your start in REI?

Thanks everyone for stopping in to say hi.  I listened to podcast 34 today and again am inspired to take action via planning and due diligence so I can hit the ground running.  

I'm currently working in Westport, CT at the moment and will be driving back to Oregon by the end of July.  Thanks for reaching out and connecting everyone. 

Cheers!

  Michael

Hello, 

I've been a long-time on & off reader and now excited to be a part of BP Nation here.  I love the camaraderie, the networking and general goodwill that people show here on the forums.

Thank you for taking the time to read my introduction here.  I just moved to Lane County and live on the border of Eugene, Oregon.  

I am a new investor and am currently working on meeting more seasoned investors to see what type of value I can help provide them while learning the ropes.  

My goal is to find good deals in and around Lane County to either birddog, wholesale, or purchase & flip. I've got some interesting ideas on a couple properties that I will post in the appropriate forums.  

I know some private lendors in the area and have time to work with boots on the ground so to speak.  I've been putting together my future team recently too! 

I have been talking to two lenders, have recommendations for a HML, a real estate ageant who has a program that lets me search the MLS legally. I listened to the last two webinars and listened to podcasts 1, 32 and 130 while painting a house today. I love the podcasts and am reading Brandon's book low and no money down ;0) and just purchased J. Scott's book on flipping tonight!

I definitely have a LOT to learn...so thank you in advance!

I am very excited to be a part of the community here and look forward to meeting you all either via the forums, via  business transactions or in person.  I am also looking to start attending local REIa's in Eugene or Portland. I will be back from work on the East Coast by the end of July.

Kind regards,

  Michael Bachman

Great story! Love the photo too..

Hi Erik, 

I was thinking of what you wrote earlier and if you have a contractor you can trust and find a killer deal or fixer it would probably help to you have him walk through the house with you help you estimate rehab if s/he's available. Maybe you can find one who wants to do a joint venture with you. Best of luck at your REI meeting. Keep us posted with your progress!

ps I also found the sticky threads at the top of this forum a big help.  Cheers!

Hi Eric, 

Welcome to BP, I'm new here too...yet still green behind the ears. 

It sounds like you need to do some more homework my friend. Some of the information posted above is great advice.  Read through it again maybe..this link below recommends some good books! Imho, you need to first realize if you want a fixer to flip, live-in then flip, fix and rent, etc. Take some time and write out what your current situation is, what your goals are and then actionable step listed in importance to achieve said goals.  Work down the list, rearrange if needed. Achieve your goals, hopefully. :)

Real Estate Book Recommendations

There is also podcasts, articles, blog posts, books and friendly people here will be able to help you more once you have a little more information on your goals, finances, and creative real estate ventures. I've also gotten a couple great emails from bp.com giving me information on how utilize this site and some great articles for aspiring investors.  Maybe you got these same emails too!

Brandon had a free webinar last night that provided good information for new investors.  I would recommend utilizing these valuable (inexpensive) resources as well as joining a local real estate investing group (perhaps check meetup.com) & looking for other local investors from this website. Watch what they do.  Ask the right questions, etc.

You can also create key word searches on here to include your area, etc. This will help you keep up to date and current to what's happening where you live. 

One other thing I recommend is the podcast on maximizing productivity with David Allen: #117. Link for podcast.

Remember...the harder you work the luckier you get as they say.

Kind regards,

  Michael