All Forum Posts by: Michael Faulk

Greetings everyone!

Our local RE360 group (un-official BP meetup) will be meeting this Thursday December 17, 2015 at 6pm. The location will be River Cities Grille located at 1903 Benton Rd. in Bossier City. We look forward to engaging with individuals from all different levels and strategies of investing. We have members ranging from the newbie who is contemplating getting into their first deal to the seasoned investor who has experience under their belt and everything in between. We are very passionate about our group and helping each other get to the next level in their business.

We look forward to seeing you this Thursday! 

Michael

@Justin Kilgore@Jeff M.@Josh Emory@Louis Fourquet@Jimmy Stewart@Isaiah Lee@Lee Nugent @Marian L Claville

@NA Nelson

@Melanie VanBuskirk@David Wodke @Joe Walters@Quincy J.@Orlando Kelly@Kendrick Hudson@Wesley Dean

@Andrew Banker

@Mary Lilley

@Anthony Dadlani.. Will do. 

@Anthony Dadlani... If you would like to get some first hand experience with lending in Louisiana... let's work together :) 

Michael

@Anthony Dadlani... I am not aware of any adverse laws that discourage private lending in the state of Louisiana. I have personally been in contact with quite a few people interested in private lending and have personally successfully completed transactions with three BP members for short term loans and have another who I will partner with when a deal arises. One of my previous transactions was an individual from out of state and two of the others were local. I haven't had any major issues regarding the agreed upon financing arrangements or any legal problems that arose...only minor problems that arise with on the rehab end of those projects.

But... this is defintely going to be a topic that I investigate further. I will bring this up to the CPA that I use when we meet next week at our planning meeting. He (CPA) has personally done private lending over his investing career and might be able to give further insight. 

Michael 

How about connecting to people in your REIA?

Have you checked with local portfolio or commercial lenders in your area? Depending on your investing strategy the commercial lender might be able to structure a loan to fit your needs. 

Also... educate yourself on Bigger Pockets. This community is FREAKING AWESOME!!!

Hi @Tony Higgins... Here are my two cents on your situation. I am not probing for responses from my bullet points... I just want you to start thinking differently. 

-You currently own your home--- Are you able to pull any equity out? In the form of a HELOC or something of that nature.

-Your profession as a realtor--- You come in contact day in and day out with individuals in the real estate profession. Which one of them does the investing strategy you are interested in? Invite that person for coffee and get their perspective on what you are trying to do. 

-Continue to network. Engulf yourself in the real estate investing community in Baton Rouge. Talk to investors who are doing what you want to do. Before you know it you are going to have many connections who want to work with you. Have you been to the RING in Baton Rouge. I don't know much about it but have heard individuals mention that networking group. Google it....

-Bank--start talking to lenders in your area. They will be able to guide you. 

-Be a walking billboard--- let everyone know that you are a aspiring real estate investor hungry for knowledge. People honestly want to help you achieve your goals. They won't give you handouts but if they know you are sincere will help guide you in the right direction. 

Have you talked to your broker about your interest in investing? 

These are just my two cents... Hopefully I can get your wheels turning.

Michael Faulk

Congratulations on the birth of your daughter! Yes sir we are planning on meeting in December. I'll keep everyone posted on the details. 

@Andrew Banker... if you need anything we are always a phone call away. 

@Mary Lilley... See you tonight