All Forum Posts by: Jay O.

Hi Bill.

I gotta tell ya. Once I clicked on the link, I was in tears. I needed that today.

How many of us have been to those already, to no avail. That's why we all came to BiggerPockets. For the truth. The only way to do it. Real people. Real Networking. Real Advice. Whether we like it or not. Truth is truth. Real Founders.

Integrity can not be measured in degrees. It is 100% or nothing. Bill..........I'm still in tears and now my stomach hurts. Family thinks I'm watching a funny movie. Have an Awesome day Bill.

Thanks for the X Ray glasses in seeing what I saw.

HI Greg.

Thanks a million for taking out the time to provide some really important info I needed. Incredibly grateful for it. Definitely going to get the book too. Is it the one by Gary Keller? I believe he also founded Keller Williams Realty. They have done well so far too. Ive gone and am still going through quite a few books. I know this one should be a Jewel.

I like the idea of just a few properties at a time. Was going to be one of my first steps. Maybe buy one cash, then use the asset to possibly obtain another investment loan to build some leverage. My credit is in the process of being rebuilt so conventional or traditional lending wont work for me right now. It will probably take about a year or so to recover. I know for sure. I have the capital though to work with and get started. Especially rehabbing and flipping. I also was a Painting and Design contractor so I'm pretty handy and have time and lots of elbow grease to work with.

I'm kinda weary of partners cause who do you trust nowadays. I'm willing to work with someone, but I have already owned two businesses and had to shut down two of them because of partners. One actually moved away to San Francisco for personal reasons, which I can understand. The other decided Contracting and Construction was not for them after all they saw was required and the amount of work it took to build and compete in the Construction Industry. Especially with all the underbidding on projects taking place. It takes more than one person to run a business. It takes a team. Looking forward to building one slowly in the very near future. A trustworthy one. Where all of us can make an awesome living from and a good friendship, or too, as well as help others in the process that we can help.

Haven't been fortunate enough to find investors in my area that are looking for someone to partner with. Kinda weird down here. Everyone seems like their on a solo trip. Flying solo. Its been a little like pulling teeth to get a foot in the door or work with anyone. Everyone is just snatching everything they can get their hands on, leaving the absolute worst for the newbie start up guy. Its not like I won the Lotto, but I have done enough research to know realistically how much i would definitely need to at least get started in the REI Arena.

Finally, incredible thanks for bringing up the hard numbers. Your absolutley right. Especially the Red ones. Excellent point. The numbers that matter after all is said and done. That what I'm all about. What exactly has been made after the deal has been done and what is being produced in the long run.

Thanks again Greg.

Great meeting you too.

Gratefully,

Ozzy

Good morning.Wishing you all a great day and an awesome weekend. Looking forward to working with Biggerpockets and building a great relationship with others in the BP community. Just wanted to know a little more about some financing options.

What I would like to do is work on leveraging some capital I already have, in order to purchase a certain amount of investment properties and continue to build a better cash flow and stronger portfolio. I'm sure you are familiar with what I am trying to accomplish here.

The terms of conventional financing would work great for me, such as 30 year terms on a specific loan amount. Under the present circumstances, while I continue to rebuild my credit seems like the HML's terms are kinda of short. I understand a Lil about risks and quick turn around on making your interest in a short period of time.

Let me give you a Lil example and what I am trying to work on.

I know a 30 year loan at a fixed rate for $1MIL would be around $5600-5900 a month. A loan with the same terms at half the amount of $500k would run about $3000-3500 a month. Those terms would work incredibly well, especially with a great credit score, which I'm currently working on.

I'm looking to purchase about 10 properties or less in areas with an excellent market for high rents. Those properties tend to cost much more to purchase. Ive seen one multifamily unit and even just a single family property in an excellent market area bring in as much as $3500-5000K a month. Times that by so many properties and I know you get the bigger picture.

I know all in time with patience, it can be done and I'm determined incredibly to execute this goal. Any ideas or options anyone can offer or probably create to make such a plan come to pass? Possibly someone else who can make it happen you highly recommend that maybe you guys/gals work with also?Thanks. I appreciate your time.

Gratefully,

Ozzy