All Forum Posts by: Patrick Ellis

Thank you very much for the advice.  I was thinking the same thing while I was talking to this guy and I did ask for a copy of his drivers' license.  Once he refused to send that I was not going to do business.  It seems so strange to me that people try to get away with taking advantage of other people and really have no remorse in doing so.  I do appreciate all the advice from everyone. Thank you, friends.

Hey Nick,

It is awesome that you at such a young age have made the decision to follow your dreams.  I applaud you for that and wish I would have done so myself.  This is just a simple suggestion but if you are anything like me, well I have always enjoyed working with wood and really on DIY projects.  Have you considered working in home rehab or construction?  Just a thought because if it were me I think that would be a great place to pick up large amounts of knowledge in real estate.  I really hope you find something that's a good fit for you and good luck. Most of you posting are missing the point, it's not about the money.  It's about being happy in life and doing something you enjoy.

Thanks for the reply Matt.  I do know enough not to do this without an attorney but I guess my question is how do I know the person talking to me is the individual that is really holding the properties and what I should do to secure my loan just in case he tries to bail on me?  Thank you very much for your response.

I answered an add to a party looking for a small loan saying they would pay back at 100% return on investment.  I told the person I would like to meet up with them because I was really looking to partner with someone in hopes that I could learn the business of real estate investing.  They went on to show me pictures of homes that they were working on and to me they looked real good.  After texting back and forth we are setting up a meeting for some time in the near future.  My concern is how can I tell if the person is legit? I started wondering why someone that has done around 4-5 flips would be needing a small loan to begin with.  Also if I do find that they are legit how do I go about making sure they would really pay me back?  Do I put a lien on the property and will I need to do this through an attorney?  If anyone has ever done this type of loan and has some good advice I would greatly appreciate your input.  Thank you very much.

Hello all,

My name is Patrick Ellis, I currently work in construction as a Safety Professional in Michigan. I am just getting into real estate investing in hopes to generate passive income for retirement. I've bought and sold 2 properties in my lifetime and I'm currently sitting on a nice amount of cash to invest. I'm looking to try my hand at multifamily, BRRRR, flips and foreclosures. I am ready to get started as soon as possible I'm just having trouble getting information on how to really find a great deal. Still learning but I'm a firm believer in learning by experience. I would really like to meet some local investors and friends to learn from and offer any help that I can.

If you have a family member or you yourself have ever worked for GM you may want to check out GM Right Notes. I believe that they are paying about 2.25% on $50,000 or more and it’s just like a checking account. Check out the website www.rightnotes.com