All Forum Posts by: Paul Sorgi

@Adam Perry add networking to your tool belt.  Get out there and let people know you buy houses.  It is legal and most of the time free or cheap.  

Great enhancements!  

Keep your money in your pocket.  Apply it to your next deal.  I have laid out over 20k in "instruction" or "courses" or whatever you want to call it and would have been better off using the money to buy a house.

Derek talk to your some one in your local bank.  You do want to make sure that the bank will lend to you before tying up all your cash.  

I have used HD for my last 2 rehabs the off the shelf cabinets.  The look nice and are reasonable.  I myself just discovered the knock downs and will be trying them on my next rehab.  Real wood doors 1/2 plywood sides and 5/8 plywood shelves.  It is $4 extra for soft close drawers. 

1 Sell my completed rehab

2. Have the exterior work completed on my next project

3. Identify my next purchase

4. Acquire another 200k in private money

I love posts by people looking for seedy ways to look credible.

I have to agree it is no easy!

After reading your post I felt like things had gone right for you and you learned a thing or two.  You could have ended up in a crappy deal with that investor.  You could have ended up with an unscrupulous partner.  All pluses in my book!

Have you asked a potential "mentor" what they would like in a mentoree?  From those that have shared their experience of finding a mentor a common thread I have noticed is they bring good deals to the Mentor.  They get paid more of a bird dog fee than as a partner.

It is absolutely true that most people are consumed by their own priorities than yours therefore their deals will always take precedence over yours.  This maybe a sign that your deals are not meeting their criteria.  To wholesale or partner on a deal it has to be good. Everyone involved has to see the deal and like John said it all comes down to RE fundamentals.  

The last thing I would add is that it will happen for you when you are ready. I started when I was 19 reading about RE. In my 30's I attended an REIA meeting or two. During the recession in the early 1990's I read the auction pages (there were more properties being auctioned than retailed). IN the 2000's I tried to buy land and lost my deposit because I had know idea what I was doing. Finally in 2011 I bought my first property. I have since bought 7 more. I have don it by finding partners and never quitting. Each day brings new experiences which make us stronger. Stay focused on your goals and make sure you take steps everyday in towards them.

Some investors I know in my area have been able to obtain financing with the LLC holding Title. All got commercial loans from small banks and had to sign personally. They also had worked at building a relationship with the bank.

Welcome BP is a great place to grow your knowledge and your network.