All Forum Posts by: Justin B.

Message me you're e-mails if you haven't already.

So I get a call today from 415-506-2407 saying that I needed to call a Brian King from the Dept. of the US Treasury - Legal Affairs office back at ironically the same number to discuss a legal matter I was involved in.  I picked up right away that this was the IRS scam I'd heard so much about.  So I decided to have some fun.  I read online of some of the things they say to people so I called him up.

I told him that I had some bad news for him.  He was the target of a legal action and a warrant had been issued for his arrest.  I told him he needed to get to the nearest Western Union and purchase $2,000 worth of reloadable debit cards (10 in the amount of $200).  I said the authorities were going to show up tomorrow to arrest him and throw him in Jail for up to 6 months if he didn't comply immediately.

Of course he knew exactly what he was doing and called me a bastard.  His accent also got much thicker (Indian) as he stopped trying to sound American.  So I asked them how much money they made taking advantage of people like this.  He said millions.  It almost made me sick.  So I started berating him a little more and told him how I've reported the number.  Maybe you guys should call him and berate him as well.  I figured the least I can do is give them a hard time about it.

I'm curious if anyone else has gotten these calls.

Say what now? :)

$0 technically, but you can't put a price on the experience, knowledge, and interactions that BP provides.

Getting out means different things to different people I guess.  Getting out for me would be to stop pursuing new real estate and just sitting on a beach drinking my Mai Tai and letting the cash flow from the real estate I already have fund it.  My team can handle the day to day.  And who knows, if the right buyer comes along, we'll see :)  I imagine if I got out completely (no real estate owned anymore) it would probably be someone buying my entire operation.

In the area I'm in, MRF's seem to be scarce. Of course, I'm not cold calling or doing too much driving around, just looking at what's listed. I don't have the time to do much more right now. On the other hand, SFR's are pretty much falling into my lap without me having to do anything. I really like that :) I've bought 4 SFR's in the last 2 months.

So Joe is right on.  It's the market you're in and what you're looking for.

It varies but it's very easy in MS and TN to buy under $100k.  Some examples I have bought are.  None have required any rehab:
$74k - $895/month
$20k - $600/month (foreclosure)
$95k - $1,100/month
$70k - $950/month

If you are looking to rehab, you can buy properties as low as $10k, put $20k-$30k into them and rent them out for $800-$1000/month.  I have no interest in rehabbing so I'm just throwing out what I've heard of, not personally experienced in that respect.

I'd love to come to this group meeting as I've heard great things about it, but alas my schedule doesn't allow me to get to Baltimore on weekday evenings.  I'm in the Gaithersburg area and looking to put together a meeting for Gaithersburg, Germantown, Rockville folks once a month starting in January.  I've got 5 names so far but looking for more.

This is not meant to hijack the thread so please don't reply here, just message me with your e-mail if you are interested and I'll keep you in the loop.  My e-mail is also in my profile.

Congrats.  I remember when I closed on my first property.  It wasn't too long ago.  it's a good feeling.  Now we're searching for our 10th property.  Every single purchase has felt as good as the first.  Keep it up!

I started with Rich Dad, Poor Dad.  And before people ream RDPD, there are lots of discussion around there about whether there actually was a poor dad or not and I'm not trying to start that discussion.  Either way, the message and foundation is valuable in my opinion.  After that I literally have read of ton of books on real estate, business, self-help, taxes, mortgages, etc.  Just the whole gamut.  The list of what I've read is on my blog in the signature.