All Forum Posts by: Joe Villeneuve

 Setting a goal doesn’t merely guarantee the outcome by course. The only way to ensure a goal is commitment to the input. I can’t make someone sell their property, some people will not be reduced to a dollar amount. Are my sales skills top notch, no. Do I have the instincts to overcome every objects, no. Have I missed some deals during this process, of course. But if, by whatever course of action, I am not committed to taking the necessary action the goal will never nothing more than a goal. 

Just for numbers sake, there are some YouTubers doing 10,000 calls, 10s of thousands text messages and 10,000 mailers a month. I don’t have the budget to support but one lead source at a time. Networking at this time can only be done by phone. Fortunately, I have a few contacts to use. Of which I’ve done 1 deal with. I’m not looking to make a living making phone calls, but without a budget, you gotta start somewhere.

Hi Elliot,

So you want to work as a wholesaler --

And buy short term rental(s) using creative financing.

This looks to me like you are interested in the cash flow monthly as your main goal.

You also said that you have not been able to set aside enough money for down payment yet.

Creative financing might be something you could possibly do.

One of the roadblocks you might come across when looking for a creative financing purchase might be your lack of experience - in that the seller might balk at someone with no experience being relied upon to handle his end of the bargain.

Meaning getting a deal like that might be similar to finding a Needle in a haystack.

And making your money from wholesaling - why not just get a second job, maybe from a temporary service, until you get enough money saved up to buy what you want to buy.

And do not forget that you will need cash reserves for times when business is rough such as replacements like a water heater which can be expensive.

Just my 2 cents.

 I suspect that's exactly what I'll do with the Florida properties.  After the first year of renting them, and if their values have risen enough, I'll "trade up" for something else with a higher cashflow (assuming I go for a higher downpayment.)  We'll see in a year's time where they're at.

@Joe Villeneuve <-- his world...we're all just living in it! 

Joeeeeee issss baccckkkkkkkk :)

 Copy that.  In truth, my goal has always been to replace my W2 income, so the focus was on the $ coming in every month, and not so much the number of properties.  I equated it to a property per year simply because in the Denver area it's very difficult to find cash-flowing deals that make the investment worth it, so I figured I'd be looking at several properties to reach my financial goal.  I get your point though.  I should've started with a specific $/month in mind and worked backwards to figure out how many properties it would take to get to that number.  Instead, I just decided to head in "that direction" and figured I'd get to the destination eventually.  Like you said, not much of a plan.

If I could make the financial goal work with one or two properties I'd go that route, so it's not really about the number of properties. That kind of cashflow is just unrealistic in my neck of the woods. I've been watching Chad Carson's videos and his approach of accumulating more properties than you need, then start using that income to pay off mortgages and cull the lower performing properties makes sense to me.  With my two local properties bringing in about $1,200/month, I'm in the growing phase.  I don't want to just buy another house though if the cashflow isn't right.

Thanks for your feedback Joe.  It helps to have the reminder that I need to proceed with the goal in mind, and not just go through the motions.

Good to hear! I look forward to getting help before I screw up next time! Thanks.