All Forum Posts by: Richard S Myers

@David M. thank you for the reply! I appreciate it! I just want to find a way to use the business as a source for building equity, it may have to wait until I can invest later for future shops, because I’m currently in a lease for my current setup.

Wanted to know the best way to leverage my new pizzeria as a way to get into real estate, wanted to know if there was any advice or suggestions from this who have done it before?

Houses in my area are selling above asking price, and are generally out of my price range. There is a really nicely remodeled mobile home near by, and it’s conveniently placed where my wife(who can’t drive yet), could get to work easily. But my mom says that mobile homes are bad overall because a few decades ago my uncle and aunt had a horrible time and took a loss on their mobile home.

Any advice or concerns from those who are maybe a little more knowledgeable on the subject?

Hey guys! Reaching out to my fellow BP members to ask a potentially silly question.

As far as motivated sellers, a preforclosure trying to sell on the mls, can I realistically ask for a significant discount if I know I can flip the property quickly with profit(only if I can get them to agree to a relatively steep discount (20% ish)?

Thanks! I appreciate the feedback!

How is it that people generally finance a BRRRR deal? Hard money, transitioned to a conventional loan, right? Is there another, better way to do it? House hacking? I'm just wondering the best way to approach this correctly?

@Jonathan Hasan I have spent considerable time between books, podcasts, webinars, etc. And I’m really trying to not get stuck in analysis paralysis.

I’ve had a little bit of success with cold calling (currently working on a deal with a local investor), but my job can be very demanding. Just looking for advice other people have used to balance the two activities, if that makes any sense.

I don’t want to stop one to pursue the other, because I have big goals in both, (goal of financial independence, and the goal to be a successful franchisee).

Hopefully that clarifies a little. Also, I’m working to be a successful wholesale investor so I can build capital and experience, and then generate passive income through rentals, and eventually (10+ years, likely) through my franchise.

@Mikael Winkler thank you for the input! Right now, it seems I can only mentally handle about 20-30 calls before I’m burnt out. But I’ve had a tiny bit of success, so I want to keep pursuing it.

Is there a best practice to cold calling? He’s times of day, days that should be simply left alone, etc?

@Mark Fries with the help of another local investor, that’s exactly what we did. Waiting on more information once the weekend is over.