All Forum Posts by: Rich Solano

Hey all, I see so many posts, " I am researching, " I am doing my homework" , I am trying to build my team" "Deciding on which area"  So many are TRYING but never do anything, like a hamster on a wheel, A LOT of movement but staying in the same place. What is holding you back?  Who needs help, or just some advice. 

I started out not know a darn thing. Literally got into RE while at a family BBQ about 15 years ago. My Cuz pulled up in a new SL 500. I said, Joe, I thought you were an extra tech. Well, he was, but he took action and got into RE. So that was my ah ha moment. Within my 1st month I flipped a contract for 19k, yes 19k my 1st month. At that moment I realized there is money in this. All I did was look at a property, run the comps, and got a reno budget, So nothing to intense. My next deal while I was just about to sign the contract on a house in Glenn Cove LI. a truck pulls up. The realtor says, may I help you?  Nope says the driver with a lock and chain in is hand. I am here to lock it up, its going into foreclosure. I grabbed the contract and offered 100k less, and got it, Talk about timing. At that point I knew the universe was telling me, RE is my calling.  Well, 500 deals later, (about 15 in LI the rest in Cleveland ) there is nothing I have not done. Purchased various sheriff auctions, short sale, and just low balling. 

If you are stuck, not knowing where to turn, please feel free to reach out, happy to provide some advice.  

All the best 

@Al Boettger I am in southern NJ near Cherry Hill.  My team rehabs and builds new.  I am very much interested in getting involved in assisted living. I know you said you are focusing in TX, but would you be willing to connect regarding the NJ market?  Thanks 

Hey All,

We have owned properties in Trenton for the past 10 years - I also own and occupy an office building here.  For those looking at it from the outside, it doesn't look promising.  To investors that have their boots on the ground in the city, it has been a gold mine.  

Yes there is some section 8 housing (which we don't shy away from) but there are plenty of other tenants available that are perfectly capable to pay the rent on their own and have decent jobs.  

I remain bullish in the city - there is a newly elected mayor that is looking to make some radical changes (the last mayor ended up going to jail and ruined any momentum the city had before he was elected).  There are several multi million dollar redevelopment projects (not affordable housing ones either) in the pipline that will change the city for the better also.

at anyone on this thread, shoot me a message on BP if you want more info on what we have learned on investing here.

Matt Faircloth

There is a good opportunity to wholesale multi family properties in Ohio markets such as Cleveland and Columbus right now. There are way more buyers than sellers for deals currently. 

@Justin G. I quit my job to build a real estate investment company and our group has acquired more than $380,000,000 with over 950+ passive investors