All Forum Posts by: Roshan K.
Roshan K. has started 16 posts and replied 250 times.
Post: Offering AS IS on a house
- Oklahoma City, OK
- Posts 258
- Votes 214
Did you have any contingencies?
You can still back out if you had an inspection or financial contingency and the amount of days are not up
If not, you may be looking at losing your Earnest Money Deposit in best case scenario
Post: What would you do with 30K?
- Oklahoma City, OK
- Posts 258
- Votes 214
If you need to be hand held enough to pay 30k to a guru, I don't think you have the stomach for real estate. The successful investors are those that gain knowledge themselves (reading BP, listening to podcasts etc), through mentors, and through experience.
If you still need the secret and all the paperwork, I will do all that for you. And you're lucky, because right now it's only exactly 30K :)
Post: Dress for success, really matter??
- Oklahoma City, OK
- Posts 258
- Votes 214
Originally posted by @Joe Splitrock:
Originally posted by @Roshan K.:
Originally posted by @Joe Splitrock:
@Omar Khan you are right and here is Steve Jobs BEFORE he ran a billion dollar company...
uhhhhhhhh anyone else here recognize something? :D
or maybe I should say someone...
Not the best picture to explain your point Joe lol
I believe that is Ashton Kutcher, the actor who played Steve Jobs in a movie
Nope this is Steve Jobs, here is the source link:
https://ombrenelcielo.wordpress.com/tag/steve-jobs...
Here is a side by side to notice the differences. No doubt Ashton is a good double but not a twin:
oh wow! My apologies, I had no idea that they actually looked that similar in black and white haha
unreal
Post: 12 Mos Rent Up Front- Yes or No
- Oklahoma City, OK
- Posts 258
- Votes 214
Originally posted by @Blair Poelman:
I've done this 1 time. It works fine for some, but it was a horrible mistake for me and I won't be doing it again.
Tread cautiously.
why?
Post: Dress for success, really matter??
- Oklahoma City, OK
- Posts 258
- Votes 214
Originally posted by @Joe Splitrock:
@Jeremiah Dye how you dress absolutely matters. Even in your profession, you said it yourself, you wear a uniform. Why do you wear a uniform at work? It is because your customers think more highly of you because you wear a uniform. If you showed up in dirty sweat pants and a shirt with holes in it, your customers would draw the conclusion that you would do lower quality of work.
You even mentioned yourself that people would be surprised how much money you make. In other words, they are drawing conclusions about you because of how you look and what what job you have.
People are judged on appearance every day. I am not here to get into a debate about f it is morally right, but that is how it is. You can either accept it and dress for success or ignore it and take your chances.
There is another factor of dressing for success that people ignore. I used to have a job working phone sales and my employer required us to wear ties to work. We never met the customer face to face, so you may ask what is the purpose of wearing a tie? The reason is that when you dress better, you feel better and have more confidence. Studies show when people dress up, they sit up straighter and project more confidence. Why do you think an NFL football team shows up for the big game wearing their suit and tie? Wouldn't they be more comfortable in their warm up gear?
I agree with this completely.
You are much more likely to have improved confidence wearing nice clothes. There's two parts of first impressions generally, one is when someone immediately sees you and another is just after you have spoken.
I wear a shirt and tie and slacks to job every day, even though my partners do not. I can't control their attire, but I can control mine. Dress shirt, tie and slacks makes you look more like an authority... even if you are not.
Post: Dress for success, really matter??
- Oklahoma City, OK
- Posts 258
- Votes 214
Originally posted by @Joe Splitrock:
@Omar Khan you are right and here is Steve Jobs BEFORE he ran a billion dollar company...
I believe that is Ashton Kutcher, the actor who played Steve Jobs in a movie
Edit: NVM, that is Steve Jobs. My apologies Joe!
Post: May OKC Deal Maker Sessions
- Oklahoma City, OK
- Posts 258
- Votes 214
This is tonight correct?
Post: 21 Years Old- ON THE SEARCH FOR MY RICH DAD
- Oklahoma City, OK
- Posts 258
- Votes 214
Originally posted by @John Colin Rogers:
I really enjoy reading you guy’s feedback. I truly love it. I’m excited because I’m actually receiving real feedback other then from a book.
Can I give you guys a scenario and you tell me the best way you’d handle the situation?
Let’s say I did have a little cash 5,000-7000 dollars approx.
What would be the best way to invest into real estate ?
Should I use the money as earnest money and try to whole sale ?
Should I find a beat up home and use the money as a down payment and get the bank to lend me money ? But then again the bank probably won’t finance the home because of the condition.
Please tell me what you would do. NOT WHAT I SHOULD DO. BUT IF YOU HAD NO OTHER OPTION. ALL YOU HAD WAS 7000 and you knowledge of real estate how would you get yourself out of this situation ?
House hack into a 4 plex. 7000 probably isn't enough to do it so start working any and every job you can to make a bigger amount of money saved. Once you have a 4 plex (and you should be cash flow positive, at the very least neutral), start saving up to move in a year to another 4 plex. By the time you graduate college you could have 2 to 3 fourplexes which means 8 to 12 units. Every year, using the money from the 4 plexes, move into another 4 plex. It will get easier as you now have houses working for you instead of just yourself. In 5 years from your first 4 plex, you could have 20 units. Add that on top of your income as a contractor or whatever job you wish to pursue with your degree and you can be financially free in 5 to 7 years!
Post: What’s your second favorite investment after real estate?
- Oklahoma City, OK
- Posts 258
- Votes 214
index funds from vanguard, specifically VOO
Post: Rental Calculator too harsh?
- Oklahoma City, OK
- Posts 258
- Votes 214
Originally posted by @Adam Webb:
So I find that when I evaluate properties according to the BiggerPockets method, including CapEx monthly, including 5% of gross rents for repairs and maintanence, including 10% for property managers, etc, NO property passes any test. 1% rule, 50% rule, or even being positive cash flow. Should I be viewing this process of evaluation as worst case scenario and run a good, better, best analysis and move forward if it makes sense on the better?
You're not doing the right properties then. Plenty of properties in my market work great to create more than $200 a door cash flow and more than 12% cash on cash returns