All Forum Posts by: Robert Ashton

Thank you for the response Shiela! Seeing my grandma in a few weeks and I think this is the strategy we'll discuss! Appreciate your time and help

Thank you! You will be getting your Yucca Plant

Curious as to what the brilliant minds on here can come up with in this investing scenario!

My wife and I are real estate agents, currently with no capital to invest in a property or finance a renovation. 

My grandmother owns a studio in Yucca Valley that is a head ache to her and she only visits to check in 2 days out of the year. The property is a studio and definitely needs some work but once fixed up could STR for $130/ night. She's not willing to fund any of the renovations that would be needed to get up to rental condition.

What would you do in this situation? Bring in a 3rd party to fund the deal, pay them back (say 20% more than they funded) of all initial proceeds then continue to pay Grandma a percentage of the remaining cash flow?

Looking to get our feet wet so to speak in the space, not necessarily hit a home run, and this seems like an opportunity waiting to happen.

Curious to what you all can come up with and appreciate the tips in advance!

Quote from @Ronald Rohde:

catching a falling knife is very dangerous. Do you own office now?

I don’t personally. Just wanted to see if anyone had any plans to convert office space into something more lucrative!

Quote from @Brandi Jo Newman:

We have upstairs "office" suites in one of our downtown retail buildings. We are  working to convert these suites to apartments/condos.

Wow love that. You’re already well prepared!

Bigger Pockets Blog - Office buildings

Read this attached article from BP last week.

I’m curious if/ how anyone is planning to turn their portfolio of office buildings into an opportunity?

or better yet, who’s planning on jumping in and doing something creative if/when they do fall?

excited for your ideas!

Quote from @Alicia Marks:

I am reading a book right now called "Building a Second Brain" that teaches you how to effectively sort and store all of the information you come across in your day to be searchable and actually useful much later down the road. I think we are inundated with so much technology that it can be overwhelming. When the information is swimming around in your head it is so much easier to panic. 

Love the book recommendation! Definitely going to check it out.

Thank you Alicia!

Quote from @Bob S.:

Quote from @Mike Dymski:

No book or podcast can compare to analyzing real opportunities for learning the market, establishing criteria, and preparing to make offers.  There is nothing like having a real deal on the line to accelerate the learning curve.

 I never read a RE book or went to a guru seminar. I was told I can buy properties for all in 25k (this was 10 years ago ) and rent will be 1600 a month. I said ok, get me two. I flew in, drove around for 20 min, used zillow, YES ZILLOW, and said this place has huge potential. Well over the last 10 years I flipped (and kept some should have kept many more) about 500, learned as I went, it's not rocket science,

All the best to everyone 

 500 properties. "It's not rocket science" but the man went to the moon! 

Great advice Bob! 

Quote from @Bruce Woodruff:

It wasn't too long ago that we had none of this stuff. It was harder to do RE for sure, but it still got done. 

I wonder - if you took 2 people and gave one the internet/social media/etc and the other one had to do it 'the old way', who would do better?

I think the internet and all the access to information just lowers the barrier to entry.

Nobodies getting in without diving into the unknown. But the ease of access to knowledge allows those who wouldn't jump without seeing below the surface the ability to see 1/10th the way down

Quote from @Hector Daza:

Hello, 

I am a Mortgage Broker now sharing my journey on Instagram: the.pro.fit I am looking to team up with more investors and run the calculations for various scenarios to find the best deals. Lets connect! 

 Following! 

Yes lets connect in the future Hector! Appreciate you reaching out.