All Forum Posts by: Account Closed

100% agree.  There are already issues in my partnership, mainly centered around who is driving the train.  There are also issues around motivation levels; aka I have it and they don't.

I don't have issues with motivation or accountability, but I can see why someone would want to partner up to get those things from someone else. I totally agree if your partnering for that reason, it will fail.

Having said all of that, I would actually recommend a partnership if it is truly the only way to accomplish a goal.  Just go into it with your eyes wide open.

Here's the thing I'm finding... Most people don't view real estate investing to be a career. They view it to be a hobby, and treat it as such. 

If a person was to start a new career, there would be an expected huge learning curve. There would be inherent motivation to learn all that was possible to learn and to take action on that knowledge. Most people learn, but not like they really should, and then never take action.

If you can network with other people in a form of unofficial partnership to help hold you accountable to learn (think mastermind or accountability groups), I can see the value in that. 

But if you view a partner as someone that will push you for the sake of pushing you in the legal partnership, that won't work long term.

I would use 1K for marketing.  This would start increasing my funnel tremendously.

I would use the remaining for flips and rentals.  Geez.  With 125K, that would rocket me into real estate super-stardom.  LOL.

As it stands, I'll grind my way up and get to real estate super-stardom anyway.  Just may take me a year or three longer.

I love thinking about scenarios like this.  It really puts you in the realm of the possible.  

Two things;

First, I couldn't have done my first deal without partners.  They had the knowledge.  I had the money.

Second, if you do twice as many deals while maintaining the same level of profit, you're still making more money, AND you're getting twice the experience.  Invaluable, especially when starting out.

Once again, I wanted to make everyone aware we will be having a meeting together Saturday morning (3-12-16) . Everyone that is interested is invited from Louisville or the surrounding areas.

9A - 11:30A

Jeffersonville Public Library, 211 E Court Ave, Jeffersonville, IN 47130 (basement meeting room)

We're going to be networking and getting to know each other.

We will be focused on networking.  Also, the thrust of the meeting will be determining where we are in our real estate careers and moving each other forward.  I see a mastermind / accountability-type of atmosphere.

Hope to see you there. Please contact me and let me know if you're coming. The meeting room that we currently have is limited to 10 members.  If I know more are going to come on any given week, I can book a larger room.

Nothing for sale, now or ever.  No speakers with anything for sale.  

Let's do it.  Beginner or seasoned.  Move forward.  Onward and upward.

Highly recommend reading 'The Real Estate Rehab Investing Bible' by Paul Esajian.

This book provides a multi-step process to vet and hire contractors.  If I remember correctly, it's something like seven or eight steps. You pull all their licenses insurance etc., before they ever step foot in the house.  You have a statement of work with a materials list and line item quote before they ever step put in the house to do work. You have everything lined out before they start work. It takes all the guesswork out of it.

Use an alarm for activities – 52 minutes of productivity by 17 minutes of break. Use white noise during periods of heavy concentration

I find when studying or researching, intense focus and concentration is needed.All of us humans have an issue with this, unless we’re superhuman.

The most ideal way to solve this issue is such:

Find a place where you can work uninterrupted.Turn off your phone and ALL distractions.

Gather all of your materials needed for the task, whatever it may be.Put them out in an organized fashion where you can get to them quickly and easily.

Gather all of your writing utensils and notebooks; anything you need.

Set an alarm on your phone for 52 minutes.Go to Youtube.Do a search for white noise.

Put a white noise video on play.Turn it up to a comfortable level.

Start the 52 minute clock.

Get to work.

Work for 52 minutes straight.Do not let anything break your concentration or interrupt your focus.

Keep working.

At the end of 52 minutes, you will potentially be exhausted; mentally and, potentially, physically.

Walk away from all of this for 17 minutes. Take a walk.Get a drink of water.Do something else entirely.

If you feel up to it, come back to the task and repeat.52 minutes.Intense, focused concentration is the key.Do not allow yourself to do anything else.

17 minutes of rest.

This is not sustainable all day, unless you want it to be.You can build 6-7 of these blocks into your workday, IF that’s all you do.This won’t account for any interruptions or emergencies, which are always bound to come up.

If you make it a goal to have 2-3 of these periods every day, you’ll find you get 3-5 times accomplished what any of your peers do.It’s the intense focus and concentration on one area or task that gets you to the finish line.

Keep rockin’.

I use docusign for all my purchase offers and extensions.  HUDS, Fannie Maes and short sales I have to go to her office to sign.

Those electronic signatures are going to be just as valid in court as any wet signature.

Just wanted to let everybody know that I'm getting an impromptu meeting together tomorrow morning.  Everyone that is interested is invited.

9A - 12P

Jeffersonville Public Library, 211 E Court Ave, Jeffersonville, IN 47130

We're going to be networking and getting to know each other.  Tomorrow is open as far as agenda, but I would like to take a few moments to talk about what everyone wants to focus on for the future.

Hope to see you there.  Please contact me and let me know if you're coming.

This is not a great position for you to be in.

I recommend again.  Make an offer.  Make it contingent upon seeing (and approving, by the way) the numbers.  

Easy-peasy.  You will know very quickly whether or not you want to proceed.

Never walk away.  Just make the purchase offer contingent on receiving the information.