All Forum Posts by: Rome Wells

I blog.... and write poems about REI... and share my journey to others in context of math, engineering, breakdancing, art, having a full time job, not having one... and everything beneath and below. Always remember when you feeling less motivated that there are people way less fortunate than you. Keep that on the back of your mind on the rainy days and in days of motivation be the thought leader.

I like this philosophy, i wish one day i could attend he meeting perhaps in NYC, however for now i am creating my own mindset... and helping other mindset become 1 StudyGuide.net/Real-Estate

Unfortunately hopping across multiple strategies can indeed drive people nuts, the key is yes having balanced life... I look up to great veterans like this with 16 years of experience teaching others doing amazing things.

Thanks for bringing this meeting to everyone's mind. One day i may attend :)

Remember great deals are made not from fear, but from the terms you make them out to be.  

Ned I definitely have to check out that book too. Indeed working with assistant is important, It may sound like I have more options than other people are, yet somehow I still don’t feel that way... I feel as if I am swimming through my journey and hoping for the best, but I would like to build this journey with someone who can understand and relate to me. Maybe in my journey I will find people who can raise money. Maybe I will be one of these people or maybe I will be the syndicator or maybe I will be both or maybe I will be neither of them it’s just there are so many infinite paths that to be honest I felt a bit overwhelmed. It would be cool to hear more about your business to see if perhaps there are some synergies in between. I am not promising anything, but it just somehow i feel that my mind transcended and you can see this reflection directly in this post. From being ignorant person and converging into logical person, thanks to Nick and other people who chimed in and pivoted me towards the right path. Although I am still exploring this path Ned it would be cool to hear how your business can fit in. Note I must warn you I started only 7 month ago and over the past 7 month I simply did nothing but blogged on my site about human brain and then something crazy happened I started to rhyme and became an incredible writer... who many real estate investors recognized as the real deal. I have no idea where my journey will take me, but I do know one thing... I want it to be in multi family commercial real estate investments. Hopefully one day we can conned Ned and you can share with me your story just like other folks did on this group. Heck with Omar I had really great conversation he is really smart just like many other folks in this group. It’s just I feel that I am all over the place and my mind races faster than I can think... as contradicting as it may seem.. I have no idea who I became, perhaps I mentally gone insane I do not know Ned, but people just glued to me that’s all I know and I am just seeking ways to make my freedom true while helping other people reach their freedom too. I am afraid if I start reading many books I end up losing my own self even further and become even more shifted in my mind. Hence I really do not know if reading too many books is a good idea for me. I literally create books as I write, but one thing for sure I learned is that my weakness is to listen. I need to learn how to do both, then maybe perhaps something will turn out of it Ned. I’d rather get attacked by others telling me plain truth so I can realize I am wrong in early stages vs falling further into abyss. Thank you Ned will hope to hear you connect with me and tell me your journey. In regards to having other people do things yes hiring assistant is the key. Which is something that I am hoping one day will happen. It will be easier for me to relay my mind since I documented it all directly in my blog. Which I can just give to assistant in a form structualized course to process. Ned in my blog I am creating digital warriors using the principles that I designed my self in the process of analyzing Nicks Omar’s and David’s responses. Where all of my warriors are real estate investors either who want to get out of rats race or already out of rats race or who want to invest or who already have a building. I am simply blogging about it all and combining both marketing, education and REI into one system that specially focuses on real estate investors and helping them realize the truth while converting them into my digital warriors who can brings deals to me if they happen to be good in bringing deals or bring money to me if they have money or providing other mutual value where in exchange I provide my mutual value. As I already explained to Omar I have 10000 teachers in my search engine that I created and failed in monetizing. I didn’t give up I simply pivoted... to bring people into my journey and harvest my very own skills that I developed yet failed with from the past to carry them over into real estate investment world in the form of success infused into a single company with combination of marketing, education and REI services all in 1. It was very easy for me to do what I do, which is blog, but then something insane has happened... in the process of me developing my system, my brain started to create relationships, people started following me, my brain inadvertently started even writing poems.... Somehow my art with poems with breakdancing with writing with math with engineering combined itself into one crazy snow ball... falling down at rapid speed down the hill collecting all the snow. I know precisely how that happened and I explains to other real estate investors also how they can master the same skill what I refer to as “The Secret Art of Pivoting”.... The skill that is beyond raising money and finding deals, but the skill for shifting minds... If it didn’t happen to me I wouldn’t be so excited, but it did... and I literally show my entire transition from non awareness and ignorance state of mind into transcendence and somehow other real estate folks are glued to it all... like to some sort of color movie vs black and white movie from the past in comparison to what exists today.... in any real estate investment courses within exception of just few. The emphasis of the system is very clear the system focuses on other real estate investors helping them build their own financial freedom journey while watching someone like me Rome Wells and Robert David Lee crack deal = money equation in real time in the blog... Somehow Ned what happened to me is something that is beyond success, I learned how to shift minds... using my art that I teach directly in my blog... All I did was just listen to what David and Omar and Nick told me and simply followed the truth. However I am not sure where should this skill take me.... I know that I want this skill to take me into freedom while helping others in context of developing the educational, marketing and REI investment system further but I have no idea if I will succeed or not succeed. All I know is that somehow I can connect people together at least in the virtual world and that’s the skill I teach. I would love to learn how take that skill into real world, and hope one day someone will help me from this wonderful Bigger App lets group .... but in virtual world I became the digital ninja beyond my very own state of comprehension.... other than just approximate idea that the reason all of this happened was because of my previous failures. Anyway Ned and Nick and other folks thanks for chiming in... once again I am not successful in anyway it’s just I discovered my skill that I feel happen to be the key to it all.

Nick thank you so much!  I will try that! @Nick B.

Thanks for your response @Nick B. I listened to your advice and to @David Thompson, both advices are quiet fantastic.  Also In the process of listening to your advice I listened to @Omar Khan advice.

David Thompson detailed advice is what I started precisely executing... in rather interesting way... pretty much just following the exact same thing David shared... and created a system for getting deals under table, where deals come to me in continuous stream, without me doing any hunting.  (although i am still perfecting the system).

Hence that completes left side of my equation deal = money.  

The System is what I am working now... and it has factors described from all of you in this post.

The right side of the equation is what I am working on, and actually to be honest I listened to your advice Nick and was working on both sides of the equation.  

Your advice Nick was high level, David's advice was super deep, Omar's advice was precisely the type of advice that streamlined me into thinking mode about which Syndicator I should I use.  

However, in my discovery process... I experienced another conundrum..  In order for me to raise money, i must leverage track record....  meaning i must leverage experienced syndicator.  However, experienced syndicators are hard birds to catch..  

When it comes to raising money people ask for track record...  leveraging track record is the key... without the track record it's a bit difficult to get the syndicator and therefore it's a bit hard to raise the money with this peace of the variable missing... in the equation.

Note... i also managed to crack the right hand side of the equation and was able to find real estate investors by simply making them come to me.   However, in order for them to trust me.. beyond just me... many i am sure will ask for track record..   which is the reason why i would need to have a syndicator who has the track record whom I can leverage... who can have boots on the ground and get the deal done... 

The problem is... i can't find such syndicators, other than Omar... However, Omar is very high caliber person like David and like you Nick...and most likely don't have any time to explain anything due to handling other big deals etc..  and other hybrid syndicators who i reached out in my initial journey faded away, simply because they didn't see me offering them any mutual interest, 

they were looking for money and I didn't have any money, they were looking for... deals and i didn't have any deals... they were looking for investors and i didn't have any investors, now that I figured out how to get the deals come to me and how to raise money... i am simply trying to figure out how to get the syndicator person who has access to deals with boots on the ground shine up in front of me... to see if there is any mutual interests in their and my capabilities.

Here is what happened so far in my journey 

When i attended my first meeting in Manhattan NY a lot of people who i spoke with were motivated, but faded away, simply because i was caught up in my things and they were caught up in their things.

So now I came back and trying to see if you have any advice by any chance for people like me or any other wonderful folks on Bigger Pockets... what do we do i such case... how can i get syndicators with track record whom I can leverage as part of my LLC?

Or that will never happen and syndicators prefer to exist within their own LLCs working for some other LLC and prefer not to deviate themselves from their current LLCs into station unknown.

In simple words.. i am looking for syndicator who can be part of my journey, while I am part of their journey... who is also investor in real estate with track record, who shares mutual interest in making money from deals that my system brings automatically over time.  Any ideas how can I get such syndicator?  

This syndicator must be good in numbers like Omar, and must be good in understanding how to analyze deals and who closed other deals... and happen to reside in the area with boots on the ground...  in a profitable area.. where investing into apartment building from cap rates perspective and other factors makes sense. 

Finding such syndicator can help me leverage David Thompson's advice and Omar's advice... but i don't want just the syndicator, i want someone who has a track record specifically in syndicating 2 to 5 million apartment building properties.

My System is in development stage hence there is no guarantees of any sort that it will succeed (however I got motivated by other big caliber folks like you to go for it and try it out)

Note i must say up front my system that I am creating is in development stage... I am sort of throwing this hook in the open with hopes that either Nick you or David or Omar or any other wonderful folks in this group can answer..

I can't say right now at this stage that my system will be successful or not.... i can only have faith that it will work, i am not certain that it will Nick, but maybe just maybe it will work, however once again i don't know... 

I managed to figure it out in mind this equation deal = money, but in practical sense i have not pulled any triggers such as getting deals or raising money and in fact i have no idea if I will ever raise money, for any deals... therefore yes syndicator who would work with me.. .would probably not see any intimidate value out of me... and neither will i know if this syndicator will bring any value to me even if they have a track record, because majority of such syndicators are already busy with their lives...    

So i guess real quick... Nick or any other folks in here is there any advice that you can provide for how I can break such conundrum?   In simple words, how can i get the syndicator who's track record i can leverage and really be the deal syndicator in the even if i do get the deal, but be part of my journey, while I would be part of his/her financial freedom journey.... any ideas if such people even exist on Bigger Pockets or am I just dreaming.

I like to dream a lot too, but i am just hoping that my dreams can maybe one day come true... Or maybe some folks will respond and will say... Rome Wells keep dreaming... 

Any feedback from you Nick, David, or Omar or from other wonderful folks in this group would be greatly appreciated.

Everyone will provide you advice of their own, but at the end... what you must ask yourself.. is...

Do i have a full time job or not?  

That's question #1

Can I do this part time?

Yes or No

That's the 2nd question...

Answer these first 2 questions then proceed with creating long term pivotal strategy, with sprinkles of the short term strategy in between.

Geo factor is great, but in certain cases, out of area investment in real estate is a lot better, less stress where you do not even have to be the landlord and invest passively.

Being landlord, is great for some, but not for others.  Fix and Flip sounds great, too much work, although if the deal makes sense why not.  Waterbury cash flows well, appreciation not so great.  Compare that to NJ Elizabeth and fly like a bird in appreciation, and cash flow.  

Taxes in CT high and cap sense near metropolitan areas don't make sense.  Yet don't look at cap rates only, look at upside value potential, that is if of course if your strategy is fix it up, hold it up, refinance the beast then sell.

I am not in position to provide any advice in real estate investments (since i didn't succeed yet, but i can provide my freedom goal and my point of view).

 I am sure many folks in this group can provide a heck of lot better real estate investment advice than me.  However, try to answer the first 2 questions that I asked you first, the see which strategy would fit the most for a particular deal that come across..

Also when it comes to 5 unit houses or anything like that... well... it's just i feel there is  a lot of headaches with 5 units, unless it makes conservative underwriting sense.

Don't spend too much time thinking what make sense vs not... while you do that other real estate investors grabbing deals, yet be like a bird, free like a bird with your mind... and drive your exit strategy to that freedom..

Team up with real estate investors, wholesalers and boom, boom, boom makers.  Follow them, read their articles, and yes... avoid having to deal with sophisticated real estate investors for any additional capital if you are thinking of investing together. 

Multi family houses in CT area such as Stamford are basically non existent in terms of any conservative underwriting sense.  Norwalk is great, it's expanding, with the new mall, yet the properties are expensive and don't make cap rate sense and even if you add value in many cases.. unless you find it under market.

Follow the boom boom boom getters to see how to get it under market cheap and you will find something or dive outside of the box, and go for out of state deals.  Navigate your way freedom path with desire to help others while helping your self in context of looking for your investment opportunity.

Leverage other people ranging from real estate investors, agents, brokers, property managers and lenders in your discovery process.. Create secret pivotal hooks to pull them in your direction and look for moderate returns from investments rather than unrealistic.

If you decide to get deals to come to you, there is multiple ways of doing that.. I haven't got any deals yet.. i have a specific reason for that... however other wonderful folks did... and can chime in specifically how they do this.. Yet the first thing that comes to my mind is doing anything ranging from direct mail, probate, going through court records, searching for liens, and hunting for truth, while intermixing a bit of digital marketing here and there to get homeowners to call you, while you would help homeowners solve their problems.

The thing is though, all of this is complicated and sometimes it's important to realize something very simple... if one strategy doesn't make sense.. don't look for a deal that fits in the strategy.. instead search for deal and if the deal makes sense decide on the strategy, and if it doesn't make sense for you, but perhaps makes sense for someone else... share this info with others, and get bliss of happiness in return.

What i have noticed over the past 7 month of my real estate investment journey, of simply creating dreams, is that there are multiple subsets of people all around us.. specializing in all sorts of investments, your goal is not to fall into the trap of others.. but instead.. realize what makes sense for you interms of your financial freedom pivotal goal.

I am not an expert in providing any advice, after all who am i... i am just the guy who failed in life many times, who is trying to dive into the field of real estate investments and discover truth.

While I am discovering truth... other folks finding deals and the life goes by... Remember don't get stuck finding truth, and instead team up with people who have reasons to help you in finding a deal in CT... or dive outside of the deal that makes a lot more sense... in terms of simply being passive investor...

Whatever the maybe, remember it's not about cap rates, it's not about what city is best, it's combination of it all... and what makes it all is your pivotal mind set.  

Hope my advice helps

Rome Wells

Scott since I am responding to the post from 6 years ago... I hope by now you come back to me with your response and say... “Thanks Rome Wells but I already ate”

Very interesting story. Sounds to me that you have only educated yourself with single real estate exit strategies... “wholesaling” watched lots of seminars for how to be wholesaler and associated your perspective strictly with the spectrum of wholesaler. When in reality better approach could have been associating your mind with spectrum of simply being “real estate investor” and leveraging what Rick defines as... “straddle play” option. One of the quiet creative options ... that you can leveraging when it comes to controlling the deal.... Read some of Rick’s articles... at first it may naturally appear that Rick speaks in riddles... but as you gradually begin to read more and more of his posts about “probate”... the more and more you will become to get amused by his comments and gradually begin gathering incredible wealth of knowledge for how to deal with all sorts of probate related circumstances. Sometimes if scenario doesn’t allow for wholesaling perhaps some other type of exit strategy can suffice instead... Or perhaps connecting the dots in this circumstance under this specific set of conditions may perhaps not be feasible... In which case you simply go out get your self a nice steak enjoy the steak and refer the deal to the local flipper for referral fee... then come back again... guns swinging, learning new strategies for how to invest into real estate beyond wholesaling.

Ricks reply about straddle play seems to be quiet epic. I instantly imagined myself controlling a horse on the carriage with 2 ropes. Rick seem to be connecting the dots from both perspectives of creditors and from perspective of investors who creditors typically deal with when it comes to investors paying off first position lien or second mortgage liens, and stating that there are multiple ways of transferring deal using 2 strategies ... either using strategy of finalizing transaction to go through the final stages of probate (during either of the 3 stages) or buying off the lien judgement, depending not the equity... The probate concept of pre, open and closed state all have conditions that can be favorable or non favorable in relationship to you closing on the deal and getting it under contract. To be honest I am also a bit new to probate concept and tax liens and judgements and subject to types of acquisitions. All of this real estate Mumbo jumbo makes my head to be honest spin sideways. However, the multi dimensional factors and art of the deal from the standpoint of multiple variables and it’s inner dependencies indeed makes real estate investing quiet interesting endeavor to follow. As you dive deeper and deeper into variety of strategies... you gain compounded knowledge that in reality most certainly can be amazingly beneficial to folks who are interested in wanting to outgun their completion. In fact I would not be surprised at all with Rick stating that straddle play method of controlling the deals can outgun rehabbers using the power of negotiation. However... imagined if you can intersect the dots across multiple strategies and be able to rehab it... how cool would that be? Probably very cool... that is of course if you enjoy rehabbing... or having lethal synergies behind rehabbing that pretty much can help you outgun your competition not only from the creative strategies of saving the deal using the straddle play, but extrapolating this deal further into greater profits, with use of creative rehabber synergies and creative money saving mechanisms in context of adding upside value to the property while simultaneously making sure that folks who live in your property end up not creating havoc and end up paying you rent in a motivated manner. Combine all that with commercial multi family real estate inter mixed with raising money for for private lenders and multiply that by the number of multi units in one complex and creative tax strategies and you get yourself a wild wild synergy, helping you save the deal and go beyond. Sorry if I am too theoretical... but it is what it is. It would be cool to know how your deal went.