All Forum Posts by: Russ B.

The first rule of finding deals is, you never know what's gonna turn up. The second rule is, you need to be ready to run with what you do find. Otherwise, you may never find anything. Once you do find something, BP can be very helpful with the specifics - even if it's not what you came here to learn about.

I came here in early 2017 wanting to buy residential rentals, but after my first big (tiny) deal fell through, I happened on a chance to buy a controlling interest in a daycare business instead. I'm still doing RE investing (as the business's "real estate guy"), but it sure doesn't resemble the picture I had when I got in.. 

Thankfully,  BP was here to point me in the right direction early on, around where to find financing for small commercial. Once I knew the question, there were people here who could help answer it.

"I have family in from out of town."

"I'll get back to you"

Sounds a lot like like "I've got some people living here who aren't on the lease"...

Sounds pretty applicable to me 🙂

We went "cheap" with our house - bought it for about 1/3 of what people in our income range seem to be spending. Doing that has left us with the funds to take advantage of opportunities that have come along since. It's also enabled us to pay our house down much faster than a typical 30 year note.. we're only about 6 years in and it's already half paid.

Landlords provide housing to people, which is one of the most fundamental needs in life.

Sure, we want to make money doing it, but so does everybody else that goes to work in the morning.

Predicting the future is risky and difficult.

It's better to look at the present - is this asset a good deal right now, based on what its value does in average years and what you can accomplish with it? Is there some temporary external force pushing its value up or down?

The advice is to buy low and sell high.. not buy rising and sell falling.

They don't own any assets.. except a smoke shop? Meaning they own a store?

That sounds like an asset to me, unless I'm misreading..

2008 was a special sequence of events that, honestly, more people should have seen coming. It was like a game of musical chairs, except that half the chairs were gone when house prices stopped rising.

Out of state investing can be relatively trouble free when you're renting expensive houses to successful people, or when you have a large building / complex with onsite management.

When you're renting cheap houses in questionable neighborhoods to poor people, you need to be from there.

For me, it's real easy - the tenant is going to be my own business, so I only need to evaluate how well it'll perform for that one purpose.