All Forum Posts by: Ryan De Jong

@Jeremiah Dye The idea is to set your goal 10 times higher than your "ultimate goal" so that you think about your actions differently. Lets say that you want an income of 100,000 per year as a goal, now thinks about how you have to make that happen for a minute.....

Now make your goal 1,000,000 per year and think about what you need to do to make that happen for a minute....

Did you notice more excitement and drive and motivation in thinking about making a million per year?

 You see, if you fall short of the 100,00 per year goal then you might be at 70,000 or 80,000. Now by 10X goal setting if you fall short of 1,000,000 goal then you are very likely to be way over your first goal of 100,000 per year. Does this make sense?

 For me, the very moment I 10X my goal, I start to think different and make bigger moves in every aspect of my life. It may not work for everyone but it has changed my life, just try it.

Also on a side note, the more knowledge you have, the less fear will be present. I used to think investing was hard and that a big commercial property was scary to think about buying until listening to all the Bigger Pockets podcast. Now I'm running numbers on big deals without fear and only thinking about what I CAN do to acquire them.

Just know deep down that you truly can do anything you want. Its just a matter of getting the knowledge of how to do it, and following the ones who have succeeded before you. I am by no means an expert and can only speak to my own transformations in this life. My biggest influence has been a combination of Napoleon Hill's book Think and Grow Rich, Bigger Pockets, and Grant Cardone.

 Keep on Keepin on!!!

 Ryan

I agree with @Anthony Gayden ! It may be too small. I suggest getting Grant Cardones 10X rule. Then listen to ALL of the Bigger Pockets podcast (won't take that long if you listen in 2Xspeed on iPod 10X style). Then listen again to the 10X rule and you will be unstoppable. A goal without a plan is a dream and a plan without action, well, you know. Good job on the life journey, I can tell you will succeed by your willingness to learn. Just being on this awesome forum is doing more than most. Please post your successes as they happen as they inspire everyone here ( I assume ).

@Clark Thornhill I purchased in late 09. The place was a total dump. It was bank owed for two years with squatters raising pit bulls in one unit etc...I got FHA 3.5% down and have been working on it since. So it was a combo of all new drywall, granite countertops, carpet, new asphalt, retaining wall, decks, along with appreciation of Colorado Springs market. Its easy to live in one of the units because of the view of Pikes Peak and Im right next to Garden of the Gods. I never thought I would hear myself say Im pretty good at polishing turds but.....I guess when you don't have a lot to start with you pick the worst place in the best neighborhood and start polishing with patience.

@Trey Gartner I am actually in the middle of a cash out refi now and I am switching to a conventional loan, and yes it does get rid of my "MIP". My lender will do up to 65% LTV on 4plexes and up to 80% LTV on single family, so on a 4plex you need a lot of equity (but that's my lender). I used forced appreciation by fixing it up and got lucky to be in a hot market right now.

I purchased my 4plex with FHA 3.5% down, live in one unit, and have been living for free plus cash flow since. You can fix it up and add value while your there and then refi loan later to get rid of PMI. Best decision I ever made!

@Jenn N. Thats great! I am a newbie to the Airbnb thing and would love it if you could direct me or send me links to info on it. I can't seem to find a lot of info on the setup like, llc?, Tax rates?, rules in CO? etc.... I am remodeling now and am a sponge for info and any help would be great! 

@Mitzmichael Sumilang Yea right now is hard to find deals. I would look off market and "drive for dollars". I got lucky and was ready at just the right time. Look for places that don't have good management like needing maitenence and overgrown bushes etc... and mail them letters. I would not be in a hurry around here though as I feel we are at the top of our market. Markets like this scream creativity! I will post my Airbnb experience as it happens.

When prospecting a new tenant for a rental, upon their exit walk them out to their vehicle and take a look in the backseat. If it is filled with McDonald's trash bags or food or junk that may stink, that is a glimpse of how they will treat your place.So no matter what the credit score is or how they look on paper or in person, that trick is a great way to find out how your place will be treated.

@Mikel Gabriell Let me know who you find buddy, I need one too!

@Shandi Keller, I am currently house hacking a 4plex on the west side of Colorado Springs and am in the process of turning one of the units into an Airbnb. I will be posting on here my experiences with it and should be up and running by august.