All Forum Posts by: Chad Ballard

Welcome. I grew up in Southern CA but I hear that you do not last long if you are not a 49ers fan up there. Glad you got 3 for 3 right though with being a Lakers and Chargers fan as well as bleed blue. Good luck in your investing.

Thomas Saunders, welcome to BP. I live in Ecuador some time ago for a few years and it really is a neat place. I spent most of my time in Guayaquil and further south down in Machala and never made it north to the coast but people never stopped talking about how beautiful it is. I have always a plan in the back of my head on how to get back and I will soon. Keep in touch.

Got to love loops. Makes you a rock star when mining data in a spreadsheet.

Fernando Mendez If I were you I would be to keep educating myself. BP is a great place but also read a bunch of books that people here recommend as well. You need to know what you are talking about in order to present an opportunity to a potential partner. I would also look up a rental properties for sale in your area and go and take a look at them. Price the property out as you are learning. Figure out in detail what it would cost to purchase, manage and return a profit. What would be your plan if everything goes south? You need to be prepared to consider your partner's money your money and take any losses personally as if they were your own.

On the networking side of things is not about what people can do to help you it is what you can do to help other people. Local REIAs, family, friends, person in the grocery store line, your dentist, the person next to you on your next flight everyone has problems in their lives that need help. Don't shy away from developing relationships with new people. When they ask "what's going on?" just tell them then ask what is going on in their lives and actually listen. People can tell instantly if you are sincere of not if you are then they will tell you. Help them and it will return back to you. If you cannot help the person introduce them to someone who can. This takes time but do this now and it will pay off in the long run and not just with investing.

Or a lawsuit from a tenant, lol.

Welcome to BP.

I think college is a great time to begin investing. You may not have much capital but you do have time and flexibility. I would network and try to find an investor with capital and little time. Maybe work it out to rent a place with other students that you can help manage. Keep reading here on BP there is a lot info to help you get going.

Michael G, a good accountant is worth his weight in gold. Your taxes are only going to get more complex as you go on from here. I would contact an accountant and get his/her advise if you do not have one already. Make sure they have rental properties themselves that is a good sign that they "get it" when it comes to rentals and taxes. Anyone can fill out tax paperwork, you want to look for someone that will help you create a plan and strategy.

Take a look at this thread.

http://www.biggerpockets.com/forums/109/topics/74479-how-much-cash-do-you-keep-on-hand

Will F. I cannot help with short term interest rates since I do not pay attention that closely however I am a numbers nerd and can help with the amortization schedule calculation. What are you confused about?

I used to clean carpet to get me through school. Nothing beats good old fashion steam. It really does extend the life of you carpet. I have my old boss's company come and clean my rental and it paid by the tenants.

I think Jon Holdman is very smart to plan for the worst and hope for the best. If the carpets last longer then great if not you are prepared. I see that as real investing. If you have to hope that things work out you are speculating and Murphy's law will catch up to you.