All Forum Posts by: Stacey Olson

Hey all, please let me know by 1 p.m. today if you are planning on coming tonight so that I can confirm numbers with the restaurant! RSVP via Message is a great way to go. See you soon! --Stacey

Welcome @Garrett Diegel!

My husband and I are new to REI as well. I recently started a couple of forums that have resulted in a few gems in terms of good and bad REI habits. Maybe you'll find some of the responses helpful as I did:

http://www.biggerpockets.com/forums/48/topics/1419...

http://www.biggerpockets.com/forums/48/topics/141921-worst-rei-habits

Good luck in your endeavors!

Stacey Olson, Tacoma, WA

@Westin Hudnall last but DEFINITELY not least! :). These responses are  full of experience-based insight. Good stuff!

What do you consider to be some of the worst, time wasting or most destructive habits of new Real Estate Investors?

What do you consider to be some of the best early habits to establish as a real estate investor?

@Hattie Dizmond, I am wondering about the ethics around handling an FHA purchased property that way. Would you mind speaking to that a little (do you think it's a grey area, a non-issue, or ???). Am I understanding correctly that deeding the property into a trust with both parties as beneficiaries is a way around the FHA requirement that all parties who are on the mortgage occupy the residence? Are there legal ramifications in a transaction like this?

Many thanks in helping me get a handle on this!

Loving the responses! Thank you. @Larry Turowski I'm with you, this kind of information, these kind of discussions, this type of input is definitely a part of what keeps me going, especially in these early days as we work at getting our REI life going.

So, here's the sum of the input so far (thoughts?):

1. HOW LONG UNTIL YOU CLOSED YOUR FIRST PROPERTY (FROM WHEN YOU FIRST GOT SERIOUS)?

73% say <1 year

20% say approx 2 years

6% say approximately 3 years.

2. WERE YOU WORKING FULL TIME OR PART TIME ON REI WHEN YOU ACQUIRED YOUR PROPERTY?

87% say PT

13% say FT

3. MY FIRST PROPERTY CAME FROM _____ (MLS, DRIVING FOR DOLLARS, YELLOW LETTERS/POST CARDS, ETC.)

47% say MLS

13% say Marketing Campaign

20% say Direct Contact with Seller (FSBO, etc.)

20% Other (Word of mouth, Take over payments, etc.)

4. MY FIRST PROPERTY WAS LOCATED ______ (NEAR MY HOME, OUT OF STATE, ETC.)

100% say Near Home

5. I HAVE BEEN INVOLVED IN REI FOR _____ (MONTS/YEARS) AND I NOW HAVE CLOSED ON ROUGHLY ______ PROPERTIES.

13% say <1 year; 2-4 properties

7% say 1-2 years; 4 properties

13% say 3 years; 3-11 properties (3-27 units)

13% say 6-7 years; 4-21 properties

20% say 9-10 years; 5-24 properties

13% say 11-19 years; 3 (15 units)-100 properties

13% say 20+ years; 50-1000 properties 

6. I CURRENTLY WORK AT REI _________ (FT/PT)

20% say FT; 80% say PT

Hi all! @Tiffany Plovie just contacted me and suggested that we combine forces (Tacoma local with South Puget Sound) for a September meet-up.  We are discussing the weekend of September 13th. I'm thinking this is a good idea in terms of extended networking exposure. What would you all think about a big meet-up in September and then we can plan for another time to connect in October and/or November for those who could use the added pick-me-up(s)? 

Saturday September 20th is a back-up option. Let me know how those dates work, then Tiffany will put a message out to the list she has going (with everyone in this forum included).

Best to you as you bring your week to a close!

Stacey

@Account Closed @Brie Schmidt From the time of your first REI purchase, how long was it until you were able to consider yourself full time?

Hi all,

My husband, Eli, and I are ready to meet some of our local BP community face to face.  I'm thinking about planning a little informal gathering here in Tacoma (probably @ the Ram down on the Tacoma waterfront), but wanted to put my feelers out before making any official plans. If you're interested, please respond with the following:

1. Top two choices for day of the week.

2. August or September?

Thanks!