All Forum Posts by: John Arendsen

Ha! Sounds like a guy that just wants to avoid his/her responsibilities. In Cali we have to 1099 if he's not a partner, employee or family member who's one of the owners. I wouldn't even deal with a guy like this. Does he even carry workman's comp insurance?

Boy I would never walk down that path and I'm a dumb ole contractor. That is a very broad and open ended question. So much depends on the type of options you're talking about. You talken tile floors, wood laminates, vinyl sheet goods, carpet, etc?

What type of countertops, quality of cabinetry, window coverings, plumbing and lighting fixtures, appliance and the lit goes on. You need to supply a lot more info before you'd ever get someone to gestate that. Plus a lot depends on your particular geographic region and local building and material costs.

@Lane A.Another thing you may want to consider depending on the various funding requirements that you will run across. Try to look for investments where accredited investors only are invited to participate should you want to delve into bigger investments. This will tell you that the folks you are partnering with have a net worth of at least 1 million dollars.

If there are investments that don't require accredited investors make sure you check them out thoroughly. A good credit check from the other investors involved will tell you what their made of. Do they own a home, and how much do they owe on it? How about other properties? Types of properties? Are they on time with all their payments? Are they profitable ventures? What other types of investments, annual income, etc do they have. What are their credit score? Are they over leveraged? Do they pay on time? 

Be sure to verify all funds coming into the investments. No IOU's No carrying someones notes. No exchanges unless they're checked out and thoroughly approved by the other investors. No KIND in lieu of CASH. That's baggage and often times garbage. An accredited investor is usually much more sophisticated, solid and well healed and have the staying power, patience, understanding and wisdom to see a deal through.

Simply and realistically RE Professionals are only here to provide a service for those who need or want it. Not everybody needs a licensed Pro. Nor should they even have one for that matter. There are folks that are perfectly qualified and capable to do their own. But don't for a moment ever think that everyone could do it on our own

As for technology getting smarter that's a hoot. It has its own pros and cons too. As technology becomes more sophisticated there are those folks that will be evermore confused and have all the more reason to need the services of a trained Professional

Plus there are those like me that just plain would rather pay someone to do it if I'm not quit sure myself. I just closed on my first commercial property and plan to do more. But I brought in an experienced Commercial RE broker to write up the contract for me. 

Wow! Talk about a learning curve.

@Lane A.so aptly stated seek out the best of the best at every level. Not totally sure having to take them OTL will win out over just a good ole fashioned eyeball to eyeball. But do take your time interviewing every/any professional you wish to get involved with. 

The one thing I would be very worried about though is getting involved with friends. Unless you're connected at the hips and drawn blood on one another as young Indian Guides try to avoid friends. The best way to lose friends is to get involved with them in a biz deal that goes South.

I'll buddy up with ya anytime soldier. I like where you're coming from.

BTW as @Zach Mitchell advised start building your team now. Just like baseball requires total teamwork and loyalty to your teammates so to does building a good team to help you build your RE portfolio and career. Recruit the best teammates to build a great team and you'll be a champion in real estate.

If you invest out of state or in other areas of the same state seek out the best RE agents in the area/s you intend to invest in. Don't make the mistake of using just one RE professional to help you purchase all your RE.

The first thing they teach you when you start studying RE is that it is 100% local unlike a lot of other professions. No one RE professional can help you in every market. Unlike a designer who's only obligation and responsibility is to understand your tastes, learn about the genre and design criteria relevant to the market area you're buying in, etc. a RE professional whose worth his/her salt will only focus within his/her farm.

Hi @Lane A.You came to the right place by joining BP. My daughter, voted one of the top 100 Interior Designers in the World for her second year in a row,  has had the privilege of working with professional athletes Nationwide since starting her career almost 15 years ago.

I can tell you that you are one very wise man at this station in life to be thinking the way you are. One of my daughter's clients was a professional quarterback for several NFL teams during his career. He started out with the San Diego Chargers which is where and how he and my daughter began a professional relationship which has lasted over a decade now.

She helped him design and rebuild his first home in Del Mar which he still owns and rent/leases to other ball players. Then when he was traded to the Rams he bought another home to live in and a condo for an investment to rent/lease which he as been successfully doing since he purchased. 

After a couple of seasons he was once again traded to the Philadelphia Eagles where he and his new bride at that time, who played World Class Soccer on the US team that one 

the World Cup, purchased a beautiful flat and had the building in the photo for a view. I took this photo myself from his living room whence visiting him in Philly with my daughter and family.

Point of all this is that now that he has retired and gone on to become a sports broadcaster he has yet to sell any of the properties he purchased and refurbished/remodeled. Instead, aside from his broadcasting career he continues to buy and hold and my daughter designs, builds and/or remodels very nice real estate that he continues to rent/lease to fellow professional athletes all over the USA.

At 26 and a young aspiring athlete with a limited shelf live as a professional athlete you are spot on to be thinking the way you are. My daughter's client and very close friend have gone on working as a team and have built a multi million dollar real estate portfolio. 

So while you have the earning power, the youth and the energy you must JUST DO IT!

@Gloria Mirza is spot on as are a lot of other folks. Whatever you do just bite your lip and stay cool. Don't do anything that could get you sued or lose it with her. It's pretty tough sometimes when your dealing with a blatant flake if that's indeed the case. Good luck.

Semper FI my friend and thank you sincerely for your service and the sacrifice you made to help keep Americans safe.