All Forum Posts by: Tershant Rhodes

Thanks to everyone who took the time to comment. I will used all of the information you have given me as a stepping stone to being successful.

Again, I will say that Bigger Pockets is a great site for those who understand.

Wishing all of you much success...

This is a reply to the quote from James post.....

Quoting James....

I see a lot of new members post, many asking for help, but they fail to ask for anything anyone can provide. Many ask for deal analysis, yet they fail to post anywhere near enough information for anyone to accurately analyze anything. I have seen many others ask for monetary investments, which I find incredible since no with any common sense would want to invest their hard earned money in someone who has no experience in real estate investment.

Some other things I have seen from new members:
1) Asking questions that have been asked at least 100 other times
2) Asking for mentorship in the forums but stopping there. You have to be aggressive if you are serious. Find out who from BP is in your local area and ask if you can call them to talk about the real estate market and investing strategies. This will likely lead to a relationship and some real world mentorship. Note: I am in no way trying to speak poorly about new investors, as I still consider myself a new investor.

I am one of the members who will often post links to answer questions someone has asked, and I do this because the answer is already here, and said much better than I could have. Why continue to beat a dead horse?

BP is like any other networking tool...you get out of it what you put in. If you take time to educate yourself, network with other investors, and try to post intelligently, you will see the benefits. BP has been the single most effective internet tool I have come across, but like any tool, you need to know how to use it correctly.

I do not accept all colleague requests, because I feel BP should not become a popularity contest. I accept requests from people who I have seen post valuable information, people I have spoke with over the phone, and people I would like to work with at some time. I remember when I became an member on BP many people were not accepting my colleague requests. However, once I started getting deals going and posting more frequently on BP, that quickly changed.

End quote by James.....

My reply......

@ James ...... Your attitude about new people is just what I'm talking about. But we all had to start somewhere. It seems that people of your status who has done a deal or two has forgotten that it takes patience and the picture is always bigger than the mirror you look at it through. Most investors with experience tend to have a lot of ability to think outside the box where creative real estate is concerned but fail to realize that all people are not the same, learn differently, and sometimes need a little more. This is not to say that they should be babied but it is to say that we are different in our own ways.

I can only speak for one person and that's me but if you'd read my challenges and look outside the box then you'd realize that I've given and am still giving honest attempts, efforts, and abilities to getting it done and I don't believe that I'm asking for a handout especially if I say and am willing to back it up with even offering to pay for the time.

Your statement about colleague request makes a lot of sense and I concur that Bigger Pockets is a great place to be that's why I'm still here but don't spend time trying to find fault in a person simply because that don't always understand like you do. Instead do a good service if your heart and time will allow to grab someones hand rather than kick dirt on them.

As for beating a dead horse, I don't even believe that that's the case in most situations.....maybe the new person has tried to find the information but because the site is so large they got swallowed up by the information.

I'm not ashamed to say that I haven't done any deals but I'm trying to get there. Even you didn't take the time to read my journey ... you only picked bits and pieces then just as I mentioned assumed that I fall in that category of many others.

Open your mind ...... You will be blessed for it.

Wishing you much success....

Marc....you've made a great point and the knowledge is unreal but again it's scattered and it'll take what seems like a lifetime to piece it all together without assistance.

I can't speak for others but as for my low posts, it's because the language is foreign and it's easy to babble on and on about nothing when you don't know what you're talking about. People have an unconcious tendency to look at you like you're an idiot and I can bet you 20 to nothing that there will be a smart *** in the bunch that will do all they can to belittle the little bit of knowledge that a new person do have .... by throwing in big words with not much of a meaning. Then again, that's just me and the experiences I've encountered. I don't want anyone to pacify me but it a person see that another don't understand then it would be helpful to break it down to a point of understanding. That's all I'm saying...

@ Carlos ..... Yes, I've been reading many beginner books on wholesaling, Sub 2, and Lease Purchasing. I've ordered a lot of course material, and read as many blogs as I can understand in an continued effort to learn the business. Ny actions are those that follows the instructions in every book, off every blog, and out of all the course material that I have invested in with no success. I've called on newpaper ads, and FSBO signage also just to name a few with no success. I've been browsing through Bigger Pockets and still is left with a state of confusion.

Alot of the language is foreign, I try to, make sense of the numbers, and there is not a forum here that is simply and plain enough to teach a person how to go about doing a deal from A to Z. There's information here but majority of the time it's missing something like for example ... (what type document should be used or what should be said in an attempt to secure a property from a seller and vice versa for selling a property).

I've talked to sellers and even after following what's posted here and what I've learned over time, I've had no success and that is more than likely due to the fact that I'm saying the wrong things and just not armed with the right tools at the moment. That's why I poersonally and reaching out for an experienced one on one opportunity.

Yes, it's frustrating but I haven't given up and don't plan to because I really like the challenge. But that still does not forgive the fact that I admit to my short comings and am looking for a way to make them better. One young man commented and said that "new people ask for an analysis and don't give enough information for the forum to analyze" ...... maybe he just hasn't stop to think that maybe the new person just don't completely understand what it takes to give a complete analysis. See a lack of understanding is a major obstacle that stand in a persons way to accomplish anything.

As far as reaching out to local investors in my area. This is an excerpt of an email that I sent to a colleague after reading through the Bigger Pockets forum in an attempt to understand: (Please read below)

I've been taking time over the last week to read the forum on Bigger Pockets. All I can say is WOW! Although, I'm still not done reading I have compiled a list of questions that I am hoping that you are able to answer for me.

Here are the questions:

1. The county where I live now has a population of 12,635 and a total area of 441.1 square miles as obtained from the Planning and Zoning Department. The area is very rural so how can I make the best of investing in the town in which I live?

The closest REIA group to me is over a 2 hour drive. Would it be in my best interest to travel to that group in hopes of getting the local assistance I need to get started or do I just keep researching online until I get it?

2. Would it be feasible or should I look to a larger area?

3. When choosing a farm area what do I look for?

4. What are your suggestions for finding out if there are any investors in my farm area (or just area in general)? I am looking for a way to find them without violating the county ordinance for bandit signs. THEY ARE NOT ALLOWED!

5. Now-a-days, what are considered median priced homes (bread and butter properties)?

6. What does it mean to get the purchase agreement recorded to create a cloud on the title?

7. Do you have any idea on how much it cost or does the cost vary by state? I'm in Georgia.

8. How do I get to the 150K in the following example?

Example: I find a buyer who is looking for a 3/2 that has an ARV of 150K and sell for 60K.

9. What is the formula for purchasing below market value? What percentage range should I remain in?

10. (Second part of question 9)........Since I am starting out wholesaling, how can I hold contract for a purchase while leaving room for to add in an assignment fee without over pricing or seeming like I am trying to rip off the investor?

11. What is Hard Money?

12. What are points as they relates to hard money?

13. What is transactional funding?

14. What does TVM means?

15. In building a buyers list, what do I say to the people (investors) I'm placing on this list. (As stated before, I'd like to begin in Wholesaling as it will allow me to get my feet wet and build a reserve.)

Oh and lastly, I didn't know you sold insurance before :-) Coincidentally, I took a job 3 weeks ago as an insurance agent.....there's something we have in common :-)

So tell me, was it a successful venture for you? Why did you give it up? And can you give this rookie any pointers on how to be the best DARN agent in the business? Right now, I'm taking pointers from reading Burke Hedges's and Timothy L. Templeton's "Referral of a Lifetime." Kinda interesting...

Well I guess I've asked all that I have for right now but do keep in mind that there will most definitely be more question to come as I continue reading the forum so brace yourself.

Again, it's a pleasure ......... I know you're doing well......and I look forward to talking to you soon.

To you the best,
Tershant

Please email me at [EMAIL REMOVED]. Thanks

@ carlos ...... All of this brings me back to the drawing board.

Still.....I've not yet gotten answers and I'm still looking.

Even in contacting people on the board I have to request a colleague in order to send them a personal message and more than less the colleague request is not accepted for some reason. Now I'm not saying that it's done on purpose but it seems like the seasoned ones are looking over the new ones. I understand that they are nto obligated but again, we are supposed to be a networking community that should try to help each other and sometimes helping means individualized attention even if there is a charge.

I for one, don't mind putting in the work but it sure does help my confidence level if I can be sure that I am armed with the knowledge that I need to at least be able to walk away knowing that I've given them a run for their money.

Thank you for your concern Carlos...

Thank you Joshua .....although I've been a member since 2010. Trust me, no comment or no post from me only means that I don't want to come across as an idiot because the learning process alone is very challenging. I've also requested to be a colleagues and not been accepted by many. I don't know why but maybe they only want seasoned people to be their direct colleague. So I'm not purposely missing steps here or looking for a quick route. I am actively seeking the community that says that they are here for the people, hoping that someone will have a genuine interest in helping (even if it's paid help) people who wants to seriously understand. You have given some very good information. Thank you.....

Nick.....there is truly no problem with Bigger Pockets. It's just that no one wants to look like an idiot and most of the time when there is a new person who has been a member for a long time and not posted or commented it's because they don't understand and they don't want others to assume that they are unable to comprehend when all it may take is some one on one interaction. In some areas there are no near by real estate groups and that can be a detriment to a new investor .... so they reach out where they can to get the needed assistance. That's only my belief though.

Wish I was in Tennessee Curt ...... I'd most definitely take you up on your offer and work my tale off to make it worth your time too.

Great experiences are not to be taken for granted but to be well appreciated.

Thank you Curt for your feedback. I look forward to networking with you.

@ shanequa ...... not one time was there a mention of anyone being mad becuase they have to do a little or a lot of searching and I do believe that in my post I put that nothing is FREE and that a person does have to put in an effort to succeed. I really don't know what of that you missed.

The post is not about a handout it's about one on one support to the people who needs more than just reading through the site. No one wants to look like an idiot and the real estate world is not about faking it until you make it either. So it helps to have someone sometimes even with the links and other forums.

I think you completely misunderstood or misread the post as you have added to and that was not the goal.

Wishing you much success.....

Thanks to the people who have commented so far. Again, I truly don't believe that anyone here is looking for a hand out of any kind and I do understand that no one is obligated to assist anyone but we are a community and as a community we shouldn't just give a person a comment and expect them to completely understand, especially if they are new. Some people work better with hands on and that does not mean that they won't or haven't taken the time to reasearch the site for a better understanding. Maybe they have and due to the lack of understanding they don't want to make themselves continue to look like they're not catching on.

As stated in my post, there is nothing wrong with offering your service with terms on the agreement but at least let the new ones know that you don't mind offering the service even if you are getting paid for it. It helps.....and it gives a newbie extra confidence to go out in the real estate world and complete a deal when they know that they can have one person who genuinely (even if it's a paid service) does not mind helping them understand. That's all I'm saying.....