All Forum Posts by: Tim Ryan

Danny, you are getting educated at the university and can continue to learn things like financial modeling, technical formulas, debt financing, etc.  Great. Keep it up.  But my advice for your extra curricular is not to do more of the same. Instead, study the entrepreneurs. Have you read Richard Branson Losing My Virginity? Read it.  Next is Jesse Itzler.  Read or watch Youtubes.  You are smart to minor in entrepreneurship. I'm not sure what that is teaching you. But I can tell you that learning from these ultimate entrepreneurs has been priceless.  Let me give you a hint into what I hope you'll gain:  both of these guys and so many others did not have all the education and information about businesses and direction they took. But they did it!  

Amanda, being in San Diego you will have to get comfortable with out of state investing. It's a must to make cash flow and to even afford the properties to buy.  My advice is to pick one location and go there as much as possible. You need to get to know people there. Realtors, insurance, Title companies, contractors. But also, the non-salespeople. The store owner, the woman who makes the coffee at the Starbucks. This is where you will begin to open up to off-market deals and some real advice on the areas in town...

I say no to Memphis. Yes to Chattanooga but you are late to the party there. The new up and coming area is Milwaukee! Mark my words...

Patience is one way - true.  But working the right market is the best way. Sounds to me you are not in the right market. Are you willing (or are you) investing out of your state?  Probably need to.

Have you posted on regular sites also and not called it Section 8?  Because (and here's whats funny) many Section 8 people would rather not live near Section 8. Huh?  yeah.  I did Section 8 years ago and I always had them come to me and ask if I accept it. I never advertised it.  Now, I don't do Section 8. That's another option.

Good post.  Investors need patience.  I will no work with those trying to get rich quick.  In fact, I tell people this is a Get Rich Slow Scheme.

Angie, the answer is: in growth markets. Be careful if they've already grown! Some of the cities you've mentioned are for sure too late. Some may be ok.

Here is a book recommendation for you - Unlimited Real Estate Profit by Marc Garrison. It's out of print but you can find it used on Amazon. This book completely changed my life forever!  Right before this book I was buying one house.  Three years after I owned 330 units!  Let me know if you order it please. (I'm tracking how many people act on a bold statement like that. Bit of an obsession for me maybe ;).

All depends on the interest rate on the primary home and if fixed. Say you have a 3% rate.  I could easily make 10-20% on a rental property. Why pay off a low rate interest. For me, even a 7% rate on my primary home would not want me to pay it off. However, I would agree that a loan on a primary is considered bad debt (Robert Kiyosaki). So ultimately, you should sell your primary, rent a cool house, invest in rentals.  lol (but think about it).

Hi Ashley, I don't invest in Indianapolis, but I do in another Mid-West location.  I'm also in LA so wanted to connect and say good luck!  Let me know if you'd like to hear where I'm investing and in what, let me know.

Hey Andrew, I am buying in a Mid-west city (but not Cleveland). I did one purchase of a 4-Unit with the DSCR program. But all the others have been with local banks. That is what I have found to be a great resource. The key is to go to the market and invite the bankers to lunch/dinner. Get to know them. Have them like you! Be sure they know you love their town and you are not flipping or trying to get rich quick there. Even say you might relocate there someday (only if true). But this is key. I know I would not have received a yes on these loans had we not formed a personal relationship.