All Forum Posts by: Timothy Trewin

@Johnathan Butler 

From what I can see that is a very good business plan and very well laid out. It seems as if you have covered all the major areas. Stick with that and continue to learn all you can and you will succeed.

@Myles Wisdom 

I think without a doubt a person's fear is their greatest enemy when it comes to investing. This is why most REI never get started. It is the analysis paralysis mentality. They become so afraid of making a mistake or of losing money that they never pull the trigger. This can be the case with not just real estate investing, but also investing in the market. The fear of a crash in either sector also prevents most from doing anything.

I would also say on the other end of the spectrum, overconfidence could also be as big of an enemy as fear. Overconfidence leads to making poor decisions and not doing the due diligence necessary to make a wise decision. From what I have seen so far is that the overconfident investors get themselves into trouble in many cases while the grounded ones that are seasoned investors are less prone to that. 

@Jennifer Fernéz 

To add my $.02 to what everyone else has said, I would recommend that you research all the areas of investing and see what is right for you. Once you do that then focus on studying up as much as possible in that area. There are so many great resources on here and people who are successful in every area of REI that you can seek out once you find out what you want to do. The key is what your long term goal is. If it is steady income then buy and hold might be the best way long term. If it is a lot of money quickly, then maybe it is flipping. Wholesaling is also a route to go if you want to make money with little invested and less risk, it really is up to you though. Best of luck on whatever it is that you choose to do.

I know I am late to this discussion but wanted to offer my $.02 (for what it might be worth). From what I can tell is that the bad "gurus" tend to consistently try to upsell you while providing very little in return. Now a teacher or mentor might charge for their knowledge which is completely acceptable and a good one should seek some sort of profit from a deal (like a percentage from a flip or a percentage of cash flow for a certain amount of time from a buy and hold). But since there is a financial gain in it, it would be in their best interest to help the new investor succeed. A guru tends to hop from city to city trying to sell as much of their product as possible, much like the old school travelling medicine salesman.

I think the biggest reason why people fall prey to gurus is due to lack of knowledge. Many like myself stumbled upon this website. There are still so many out there who have no clue about it nor do they know where to turn so the desperately seek something. They might see books that you can buy much like they do a guru, except the guru offers the most important word necessary to open their pocketbook and that is Mentor. Since they don't know any better they go for it. Sadly these gurus don't provide the mentorship in most cases people need. To me this is why it is so critical to spread the word as much as possible about this website (which is what I do) as it is invaluable in helping people succeed without wasting money on pointless programs that do not work. Again just my $.02.

Thanks to everyone for the responses. They have been passed on. Hopefully it all works out. Kenneth, that makes sense and waiting would be their best option. Now if someone is on a month to month lease how much of a notice would be needed to not renew the lease? Is it 30 days or would this be something that varies by state? 

@James Wise , @Michele Fischer , @Account Closed , @Marcia Maynard , @Kenneth Huddleston 

 Thank you for the advice. I will pass this on to them. What you are saying does sound reasonable. Now with the current tenants being on a month to month lease currently does the owner have the right to not continue this practice based off of this incident? I could see that becoming a sticky situation and I am not sure if they can legally not rent to someone who pays their rent on time because of a disagreement such as this. Now having the tenant pay to put up and remove the fence when they leave makes perfect sense, I am not sure if it is worth it anymore if the owner could just not allow them to renew their lease on a month to month basis. 

Hopefully I post this in the right spot, but I have a couple of questions. Basically the story is I have a friend who is having issues with the renters in her house in Georgia and I was wondering what rights she has when dealing with them. Basically the renters are demanding that she put up a privacy fence because they have a son with autism and it is necessary according to them. Now this was not apparently an issue when she first rented out the house to this family. The owners refused due to cost and the fact that they do not want a fence on their property. The renters then went and got an estimate, which again the owners refused. The owners then found out that it was going to be a chain link fence that the renters wanted to put up and this was not allowed either by the HOA. Now the renters are looking to sue the owners (our friends) due to discrimination because their son has autism. Granted they signed a year lease before and there were no issues during that year. Now the renters are on a month to month lease and the issues are now arising.

My questions are, one would the renters have any case in court, and two would the owners have any rights in evicting them after giving a 30 day notice? These are concerns for them and myself as I am about to start buy and hold investing once I get to Tennessee. I appreciate any help from those with more knowledge in this area than myself.

Brandon,

Although I am about to leave the NOCO area for Tennessee for about four or so years, I would recommend that you look into ICOR which is out of Fort Ciollins if you are looking to network. Fort Collins is a great market right now and is absolutely booming as is Loveland. PM me if you have any questions about it. 

Welcome to BP Jatin. I am about to move out to Clarksville, Tn which is not too far from Nashville. I share similar investment philosophies as you. What is it exactly that is keeping you from pulling the trigger? I would love to meet up with you within the next couple of months if you would like and discuss things. Just let me know.

Tim

I would say that it is about the money for the most part. How many would do this if they knew they would take a financial hit for it every month with no hope of any gain? Now the reasons for making money might be different i.e. freedom, helping others etc.....Some would continue to do it even if they won the lottery because they enjoy it but when it is all said and done money is the biggest driving force for why people do this.