All Forum Posts by: Trent Chance

@Jeff Cagle

Jeff you getting a little jealous or what's really going on here?

Did you lose a bet on a shady businessman and project it on to Mike?

I've personally been apart of and witnessed him PROVIDE the capital to help a newer investor do a deal. I've even seen him provide the deal and commission.

Does he raise money also? Of course he does. All his articles tell us that we should be as well.

If he's trying to be sneaky he ain't very sneaky!

GL with your anger.

@Jake Thornton love it :) @Michael Ealy taught me to only do a deal if it cash flows under less than ideal scenarios that way you can ride out the storm through tough markets when others lose their shirt.

@Jake Thornton agreed and love the spreadsheet. Only thing I'll chime in is $500 cashflow on a $50k property even after refinancing maximum allowed doesn't seem realistic. I'd say run the numbers with $250 in cashflow. Plus, vacancy rate, plus damages, etc and see if it still wins. I assume it still wins counting all the wealth generators and the ability to scale to a greater degree than a single stock buy.

@John Matthew Johnston no people just get offended if you want someone to make their kids behave 😅

@Joe Splitrock exactly

@Frank Geiger I agree with this.

I also disagree with everyone saying the word "scammy" repeatedly 😅

Potential tenants are offering something extra to secure the property. I've done this in the past as a buyer/renter. It doesn't make the seller/landlord a scam artist because of demand.

But to be safe I agree with Frank. Just raise to $2k in a year. Also, maybe wait until you have 5-6 qualified applicants to make your choice. Maybe one will be a very clear option.

@Micah Carter FHA all the way.

I'm approved for a new construction triplex with FHA right now.

$16k down / $450k build.

@Canesha Edwards I'd still take an acquisition fee if I were you. I think it's standard and shouldn't affect your equity.

Maybe see if @Michael Ealy has any ideas for you to find a partner or on structure

@Jeff C. like I mentioned I understand this.  But online marketing 101 is to provide up front value for free.  Some of these posts provide none.  Others provide remarkable value that can be used independently for anyone who knows how to read or google.

I've attended seminars from post like these that were mutually beneficial.  No credit cards, no $20k binders, no up selling courses, just networking building and closing deals and both parties learning and profiting.

I've also seen victims of the "Now I have a $20,000 binder in my drawer" seminars as well.  Those things will always exist and people will have to do their own research and protect themselves accordingly.  But I love free tips on growth and I love true stories of success.

@Natalie Kolodij I get this and expected this response.

I guess what I'm getting at is I know at least one of the members being alluded too here and they are genuine and their free advice has helped me jumpstart a life that will alter my wife and I's entire future.

And I've continued to get advice even after stating that I will not be investing in others' deals because my money is tied up in my own.

Often times passion for industry, passion for teaching and passion for succeeding aren't exclusive from each other and easily separable. I know cause my mind works in a similar fashion.

I'm a major skeptic and analytical but if something is 25% promotion by nature and 75% inspiring that's pretty typical and something I'm thankful for when it comes from a genuine heart ❤️