All Forum Posts by: Ty Ottaberry

So I finally have my down payment for my 1st rental property and I'm scouring the market to find a good deal in a good location that will produce a positive cash flow . I have the knowledge to control the property once it is in my position. But I'm a bit Rusty when it comes to controlling the deal upon purchasing the property from the seller as far as the paperwork and all of the contracts that are needed to close the deal like a pro .the paperwork is pritty much your inventory in an investment property, it's pretty dang important. Of course I can wing it and learn from my mistakes and I'm not afraid to do that ,but why do that when I can seek a bit of advice and gain some knowledge from a seasoned investor that has been through the process multiple times . I could honestly care less if I look like an amateur to the seller at closing, mostly because I am when it comes to the experience, I'm not afraid to stumble into an unknown situation especially if I have the knowledge to keep me from falling . Should I open a LLC prior to purchasing the property . if you guys know of a web link that I can read up on about this that would be great

thanks man

@Damaso Bautista

yes it most definitely is a struggle and grind but as you already know ,it becomes the new normal after doing it day in day out. reading rich dad poor dad was the best turn I have ever made . my friends and family are not sure what to thing  lol I went from have big lifted trucks and toy and of course big high payments to go with them all. to a small payed off car .  the toughest part in my opinion is finding the right crowed that understands. 

tell me a little bit more about this . 

well i never thought i would see the day that i sale my custom bowfishing mud boat .i built this boat all by my self and its one slick looking sucker . to be honest i think i have spent more time building and adding on to it than i have having fun on the damn thing lol . its crazy how a mindset can change with a little bit of knowledge ,well let me rephrase that " AAAAlot of knowledge " .   time to put it all to work ! sad to see the boat go but i look at it this way, its a one way ticket to the fast track. Im about to turn this liability in to a asset and keep rolling on ........

@Frank Patalano

I searched day and night trying to find a solution to come up with the down payment on the deals that I find. It gets pretty stressful at times but on wont stop until I land my 1st rental property. Iv never wanted something so bad in my life

sorry I spelled rich wrong at the top lol not sure how to change it

My Journey started on the truly wright path 1 year ago...... I ended up stumbling across Rich Dad Poor Dad summary video on "YT-University". long story sort... after reading.... My life cHanGeD TREMEEEENDOUSSSLYYyyy at the flip of a switch💡, because I was no longer struggling to find the answers on how to be a wealthy minded person,how to get ritch,the most important thing how to achieve freedom and tax free wealth!! I CRACKED THE CODE!!!!!. Instantly and I took actions and got rid of all my Greedy liabilities that did not need, like my brand new GMC $700 a month beautiful metallic dark green 7" inch lifted truck ,fyi that was a tough one to let go 😂 but Life doesn't always talk to you it just sort of pushes you around and with each push is life saying WAKE UP!!!..... So I woke up and Cursed myself with knowledge . Before I go any further, You might be wondering why i sayed i 'Cursed' my self.   Well, because once you REALLY Understand the True Power Of Knowledge and break the brainwashed spell that Society has casts upon the middle class in our younger days , once you see the world for what it truly is, NOTHING IS EVER THE SAME again .  it's not easy controlling this power at first. Laugh if you must but it's true. Especially when you don't know 1 single person that has this mindset that you now possess. when everyone you know chases paychecks like a donkey with a carrot held over their head Trading & selling there time to the highest bidder just to maintain they're good appearance and keep up with the Joneses. it's not easy finding someone that you can truly talk to without offending them. But it's just all part of the shifting. Your truly beginning to understand the value of your voice, and there are just some situations that no longer deserve your time. When you once remained quiet to listen to advice, you now speak your truth to give the advice. You better believe that all of your working-class friends that you grew up with are going to have some questions like ," why don't you come around to the partys anymore man?we never see you! .what happened to all your cool lifted stuff ? We have a good paying job opening if you need it".

  My answer was..."well, I've never been better in my life, I cracked the code guys !,I learned how to get rich". They look at you like you're cRaZy lol. because the first thing that pops in their head is "You damn sure dont look ritch! Wheres all the money" . I said  guys, I can explain everything if you're willing to listen, you just have to think outside of the box and have an open mind otherwise I will be wasting my breath...... "they said, maaan we have been working on this high all day ,referring to their weed pipe.... I said yeah, it can be quite the buzzkill. And the conversation ended there.

Making that change was the best thing that ever happened to me .I continued my journey today never comparing myself to others  or looking back in the past to dwell . I become more bold as the days pass. my team is coming together slowly as I follow the ancient guided path to wealth, consuming more knowledge every day. I have made problem solving a habit and love every minute of it , staying focused on the solution rather than the problem. I've always been the type of person that listens more than I talk and it has worked out great for me. My parents raised me to respect and listen to my elders , but what I learned in life is that people will take advantage of that kindness and try pushing you around. Nowadays I take orders from no one, I have a mind of my own. I only respect those who respect me back . Age is never a factor when it comes to respecting someone , after all age was only created by man to keep track of time . Wisdom does not come to you based on how old you are , wisdom comes from understanding the truth and the reality in life and Knowledge is based on understanding how to solve a problem. I'm writing this because I'm glad I finally found a place where I can share my mind with other like-minded people right here on BiggerPockets .Thanks guys

I'm running across tons of homes on dead-end roads . I wanted to get a couple of opinions on what your thoughts are about owning rental property on a dead-end road with no Outlet . A lot of tenants might like the Privacy I would think . But I feel it would drive up the risk a bit for vacancy since there wouldn't be much drive through traffic. But honestly most people are finding property to rent online nowadays . FYI I am talking about dead-end roads in town in good neighborhoods with low crime , not way out in The Boondocks or in the ghetto lol