All Forum Posts by: Vlad Ovchynnikov
Vlad Ovchynnikov has started 1 posts and replied 5 times.
Post: Looking for an accountability partner
- Potomac Falls, VA
- Posts 5
- Votes 1
Quote from @Don Konipol:
Quote from @Vlad Ovchynnikov:
I’m looking for an accountability partner or group.
I'm working toward building a notes investing business. I've read several books, listened to a gazillion podcasts, taken one of Tracy Z's classes, joined a REIA, spoken to several people in the space, and practiced underwriting offers on Paperstac. I have yet to pull the trigger and buy anything. My efforts feel somewhat haphazard, and I hope that an accountability partner or group can help bring more focus.
An ideal partner would be at approximately the same stage—slightly behind or slightly ahead—and willing to commit to ~30-minute weekly check-ins to review progress and set goals for the coming week. Bonus points if we have complementary strengths: I have a fairly analytical mind and some capital, but not a lot of hustle, and it takes me a while to overcome mental blocks when it comes to reaching out to people.
Looking forward to replies and/or DMs!
If a “business”, it takes a lot more knowledge, capital, experience and talent than successfully investing in notes. It’s not like there are an abundance of notes out there to be had at prices allowing buyers to purchase and be able to resell or flip to investors at higher prices. The successful note businesses learn how to WORK a note; identify unrecognized value; deal with near bankrupt borrowers, foreclosure, default, attorneys, services, governmental regulations, collateral deficiencies, capital demands, and negative “surprises”.
If you just want to invest your own cash in a note, it fairly easy and straightforward, as long as you can accept the RISK of a risk adjusted return.
Don,
Thank you for highlighting the distinction. Right now, the plan is to be more active than just buying and holding. I understand that it is not as easy as going to a place everyone knows about, buying low, and selling high at the same place. It is totally possible that I either don’t cross that threshold or find it too difficult/stressful/not worth the time and pivot back to just investing my own funds. But having a plan is better than having no plan, and for now, the plan is to run it as a business.
These words may come back to bite me, but regulations scare me least of all. There may be a lot of them, and they may be convoluted - but it is a set amount of formalized knowledge. Enough of it can be learned, and for the rest, there are (granted, expensive) professionals to lean on.
I do realize that there is risk. I can’t quantify the risk, and I hope that ability to quantify it comes with experience and a bigger/better network.
Post: Looking for an accountability partner
- Potomac Falls, VA
- Posts 5
- Votes 1
Quote from @Chris Seveney:
What types of notes you looking to do, performing , seller financed, non performing ? What is your pain point right now ?
The pain point is to get from "almost ready" to "I'm doing it".
Your first question is harder to answer, and I don't know if I can answer it at the moment. I plan to get 1-2 easy and safe trades - notes or partials - even if the interest is not very high, just to see the process work. From there - try to figure out where better opportunities are.
We interacted a bit in your FB group, you suggested nonperforming. I see your point, and may go that way - just not right out of the gate.
Post: Looking for an accountability partner
- Potomac Falls, VA
- Posts 5
- Votes 1
Quote from @Patrick Roberts:
Did you join Fred and Tracy's membership group, or just take one course?
Just one course through the REIA. Is the membership worth it?
Post: Looking for an accountability partner
- Potomac Falls, VA
- Posts 5
- Votes 1
I’m looking for an accountability partner or group.
I'm working toward building a notes investing business. I've read several books, listened to a gazillion podcasts, taken one of Tracy Z's classes, joined a REIA, spoken to several people in the space, and practiced underwriting offers on Paperstac. I have yet to pull the trigger and buy anything. My efforts feel somewhat haphazard, and I hope that an accountability partner or group can help bring more focus.
An ideal partner would be at approximately the same stage—slightly behind or slightly ahead—and willing to commit to ~30-minute weekly check-ins to review progress and set goals for the coming week. Bonus points if we have complementary strengths: I have a fairly analytical mind and some capital, but not a lot of hustle, and it takes me a while to overcome mental blocks when it comes to reaching out to people.
Looking forward to replies and/or DMs!
Post: The Most DANGEROUS Real Estate Investments for the “Amateur” Investor
- Potomac Falls, VA
- Posts 5
- Votes 1
Quote from @Chris Seveney:
Quote from @Don Konipol:
Here is my list of the most dangerous real estate related investments for the “non professional” investor lacking direct knowledge and experience in these investments
1. Tax liens
2. Mortgage notes
3. Syndicated real estate offerings
4. Distressed and or vacant Commercial property
5. Triple net lease property at the end of the lease period
what do you think?
1. Gator lending
2. Syndications
3. Tax Liens
4 Notes
5. Land investing
I went with these five as the first one takes very little money to get involved and its basically credit card / pawn shop lending.
Syndications I put second as most people read the cover brochure but never go through the entire document to understand what they are investing in. Meaning yep I know its a 20 unit building but they do not understand the structure of the investment.
I agree on notes and tax liens. Last I through in land investing. Most think oh buying a piece of land easy - but do not realize it may not have utilities, right of way, may be non conforming or swamp land..
Being very very amateur, and not even a RE investor yet... the point on jumping on the first syndication offer and not reading the entire packet is very well taken. Assuming that an amateur investor does the work of reading the fine print, reviews multiple deals as a matter of practice, asks for references, maybe joins a club to review deals together - do syndications remain at the top in terms of the risk? Which other more hands-off types investments are suitable for beginners?