All Forum Posts by: Wil Reichard

@Matt K. I didn't say he should quit school and stay at his 8/he job. I'm saying I quit and it's working well for me. I will not disclose the amount I make, or boast in any way, but I do quite well for myself and I believe leaving college helped that. I'm not saying that's what I recommend for anyone who asks if they should drop out. I'm saying this is what I did and I have no regrets so far.

@Matt K. Sure Matt.

So the reason I did not finish (I had about 8 classes under my belt), is because the time and money it costs to go through college did not out weigh what kind of live and career I was taking. When people ask to a recommendation for a realtor, they don't follow up and ask what degree they have. Same goes for MANY jobs. I'm doing very well right now. $1,000 away from being debt free from college and have moved up in my career. I will not look back at that decision.

@JD Martin harsh words to say the least. But I appreciate your honestly and you make a VERY good point. I won't truly know until 20-30 years from now. Thank you for flipping the coin and helping to see the other side, or at least from another perspective. 

@Shray Patel, I am 20 years and dropped out this year to follow RE. DM me if you'd like to pick my brain. I believe I made an excellent choice.

I had a friend who was investing in his third property and used family to barrow money. Deal fell through, no one bought his flip and they were not able to recoup the money for several months after they expected. It pulled on the relationships and caused stress when it wasn't needed. He started thinking from his emotions rather than his brain.

Personally I do not think barrowing from friends and family is very safe. It can turn south real quick. There are a couple of nationwide lenders that work specifically with investors. If you would like references I've got a good one.

Can you still rent it out without fixing up the basement and have that closed off for now? If you can, I would BRRRR another property, and use the cash flow from that to save up on the renovating costs for the basement. Of course I do not know if you can even rent it out while cash flowing without renovating the basement.

Had a lady try to sell me a house for 35k and she told me over the phone she's a contractor and that this house will need 5k grand, no more to rehab. I drove by and the roof was caving in and the floor was sagging all over.

Pass

Welcome! Never hesitate to ask any questions here.

Welcome to BP! Always feel free to ask questions here.

Here's how Stephen Mitchell (wrote "1,000 houses. Failing my way towards financial freedom") did it. He put a sign in the front of the house that states "House for sale" which included his number. Leave a small question mark so no one can get too mad or upset.

This is a last resort haha

You can try your county website. Search who pays the taxes on the property. Good luck