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Updated over 4 years ago, 08/19/2020
Does the BP program work
I'm 60, son 25. We have 70K to get started.
Both smart. willing to work hard. I have my own business. Son works as a salesmen. Can we make a million in 5 years?
@Gregg Powell can it be done? Absolutely! Is this a typical result? NO. The sad reality is most people who try real estate never get past a deal or two. Most never even do a single investment deal.
If you do go for it we are here to help. Not quite exactly sure how to find it but there is a "Meet the Member" video of a new investor here that acquired 30-40 units in a year and a half. There is probably a link here somewhere but I searched You Tube to find it.
They were produced by Member @Alexander Felice he may chime in and give a link.
The podcasts, blogs and forum posts here have many success stories.
So are you saying it does not work or that you need to do more than 1 or 2 deals
I'm not really sure what you mean when you say "BP program"? There are quite a few investors that post and respond on Bigger Pockets and each will adapt strategies based on their goals and abilities.
@Ned Carey is correct... can it be done? Absolutely!
How many people actually get past researching strategies to execution? Well, there is probably a correlation to sports... a lot more people in the stands watching than on the field playing the game.
Most of the "Stories" are about young people that live in a shoe box and made millions. Are there any "Case studies" om a 60 year old getting started?
Originally posted by @Gregg Powell:
So are you saying it does not work or that you need to do more than 1 or 2 deals
Greg if you are referring to my post then yes it can work. I am also saying it would take more than two deals.
@Gregg Powell yes I bet somewhere here there is a story or many stories about older people who did this successfully. But age is not important. Taking action consistently over a period of time is what matters.
You have a big advantage over younger people. You have more life experience. You are starting with a decent sum of money. Many new investors are starting with no or very little money.
For the record I am almost 63. I had to start all over again after loosing it all in the crash in my early 50s.
Wow, what kind of deal did you do first?
@Ned Carey
I feel ya, I’m 55. We all bring something to the table in this game, and there’s room for everyone.
Best of luck to you both in your REI journey!
@Gregg Powell my first deal I bought a property at auction. That is a quick easy way if you don't like negotiating or dealing with people. But there are lots of ways to find deals. Keep reading listening and watching here to learn more.
Maybe someday soon BP will be telling your story on a podcast or video.