All Forum Posts by: Account Closed

I have several printers, so I don't use my All-In-One as my main printer, but I have a HP 6100 series and am happy with it.

Maybe I am lucky or maybe I am good, but I have a stable of cashflow properties. I am finding more every week.

I agree, local REI Clubs that have people that are ACTUALLY Investing will be useful resources. There are several clubs out there where the focus is on selling you products, services, etc.

I guess it is just like TV, some channels are good for you and some just have infomercials. ha.

You need to pick 1 or 2 things and be the BEST at it. The Go To Person if you will. You should know enough about other areas to aid you in your endeavors, but focus on the 1 or 2.

You don't see Plastic Surgeons doing heart bypass surgery. They know the basics about surgery and its risks, but would refer you to a cardiologist for that stuff.

You should do the same.

Ok, for my 100th Post, I will just give you 1 quick nugget. Just one little item.

If a property is already cashflowing, seems to me like a great chance it will for you.

So you need to find landlords that don't want to be landlords anymore. So how about at Eviction Court? So when someone is frustrated at evicting a tenant, they might be interested in selling.

Start thinking about a landlord, what things do they need? where do they have to go? That is where you need to market.

I am sorry to hear that. This goes back to my constant statement.

You make your money when you BUY. You get it when you refinance or sell.

So, you can not invest based on future appreciation. Appreciation should be treated as a nice bonus. Why? because general cost of living goes up each year, so appreciation might just cover that.

In short, I am sorry for your situation, but do the best you can to sell the place, use this is a lesson learned. There are many roads to safely make money with investing. I just hope you really see what mistakes you have made, brush yourself off, but get back on that horse, just this time with more knowledge.

Actually, sometimes when I flip I will take back seller financing, so my profit is realized over years. Of course I get a much higher return that way.

But then again sometimes, I will sell my note after a few payments. (Guess it is just because I am in love with seller financing these days with the Sub Prime market collapsing)

Devon.. Welcome to BiggerPockets.

Yes this site is a tremendous resource. Soon you will be the one giving advice!

We use quickbooks as well. I know there are a few people out there that have custom developed some "plug-ins" for quickbooks that are geared towards REI.

I want to say that one is John Hyre and the other is Mike Butler, but don't quote me on those names.

First let me state that it is awesome that you are starting at your age. Wish I had!

I agree 100% with Mike. Saying you want to be in Real Estate Investing is like saying you want to be a Doctor. There are so many areas, you have to pick one to specialize in, but you have a good understanding of some of the other areas.

With that being said, think about the last time you went to a neurosurgeon to fix a broken leg. So remember that when getting advice.

As to your credit. HUGE HUGE tool. You do need to work on your credit. Even when you set up your company and you initially apply for loans under your company name, they look at your own personally financial history. If you get unsecured biz lines, they don't make you guarantee it, but they look at your credit for approval until you can establish a credit rating in your company name.