All Forum Posts by: Bert Beattie

This is probably a somewhat dead topic but if not I will throw in. First off I did pay the 25k and could not be happier with what I received. However that is ME not others. The "Real Estate Education Through Osmosis" mentality, where by you attend local REIA's and find a mentor etc is about the same as the "Wholesale,FLIP Etc with NO MONEY" idea in that it is definietely possible and there are probably several people that have done it but the reality for the rest of us is it ain't gonna happen.

I signed up and gladly paid because like a few of you said it is a legit program, very legit infact.  But I would be lying if I told you it was cost affordable because for most people it isnt.  It also isnt a get rich scheme which I am sure that you got from the 3 day Keri. I did it because I, A: had the money to spend on the program and money to start an effective business without leveraging credit etc.  That part is what it is.  Everyone does it and well can you all say that there hasnt been a time in the past you have tried to get creative to make a deal go down?  But the main reason I did it was, I spent my entire life in athletics through the minors and then as a Chef but the whole time I was in and around Real Estate.  My whole Family was involved from Agency Owners, Agents, Brokers and the like and well through all that I gained just enough experience to be an idiotic owner and a worse landlord.  The program gave me a channel to all the possible information I could ever want and the connections to do something with it.

Would I do it again.  Damn right.  I try and dedicate about 20k a year in education because you can never stop learning.  But again That is ME.  You have to answer that for yourself but I will say the best advice I saw on this thread was J.Scott's.  If you can take the money that you would spend and find a deal to work, then use a qualified person to assist ( I think J offered) that is the best way to learn.  Good luck to anyone that decides to further their knowledge on Real Estate in whatever way suits them best and if anyone reading this would like to have a real discussion about what Mastery is and whether its worth it send me a message I would be happy to help in any way that I can.

Hey all,

Quick question. We have been working a few short sales for a while and a couple are coming to fruition. We are about to receive the approval letter on both and I had a funding question. I have JVed a couple of deals but have not been involved in the actual signing of the paperwork at the end. With both deals coming we are in a position to personally fund one and us a HML for the other. I am a little concerned that we have represented ourselves as a cash buy when in fact on the one that we now have to use a HML it will be viewed as financed, is that correct? If so what do I need to do to make sure I am not breaking any laws? Or is it simply a matter of a simple switch. They are both short sales and 1 is a Fannie Mae and the other is not.

Thanks

Bert

Hey everyone I wanted to ask everyone out there how keeping a property as a buy and hold changes the amount you are buying it for? I understand that buying a property as a B&H changes the arv in the type of rehab we would do but how does it specifically effect out offer price?

Also not a REIA but amazing RE group meets in Ricklin 1 time a month. SACRESN. You can find them on meetup

@Mike@Dennis Contractor? With all the over bidding the only way to stay competitive is to grab a hammer. ..

Good to have you on BP @Andrew Stroud. I am up in the Sacramento Area. I am looking at a few properties this morning/afternoon in Lodi, Galt and Lathrop. If you ever need anything don't hesitate to ask!

Hey Welcome to BP!

Probably not really adding anything shockingly new here and I don't have anywhere near the experience that @Dennis Lanni has, who by the way helped me out in the beginning with some questions I had. But I think that if you are looking at mid level properties then a ppsf of $50 leaves you pretty safe for Sacramento. If you look at $50 psf for 1600 sf, that is $80k for rehab/hold costs which on a $250k home means that if the rehab brought the ARV to say $300k you would need to get the house at around $110500 to be at a dollar in dollar out profit margin. 50% would be a purchase price of about $150k. So again $50psf is probably a safe way to look at it. But just as your initial walk through. Anything more substantial or further along in the buysing process would require the extra work Dennis is talking about

Anyway good luck man and don't hesitate to ask if you have any questions.

Jeff,

This one is always a tough one. Popular topic to post about as well. I will start by saying that I am a Fortune Builders Mastery student for full disclosure. I can honestly say that while I could have got a lot of the information and education I have received on my own, I don't feel it would have been as comprehensive and as action oriented as what I got. Being a mastery student, for me, has been amazing. Everything from the contacts and networking, to the nuts and bolts training I purchased. That being said I am sure that there are others that would have an opposing opinion about what FB offers.

I think that in the end it is entirely on your shoulders. The information out there is readily available to anyone willing to put in the time and effort. BP is a testament to the fact that you don't need to spend thousands to achieve your goals. By allying yourself with the right people and learning as much as you can, you can receive just as good a RE education as the most reputable "guru" out there is offering.

But the opposite criticism is true as well. There are a plethora of really bad and underhanded people out there trying to take your money. But there are some really good people out there too. People that do charge for their services and its worth every penny. To blindly say that to go to a guru is wrong, or stupid, or a waste of money is just as bad as heading to the back table at a seminar without really knowing what you are doing. Its like the novice line cook who is wondering if Culinary school is for them. 1/2 the people say "you HAVE to go to make it" while the other half say "don't waste your money on something you can learn in the field." Who is right? Who is wrong? Its a case by case situation in my opinion. Like they say you get out of it what you put into it. That goes for every inch of the RE field. Do your homework first. Research and ask questions. Get on BP and ask several of the people their experiences. Then make the best decision for you. Hope that answered your query Jeff.

B

@John Drumm

Welcome to bigger pockets man! Great to have you on here. Like Julie said there are a few different groups that meet regularly here in Sacramento and a bunch of really good people here on BP that you can connect with. If you have any questions don't hesitate to ask!

Good to have another RE professional that is taking it serious, well done! I have been doing virtually the same process as you in terms of sifting through cases and researching. I can tell you that it definitely produces more "qualified" leads. But nothing beats the numbers game. If you would like to collaborate a bit I can point you in a good direction as far as increasing that number from 25 to around 75-100. Send me a message and we can chat.

On another note there are some awesome RE professionals here in the Sacramento area, like @Dennis Lanni for example that really are wired into not only the local market but in the ins and outs of the business. Take every opportunity to spend time with them and learn as much as you can. As someone that was new not long ago myself, I am happy to help you with any questions or challenges you run into!