All Forum Posts by: Alex Franks

Originally posted by @Quito Keutla:

My goals for 2019 is to acquire a multifamily that can generate a passive income of $5,000 per month.

Grow our new papaya sauce company online to $5,000 in income per month

Generate two plus wholesale deals per month making at least $40k+ per deal

Take my family on at least 3 vacations

Staying fit and competing in my first martial arts sparring competition 

Continue eating healthy and clean

Don't be discouraged. Most of my partners are international folks. Zoom calls most morning. If you are looking in the states. Please contact @Marisa R. from Australia She has been very successful in the states. Should you ever come to Charlotte. Take some time to  Read a lot of my older post on the different areas and what's going on here locally in Charlotte 

Feel free to ask away

Alex


Originally posted by @Sydney Tiffany:

I suppose I should start out with the current situation that I am in.. Presently, I am living abroad in Victoria, Australia. I have been away for almost a year but will be moving back to Charlotte, North Carolina as of February 2019. I have been infatuated with the idea of investing in real estate for quite some time but never prioritized it or pursued in a way that it would actually come to fruition up until about 7 or 8 months go. Since then I have been educating myself non stop, everyday working on something in order to increase my knowledge of methods on how to invest as a newbie, learning a basic vocabulary, analyzing deals, ect. I still am 3 months away from being back in the states and I am starting to feel a bit discouraged. I want to make advances towards building relationships but I feel that being in a country so far away is really limiting me. I am unable to make phone calls or to meet up with those who I am speaking with. I also don't want to be seen as wasting others time. Is it stupid to get in contact with real estate agents/ wholesalers/ banks/ ect. when Im not even living in the country presently? Also, should I go ahead and get preapproved for a loan? Part of me feels that maybe I am getting ahead of myself to quickly while another part of me is so eager to get the ball rolling toward my future. Does anyone have any ideas of what they believe is imperative to learn first, opposed to what I have been doing? I would be happy to explain more if it helps to answer questions. 

I have multiple partners for multiple projects. Most of the time it's 50/50 there funds my boots on the ground and running things. Some deals we split the capital into small apartments. His cash to buy, my cash to rehab. A lot goes into to partnerships but get it all in writing. 

Alex

Originally posted by @Joshua Gutierrez:

Good morning,

I hope everyone is doing great and progressing in their real estate endeavors. I am brand new to the real estate industry and recently attained my license this past September. My goal is to obtain multifamily rentals for cash flow while fixing and flipping houses for active income. I have been a bit overwhelmed the past couple of weeks with the information I have been reading in learning about all the different strategies to be able to help people while making money in the real estate industry. A good friend of mine, a successful real estate investor, sensed my frustration and set up a meeting with me yesterday. We talked about partnering on a minimum of 5 fix and flips. We talked about him handling the acquisition side of  it and we would use my money and his lending connections to fund the deals. I am also going to play the role of Project Manager for each of the deals to learn the rehab side of things, with his assistance of course. After all said and done we would split the profit 50/50 so he would make money and I would make money while learning how to set up a system to be able to branch off and do this on my own. My question to you all is are there specific questions I should be asking? He will not be using any of his own money and I will not be giving him any of my money. My money would be going straight towards the deal throughout the whole process. I see it as a blessing to be able to have someone willing to teach me like this, however, I want to be sure my excitement is not causing me to be blind in any specific areas of this partnership. Thank you all in advance for your input. Hope you have a great Thursday!

Josh 

My friend, I don't see a deal here I see a money pit that can get you in trouble. Instead, I would google meet up .com and do 30-mile radius of your house. Find some local groups and attend. Sit back and listen and see what local folks are doing. Even share the deal and get feed back. I always appreciated this business in that. When folks see someone is willing to bust their butt. They are willing to help out and point you in the right direction. So I am glad you took the time to introduce your self ( welcome ) and a great place to ask away.

Alex

Originally posted by @Lorenzo Spurrier:

Hi, My name is Lorenzo. I'm new to Biggerpockets.  I haven't done a "new member introduction", but a brief summary of myself:

I'm 25, have been in the construction field since I graduated high school.  I am from the Metro Detroit area.  I'm a licensed builder in Michigan, also a licensed Realtor. Since I graduated, i have been saving as much money as possible to be able to start my own company.  I finally did and now I'm looking for funding my first "fix and flip" project.

I have done quite a bit of research from reading articles, to visiting seminars, to watching YouTube videos, to reading books all about the general knowledge needed to invest in real estate.  I feel like I have enough knowledge to go forth and begin my journey.  

I have a subject property with a motivated seller. I have estimated the house needs about $75,000 worth of work. $20,000 is foundation repair. The house is listed for $120,000. (I have done CMA's, and they have shown that houses in a .5 mile radius that have been updated sell for around $150,000-$170,000.) I have told the selling agent over the phone that there is no way I can purchase the property for even close to that price. She insists on receiving an offer...So here we are.

I have reached out to quite a few HML's online...Patch of Land, DoHardMoney, FundThatFlip; to name a few.

I'm NOT asking for reviews on these companies.  I've done plenty of searching online for reviews on them.  I'm generally looking for whether or not companies like the ones of listed are suited for a new investor with NO experience in fix and flips? Should I be looking for companies local to the Metro Detroit area that I can meet with personally? (Can't find too many online) or are these types of companies good to use? (ones I've listed)

I'm looking for constructive feedback and any suggestions the community has to offer.  All replies are much appreciated.  Thank you

Please send details and age of the homes


Here in Rock Hill SC My self


Alex

Originally posted by @Graham Howell:

56 home SFH portfolio available in Newberry, SC.

$33,380 gross monthly rent

$237,000 NET annual income

over 16% Cap Rate

Samsung investing over $400 Million in this town and creating 1,000-2,000 jobs over the next few years. 

@mathew Perry 

The first goal is always health and fitness. I have had 7 knee surgeries but  I want to hit a full marathon. Second would expand the new construction side of things. Third most important is to help my wife. Who will be running for Chief or Assistant chief of her tribe? 4th to spend more time with family especially my parents. 5th Expand my garden and make it more functional. 5th to expand on my wife's non-profit kids running program or the kid's programs here on the reservation. 6th would be to add 5 more free and clear rentals. It's funny the older I get the simpler the goals become.

Alex

Originally posted by @Matthew Perry:

I am curious what people are thinking about for goals for 2019- are they financial? are they personal growth focused? are they multi-leveled? What are you doing to meet these goals to hold yourself accountable? How are you or do you keep track? 

Originally posted by @Brian Charles:

Hey all,

I’m Brian, a new investor from NYC. I originally found bigger pockets years ago. I scoured these forums for months, listened to dozens of the BP podcasts, but unfortunately (fortunately?) life picked up shortly thereafter which pulled me away.

Since then I’ve been working in tech in NYC (IIoT / predictive mechanical diagnostics), and have recently decided to step back up to this challenge.

I love NY, but don't see it as a realistic jump off point for my REI ventures. My goal is to continue learning about OOS buy and hold rental investing, ideally, utilizing BRRR to help accelerate growth. I recently finished David Greene's "Long-Distance Real Estate Investing" which has brought a lot of confidence in where to go from here. My near-term goal is to acquire my first property before the end of the year.

Looking forward to becoming more involved on the forums. Please feel free to reach out if you’d like to connect in NYC or remotely. 

Yes @Gino Barbaro Is great person and great group to Join. When I jumped off social media spent a lot of time with his and active in his group.  Gino was the one to help me make the jump.

@Gino Barbaro garden still doing great. Lets Catch up some time.


Alex


Originally posted by @Dan Handford