All Forum Posts by: Andrew Freed

@Account Closed Solid facts. Thanks for the info Mike and congrats on your past success! 

@Account Closed- Interesting insight. In the scheme of things, the numbers are minuet. If you extrapolate that out to the normal population, that amounts to a couple hundred foreclosures depending on the area. Nonetheless super smart to keep an eye on the trend. If you see constant uptick, please post more content.

Just curious, what if the trend does continue? What strategies are you utilizing to take advantage of this foreclosure opportunity? Seller finance? Off market lead searching? Wholesaling? REOs?

@Lucas Gibson - To truly be a successful investor, you need to cultivate the right mindset and be a constant learner. Most people live in fear, forced to work a 9 to 5 to maintain their standard of life. Fearful of being late, getting reprimanded at their job and losing their source of sustenance. You run into the same situation with "wanna be" investors. They love the idea of real estate investing but are paralyzed by the fear of making mistakes, losing money, the unknown. I personally lived in the state of fear for 7 years while I worked a W2 and finally had enough.

You need to be willing to take massive action and become a better version of yourself every day. Read, network, save, and work every day to becoming the person you envision you can be. Success will follow. 

@Matt Orchulli The added benefit of working with a local lawyer is you also get to build a relationship with legal council. In regards to being a real estate investor, its all about your team and network. If you can leverage the knowledge of someone on your team to get you quick and solid advice, your ability to scale would be limitless. 

@Jaron Walling - I am sure you already explored this option but if you want access to the equity without selling cash flowing properties, it might be more beneficial to open up a HELOC or a RELOC on those properties for your future purchasing endeavors. With interest rates at an all time low, even if the loan rate is variable, you aren't going to find better loan terms out there other than a conventional 30 year investment loan. You can also utilize these lines of credit for your down payment on the properties keeping your exposure to the variable rate as low as possible. At the end of the day, if a property is providing decent cash flow, who cares what the sales price is. Assets are assets as long as they are making you money day in and out.

@Mike Buckley Thanks for the insight Mike! 

@Patrick Marks - Good advice. I was looking in Fall River too but I came to the same conclusion you did. It is a great cash flowing market but you do give up short term appreciation likelihood. I ended up investing in Worcester in the short term.

Regarding Fall River, have any advice on some of the nice areas / neighborhoods of the city? I am definitely considering this market again cause it is just so damn affordable. :)

@Megan Wakefield - Great “why”. My why to achieve financial freedom through real estate is to gain control of my time and spend it where I truly value life. Just like many people here, I would like to travel the world and experience what this amazing thing we called life has to offer. I would also like to spend my time educating and helping my friends and family understand the importance of financial literacy and do what I can get them to their financial goals.

I currently work a W2 and do enjoy what I do but I simply want control of my time, my life, my existence and not give that control to any other person or organization. Real estate sparked this fire and I don’t see it being extinguished any time soon!

@Koob Moua

If she’s been there for three years, has been paying consistently and this is the largest of your issues, you should be thankful. As we all know, we lose money in tenant turnover.

To show sympathy as well as ensure an even longer term tenancy, it might make sense to eat the repair and show her you truly value her business.

It’s a small charge of $250 but if this is the deciding factor for her to find a new place, is it really worth it when it costs a thousand / a couple thousand to turnover? In the long run, if she’s been a good paying consistent low maintenance tenant, eat the charge and thank her for being a valued customer.

@Jerryll Noorden - Good advice! That's definitely a boss play. I guess it all depends on peoples goals, but I truly respect the hustle. I also agree that investing in your local market is key to gaining real life knowledge more quickly and allows you to have more control over your investments.