All Forum Posts by: Alexander Ball

Hi Abdul That seems right. Subtle nuance here may be if you can't find deals like this regularly and you have periods of inactivity, you may get more out of holding for longer. Good luck.

I too would opt for the HELOC. It is more flexible and doesn't have fees associated with it like refinancing does. The caveat is that you may find refinancing saves you money with a new interest rate.

Hi Jim,

I met @Scott Matthew C. at the local Real Estate investing club (which I could sadly not attend yesterday because I am in the process of selling my home).  He has been helpful, quick to reply, and professional.  If he can't help you, I am sure he could point you in the right direction.

I don't have a lot of money, and so my little house will probably not generate a large commission, but he treats me like I'm selling off a 100 household rental portfolio.  He's a good guy.

If he doesn't catch this on BP and reach out to you, let me know and I will send you his contact information and prep you with an introduction.

Hi Ed,

Its very noble that your intentions are to somehow give back to this community when you are more knowledgeable.  But you don't have to wait!  Just be an honest, fair, respectable landlord and you can give back to your community.  And THEN help us.

I'm looking for my first deal, too, and in the same area.  I think you may have a hard time finding a stranger to tell you about a property that is not listed but is for sale.  From my very little experience, I've learned that this buisness, like many, is all about relationships.  If you're looking for those "pocket listings" the best place to start is with cultivating a relationship with a local realtor.  They are the ones that have sold and bought property for investors, and will know about soon-to-be-listed properties that can help you out.

You have cash and good credit, thats great!  Many investors have to be more creative to get into a home and if you can close faster because of cash, or offer better terms to a owner financier (ie, bigger down payment, deferred move out time, whatever) you'll have a leg up.

And you can develop your own buisnesses web presence when its time!

Keri gives you good advice.  I got into communication with someone by doing what she suggests.  Do a little searching for how to "drive-for-dollars" its (almost) free marketing.

Good luck Ed.  Let me know if I can help you out in the future, or if you'd like to bounce any ideas off of me.  I'm not a pro, by any means, but talking things out loud can make a big difference.

See you out there!

Very nice score! A lesser man or woman would have gave up before you had success. Now you have a deal under your belt and your success will make the next one easier.

@Sarah Lorenz @Zech Stimson

I, too, would love to hear more about your conversations you have with your professors and other faculty. 

Hi @Stavros

If you'd like to meet up sometime, I'd be happy to. I am on a similar path as you. Selling my primary residence to free up by DTI and liquidate my equity so I am ready to jump on any opportunity that comes my way. Renting in the meantime. Perhaps we can help each other out in some way.

Good luck, and congratulations for recognizing all of your legs up.  Having a w-2 job like we do can make life much easier, in some aspects, than the full time investor!

What are your peers doing? I'd start there. It depends on the location.

Hi Kwame, An agent can represent both of you -- but acts more as a negotiator than someone solely with your interests in mind. As far as the agent is concerned, a lower purchase price is still more money for her because she can double dip.

Hi Dustin B. The concept originated, from what I can tell, a series of little vignettes collected into a book called the richest man in Babylon. You could read it in an evening and I highly suggest it. The idea is just a way to change your frame of mind about finances and how you save money. For most people they make money. Say 3000 a month at their job. Then, they pay all their bills. Whatever left over is theirs. Instead of paying your bills first, pay yourself first! Take 300 of that 3k and put it in a liquid savings vehicle (a low yield savings account). Now with the remaining money you pay your bills. The book goes on with advice with what to do with that 300. You could go out to dinner. You could get new shoes. Or-- you could turn that money into a performing asset, like rental property. Now that 3k a month is 3.1k. As long as your lifestyle doesn't inflate, you're now saving 33% more than you did before, taking 33% less time to save up to purchase your next performing asset. And so on and so on until you are the richest man in Babylon.