All Forum Posts by: Austin Willman

Hey Jose, I'm getting involved in the REI community here in Phoenix. I just joined AZREIA and paid for a year membership. There are plenty of upcoming events, and I've found that people are generally happy to help and share their knowledge. Cheers! 

Hey Mark welcome to the BP community! I am looking to build my team as well and am networking at every opportunity I get. What kind of projects are you looking to do and in what areas?

Justin Kill what areas were you thinking? I am in the same situation, trying to get a feel for "up and coming" neighborhoods, if you will. There are some pockets I've been looking at that will have a row or 2 of renovated properties but are in close vicinity of the less desirable areas.

@Chris Adrian I'm more than happy to share my experience with the program so far, as I said I would keep updating as I get further in.

I read your other post on the take away from the 3 day seminar, and it sounds like it was a much different experience than the one I had attended. Our presenter was Ralph Plumb, who was FB's first employee (or first something... he was part of the team in the early stages), and I learned a great deal from him over the weekend. Now, maybe it was because I hadn't had much of a financial or business education prior to, but I learned much more about business and finance than I did about real estate. I would say that 50% of the weekend was spent discussing local and national economy, business systems, tax code, self directed retirement plans, business law, and other subjects needed to run a business and not just about their Mastery program. Really, it was the people who were a part of FB present at the event that made me feel like taking the next step would be a good investment for me personally. 

It has been one week as of today. Components I am finding the most value in thus far are how to structure a business and make it replicable. Using a systematic approach to conducting how your company will run, so that you can successfully expand without too much hassle. 

Resources covering every aspect of REI, which are laid out in a step-by-step curriculum with associated "action plans" with each step to guide how to take action on each subject. The curriculum is broken down into 8 phases: business foundations, deal analysis and appraisals, offers/contracts/negotiations, marketing, financing, wholesaling, rehabbing and contractor management, and property sales. Each of these has associated materials, examples, and comprehension checkpoints.

Field experts/career coaches available at any time. I personally had 3 calls last week just about questions I had about seeking attorney, accountant, and business set up. They want to help as much as possible (you obviously have to take the first step in asking for help). 

They have their own software too, but I'm not to that point yet. 

While I will still be active on BP forums, I won't be defending my decision or the FB program anymore after this, because it is getting to be counterproductive. If you have more questions however, message me! Hope this helped a bit. 

I'm glad so many people are taking an interest in the topic of options for REI education! In my situation I was blessed to have had funds available to me literally from a freak accident. I agree that one could find the information given through the program for cheap elsewhere, but many would find it takes an incredible amount of time and experience learning things the hard way. The key is exposure! I'm obsessed with the BP community and refuse to limit the amount of knowledge I can expose myself to, so everyone's comments on this topic are very helpful. I'll keep y'all updated on my progression in the program, since it looks like I'm the only one in this thread who has gone this route.

Dude the program is between 30-50k if you're telling people to be spooked on the education they receive from those price points, you are doing something wrong. I think the tuition costs are very undervalued for what I've taken away from the program. Do the research and everyone can make their own decision..... mine was to surround myself with people who are extremely successful

Tony Hoong thanks for the clarification! So it would depend on what is generating the most income basically. I'm sure it gets more complicated as the numbers grow and tax brackets shift, but I think for starters the importance of identifying the main generator of income is not to be overlooked.

Jenifer Levini just want to make sure I'm being conveyed the correct information myself, but can you file as S-corp where you can declare a reasonable salary to be taxed on and have the remainder be classified as dividends? The passthrough taxation would only apply to your personal salary? I'm new as well and want to be sure I'm acting on the most sensible info.

John Horner thanks man! Let's connect soon, always looking to grow my knowledge and discuss what's happening in the Columbus market.

Evan Campbell King Lincoln is definitely a district with potential. The area just south has been up and coming east of 71 and I'm sure will keep expanding north/east. From what I've seen, OTE is becoming a new safe haven for young people who want the unique historic feel of German or Italian village but can't quite afford the higher prices. Both areas in looking to expand in myself!