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All Forum Posts by: Ben Gothard

Ben Gothard has started 1 posts and replied 3 times.

Post: Committed - Posting For Accountability

Ben GothardPosted
  • Investor
  • New Orleans
  • Posts 3
  • Votes 4
Quote from @Chris Seveney:

@Ben Gothard

Correct, or do some modified version of possibly finding deals and partnering with someone. Basing your strategy on 100% financing is a very small audience plus it’s very risky in a declining market.

What makes it risky in a declining market?

Post: Committed - Posting For Accountability

Ben GothardPosted
  • Investor
  • New Orleans
  • Posts 3
  • Votes 4
Quote from @Chris Seveney:

My only recommendation would be you may want to spend that time first trying to do something that generates income. Finding 100% seller financing is going to be EXTREMELY difficult and the amount of time you will spend vs. cost benefit is it worth it. Lets say your time is worth $50/hr and you spend 200 hours finding the deal - are you better off with 100% financing in a down market of putting $10k down and getting a loan? 

Asking this as food for thought, as I see many people WANT to get into real estate with no money but do not get very far because they may not be ready mentally or financially. 

As in you’re suggesting to just go the more traditional route of saving up cash, deploying that cash as a down payment, and then saving up some more, rinse and repeat?

Post: Committed - Posting For Accountability

Ben GothardPosted
  • Investor
  • New Orleans
  • Posts 3
  • Votes 4

Hey all, recently I’ve made the decision to go all in on real estate investing. My plan is to keep my day job (m&a, sales) and during my off time cold call sellers in my home town and find the right partner to set up my first creative financing deal, preferably 100% seller financing so I can do deals without any outside capital.

Then scale from there. To get started, I’ve listened to a bunch of BP podcast episodes to figure out the rough outline of how to do this, have built a relationship with a loan officer, real estate attorney, and property manager, found a mentor who has been doing real estate for close to a decade now, and equipped with this team I am going to do 100 cold outreaches per day to RE agents and fsbo sellers directly using Zillow, Redfin, Trulia, etc. to find them for long enough that it would be unreasonable for me NOT to get a deal. I will record everything about each deal in my notes using Obsidian to track who I’ve reached out to, keep track of information, stay consistent on follow up, and document the learnings from each deal.

Doing this post because in the past I’ve had a propensity for shiny object syndrome, and I refuse to let that stop me here. I am publicly putting myself on the spot with you all as my witnesses that I’m going to make this work or die trying.

If anybody would like to join me for a daily check in we can hold each other accountable and make progress each day.

Regardless, thanks for reading and let’s go close some deals!