All Forum Posts by: Bhekizwe M.

Originally posted by @Brock Michael:

Hi I’m very to new to the real estate game and I’ve got a few questions, I won’t be getting my first property for atleast 6 months maybe a year. I am 20 years old and first I’m going to move out and get my own place and I’m moving across the US. One of my plans is to buy a duplex property and rent out the other side and live in the other. My question is do I need a real estate license to make a lot of money in real estate? Or can I buy properties and use them as investments without a real estate license? If I don’t need a real estate license for that, what does a real estate license allow to me do exactly. I know it’s probably a stupid question but thanks.

Hello @ Brock Michael.Welcome to BP

Starting with an investment property is the way to go

A real estate license is for professionals to sell real estate on behalf of others according to certain standard of ethics etc.When investing, you are a  principal in a transaction thus you do NOT need a license for that.As an investor you can make as much money as you like according to your knowledge of markets, skills and resources.

A license allows you to represent sellers when they are disposing their properties.Its an AGENCY relationship

Set a savings rate that is percentage of your income.Each month automate that amount out of your current account into your investment/portfolio account.That is you to keep and fund your asset purchases.This is capital formation at the household level.

Anthony Robbins in his book, Money Master The Game gives numerous examples of individuals who followed that formula.Sir John Templeton related that he would save 50% of his income to build his business.A UPS employee from his twenties put aside 20% of his income to purchase UPS stock.By his eighties he had a portfolio of over USD70 million of which he gave away USD35 million to charitable causes

There is a warning on the illusion that wealth will somehow, one day fall into our laps.Each amount that passes through our hands is potentially seed capital, which can be used and allowed to go through the power of compounding then contribute to our portfolio growth.

Bill Greene in his book "Think Like a Tycoon" suggests setting aside 95% of your income towards your portfolio to become a tycoon.Only spend 5% of your income on consumer items developing a way to expand your means until necessities fit in that  5%. Overall he suggests being an investor rather than a consumer

Keep reading and taking action.Reading and/ listening to podcasts from a qualified mentor with track record is a form of mentorship

Connect with other investors, partners/lenders.Get your ACTIVITY level up where you are building professional relationships daily(with motivated sellers, cash buyers, private money lenders etc). Momentum gets the deals flowing in and your income going up

Originally posted by @Timoteo Merlos:

@Chad McMahan I need capital so I am trying to wholesale first. I know everyone says that but I am actually trying.

Its never late to start.Read learn, listen, connect as mentioned above. With wholesaling its about marketing and sales....overcome objections....solve problems...negotiate wholesale prices....control the property....assign/double close...repeat

There are other exit strategies too

HI @Ola Sauvao. Welcome to the forums.Keep up the effort and aim to commit time to learn more then apply effort to get results

Unfortunately, real estate investing doesnt favour dabbling...its about FOCUS, COMMITMENT till one gets results and solves other people's problems profitably

All the best forward

Originally posted by @Patrick Snyder:

@Axel Meierhoefer

Obviously that's not how it works, and everyone has a different strategy, with some people paying cash. I'm not taking a side on the issue, but for people who think real estate is always a great investment, and that they're going to get rich, it's worth a read. I've met a lot of people over the years, dating back to pre-2008, who jump on board cuz it's trendy to be able to tell people you flip houses or whatever. So no, you're not going to get money from the bank to invest in REITs, but you can achieve good, stress-free, passive income without getting in over your head.

True.There is need for consistent effort to build that portfolio and cashflow. Overnight success...twenty years in the making

Originally posted by @Lisa Marie:

Real estate is not much different than any other business. The people who are successful at it are likely to be successful at other business if they had chosen to do those, because they have the entrepreneur spirit and the grit and smarts. On the other hand, people who don’t have the skills or work ethics to thrive at a W-2 job are not likely to be successful at real estate investing either. There is no magic in real estate investing, it takes the same kind of discipline, hardwork, and intelligence as any other business.

Thank You.So true...it takes discipline and one needs to believe they can do it.Real estate is no different from other asset classes

From selling oneself as a buyer/seller, financing, problem solving etc...its all hardwork to build the business and portfolio

Originally posted by @Account Closed:

There are only 2 ways I know of that someone can retire early in life with $10,000 a month passive income from real estate starting from scratch, not having a large amount of money to start with.

1. Be the lead in a syndication of a 200 unit or more apartment building (there is enough momentum and volume to have a property mangement team.) McElroy, Kiyosaki, & my partner and a few others do this type of investing

2. Buying "off market" using Subject To and then selling as a Lease Option, getting 10% down, with generally $700 to $1,000 a month positive cash flow, which is what I do. I've written about it & shown proof elsewhere on BP. If you say it can't be done "that's YOUR story" and for you, you are correct. 

You are only limited by what your mind can conceive.

But, I agree with the original poster's comments, most won't ever take the time or do the work to make it happen.

Like this.Thank You

Most wont attain...hehe...i could be one of them....i need to prove myself...

Embracing rejection from making low ball offers to get the few deals then obtain the cheap financing for the property so that it cashflows....

Thanks for sharing stories to 10k.It takes frugal living reinvesting profits to build the portfolio until it cash flows the desired amount.A lot of sweat equity at the beginning but at the end it seems most people want passive income

Thanks  for sharing.i believe doing the numbers increases chances of getting ultra bargains

Well done