All Forum Posts by: Billy Barnes

Hello everyone, I've been studying Real Estate Investing, reading the books, watching the Videos, reading the Forums, and going to the local Meet Ups and REIA's. I have an understanding of how to do it, but I don't have the capital to get started what I want to do, which is buying single-family and Multiplexes because I'm a full-time single Father and Disabled Veteran, so I want to raise the money through wholesaling. I just need to make sure I'm filling out the Purchase and Sale agreement and Assignment contract correctly for Colorado. When I looked through the ones here on BP I noticed a someone saying that they didn't think that that would hold up in Colorado; this undermined my confidence in using them, so I reaching out to see if I could give some guidance.

I've studied no it's time for some action, so any help is appreciated. Also if anyone is up for wouldn't mind working together, I have no problem doing most of the work, filling out the paperwork, and sharing the profit for the first couple of deals to get actual real experience to would be great. I am looking in the Springs and South Denver. 

Thanks everyone in advance!

Hello everyone! I need help buying my first rental property! I thought I would try here for some help, the worst someone can say is no.

About the deal, I have someone all ready to move in. They want to do a rent to own situation and take responsibility for most of the repairs themselves. The tenant is an Army buddy and his wife who I trust. The house is located in Montgomery Al for about $69,900 (I'm going to try to negotiate down) tenant will pay 550 per month for a total of $75,500 for the house overall. 

The description reads it as a 3 bedrooms, 2 bathroom home sitting on 2 acres. The living room has gas log fireplace, Bedrooms are a split floor plan with the master bedroom being on opposite side of home from the other 2 bedrooms. Needs some TLC but still a great little place to call home.

My problem is, though I am financially responsible, my ex did a number on my credit. I need help finding a money partner who can help with the down payment for the loan or who can buy it for me and I can create a mortgage with that person. I have no problem will paying back more on top of what is borrowed if not too much. I also am open to suggestions from people more experienced than me, on how I could buy this house.  

I've tried to look this property up on the county assessor but nothing is popping up for me. Same with Search Comps. 

I know I might get bashed here, but you don't know until you ask! Plus I have a thick skin from the Military!

Thanks, everyone!

Billy Barnes

Bad Wolf Properties LLC

A warrior never worries about his fear.

-Carlos Castaneda

Thanks for the reply everyone! Travis Sperr, to answer your question, I am currently looking for a money partner to help pay for the down payment and to possibly do future deals within the area. I am looking at buying rental properties around Military Installations here in Colorado. My business partner and I are former Military and very interested in and know how that market works and what to do if a tenant doesn't pay. I am also looking at renting my own Townhome out this summer.

Mike H. Colorado is exploding right now, where I currently live, entire neighborhoods are being built around me and prices have raised quickly. I have lived in this certain area for 2.5 years and seen the prices just explode. If I had known what I know I would have picked up a few properties since getting out of the Army. It has taken this long because I have been watching the market, I don't want to over-leverage myself, and I want to do this correctly.  

I also touched base with the tenant again, she said that carpet and paint were actually done not too long ago. Current tenant is paying 1450.00 per month. I still haven't gone directly to the owner yet; this was brought to me by the tenant because she knows I have been working and studying REI exclusively and have my own LLC. He told her to relay the price as 280k to me. I've done my research on the Townhome, checking the history, the county assessor, and ran the comps that came out to about 300k. The townhome is in a very upscale neighborhood in which I also live.

I am going to talk directly with the owner to see if the price is negotiable, then I will get back to you with accurate numbers, but I would like to partner with someone who can help provide the down payment if everything looks good. My post here (I've reached out to others on different sites) is to see if there was any interest and to be proactive so I don't have to wait to find someone that I can bring the final numbers to. I am looking for someone that I could work well in the future, someone that is ethical, and knows what they are doing also. I've put a lot of work, studied hard, and put a lot of effort to get to this point, but I am driven and just want to get this ball rolling correctly. 

Thank you for your time everyone. 

Hello everyone! I just got offer a townhome that is is off the market that is a turn key. It is a 3 bed 3 bath and is about 1571 Sqft. All the appliances are fairly new. Might need carpet replace and repainted are the only repairs needed. The owner is Asking 280K but the Comps come out around the value of the Townhome as 300k. I just need a partner to help me purchase it. I plan on doing some minor repairs and continuing renting it out to the current tenant. 

Hello everyone here on BiggerPockets, I am a newbie Real Estate Investor and I am looking for some help getting started. You see for the past year I have been trying to learn everything I can about the business. I have bought and read numerous books, scrolled through and absorbed info from multiple online forums and articles, joined and interacted with multiple FB Groups, watch hundreds of hours of YouTube videos, especially BiggerPockets podcasts, and went to the local REIA to network, I even formed my own LLC! Now I am ready to gain some real world experience! I currently live in Castle Rock so I am looking in starting in the South Denver/Buckley/Ft. Carson/Springs area.

I am looking to find people that will let me network and/or work with them so I can gain the experience, learn the systems, properly utilized the information I need to succeed. Who can answer questions when they arise. Though I am not looking for someone to hold my hand I am looking for someone who can point me in the right direction at times. Someone I can earn money for the people of us if possible! I am fiercely dedicated on learning how to do this job properly! I will do what it takes to get the job done. I am a US Army Veteran who is not afraid of hard work!

I am predominantly looking at learning how to do Flips/wholesales until I have the money I need to get into long term holds; this is what I ultimately want to do as a Real Estate Investor. My goal is to own vacation rentals and rental properties around Military bases (I have a trusted network of Veterans around the country that can bring me properties and checkout said properties. I also know how to get the money from the Soldiers/Sailors/Marines if they don't pay the rent, currently though I just don't have the money and/or knowledge on how to acquire them yet). But what I truly want and what really excites me as a REI are apartment complexes. I am passionate about learning on how to acquire, fix up and how to own them. (Is this a weird thing to be passionate about lol?)

Why do I want to do this? My why is simple, for my kids. You see I am a full-time single father with no real family. Everything I'm doing is for them. I am a disabled Veteran (wounded in Iraq); I am tired of struggling to cover their needs and choosing what to sacrifice to do so. I am financially responsible, but my pay is static with no raises (it will, in fact, go down when the kids get older), the cost of living is climbing here in Colorado, I don't have a 401k to pull from either. I don't tell everyone this because I want sympathy, in fact, the opposite, This is what drives me to be my best, I want more out of life, to have purpose and work toward my dreams of being financially independent, Live life on my terms, to be able to show my kids how to be successful and overcome challenges and be somebody worth looking up to in their eyes.

So if interested please let me know, even if you’re not, I would still love to network, talk with you, listen to your advice or just simply pick your brain on the subject.

-Billy Barnes

Hello everyone, my name is Bill and I am a novice real estate investor here in the southern Denver area, though I haven't done my first deal yet, I am hoping everyone here at biggerpockets I can potentially change that. Over the past year I have passionately been trying to learn everything I can about Real Estate Investment; I have studied hard in college classes, followed multiple online mentors, I have read multiple books, read countless articles, watched several hours of YouTube videos, joined several FB pages to network on, and extensively studied everything on Biggerpockets. Now I would like some advice on where to go from here.

My business partner and I and both US Army Veterans who have decided to pave our own way. A short summary of us would be after getting out of the Military we became very dissatisfied with "normal" civilian life, so we decided to apply the skills we learned and our resources as Veterans i.e. GI Bill to create the life and lifestyle we both want for our families and ourselves.

After studying REI for the past year we have decided our goal would to ultimately put together an Investment group to secure Commercial Real Estate starting here in Colorado. I guess my question would be how do I network and find potential investors and what advice would you give us ultimately to get this off the ground? We are completely dedicated to this idea and no matter what we will give this everything we have.

Hello everyone! I am a US Army Purple Heart Veteran and full-time single father. I have decided to get into Real Estate Investing because I would like to make a better life for my kids and myself and show them how to maybe one day own their own business. I am willing to work and study hard to get that first deal. If you have any advice please share lol.