All Forum Posts by: Monte Blackwell

At what point will you just stop? If you want me off the forum I will. 

I don't think she needs to get her license for her first deal. Not trying to sell anyone a pipe dream. There is a lot of money she could be saving for her first few deals. My comment or opinion did not warrant all of this. 

My only regret about bigger pockets is bumping into to you and responding to you. 

Mr Hinrichs, 

1. One sarcastic comment deserves another.

2. Writing a book means nothing to me. 

3. You chiming in and offering your opinion is no different that me offering mine. I suggest we all stay in our lane. 

4. Both of you made it all about you and your dealings and forgot about the original poster. Everything I commented on was for her benefit not for yours. Mr Scott turned it to me and questioned my opinion. I responded accordingly. 

5. Now you have decided to do the same. 

6. You wrote 5 or 6 paragraphs about you and your dealings which has nothing to do with the original poster. 

7. My response to the poster was for her benefit not for you two to try and pick me apart. 

8. Subtle sarcasm is not hard to read. I picked up on it and responded, which now makes you feel compelled to fire back me. I'm not thinned skin.

9. I could go on but I'll leave you with this. Probably not the best idea to insert yourself in the middle of two people debating. It's not a humble move but an elementary one. 

It's apparent that my posts weren't read in its entirety, otherwise we wouldn't be here in the first place. 

Read the entire post my friend. By the looks of your photo, I've been doing this longer than you've been alive. CLEARLY, I'm must be doing something right. If you carry a license just so you can get comps, then YES, you are clearly doing something really wrong. Hang in there little buddy, experience will fatten your bank account. 

Simply Unnecessary. Realtors rely on those and they need them, we don't. Seasoned investors just know the market. It's quite simple. Know your market and the price P/Sq/ft is the holy grail. Also, you don't have to have a license to get CMAs if you needed some. I surely wouldn't tell someone to go and spend all that time and money to get license in case some day you might need some comps. Furthermore, a broker friend could easily put you on as a staffer and you can access the mls just the same. 

I had my license for 9 years and sent it back to the state. I'm going against the grain here but I would offer the contrary for advise. I do just fine without it and I don't have to worry about all the fees, CEU's, mls dues etc.... I can do everything a realtor can do and more (As an investor). You can flat fee your listing and get your deals on the mls and save the same 3% that everyone has mentioned. You have all the tools you need to get the deals. Showing properties as a realtor will side track you and CONSUME YOU!!!!!! Your time could be better spent working on your own deals. BTW, if you happen to get in good with a realtor or broker they can help a little. Most of all of my deals were scooped up before the Real Estate community ever saw them. Furthermore, a lot of deals you will pass up and you will wind up giving them to your favorite realtor or broker and that goes a long way. I could go on and on but I couldn't imagine, myself being bogged down with a license. 

I agree with Stephen Akindona that you should do your first deal and then once you get your feet wet you can make a better decision. BTW, by the time you take your RE classes, study for your license and take the test you could have already made 5k-25k. Just saying. 

Hope this helps. My experience, My opinion!

I 2nd what Michael said. It's very important to have an exit strategy before you do anything. Purchase and exit is EVERYTHING! 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $185,000
Cash invested: $20,000

4 Plex all 2/2's

What made you interested in investing in this type of deal?

Retirement

How did you find this deal and how did you negotiate it?

always looking and negotiated with sellers.

How did you finance this deal?

Conventional

How did you add value to the deal?

Experience in RE

What was the outcome?

Success

Lessons learned? Challenges?

How to deal with tenants.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $165,000
Cash invested: $13,000

2/2 Duplex in a gated community. Community pool and rents for $850/month

What made you interested in investing in this type of deal?

Buy and Hold.

How did you find this deal and how did you negotiate it?

Market deal used a realtor

How did you finance this deal?

FHA

How did you add value to the deal?

Know whether or not it would cash flow and if it is in a marketable area.

What was the outcome?

Success

Lessons learned? Challenges?

None

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No