All Forum Posts by: Daniel I.

@Adrian Olinski Awesome, man! Shoot me an email at the address in my signature.

@Brie Schmidt @Dominique Grayson @Sherri Southwell Thank you all! I'm excited for what lies ahead.

Well, today was my last day at my day job! It wasn't necessarily done to start investing full-time, but hear me out. 

My girlfriend and I are packing up and moving from Chicago to LA. Chasing after some warm weather, sunshine, and oceans, mountains, and deserts. Not exactly the ideal real estate investing market, however. 

We are both photographers and will be continuing to do freelance work out there. On the real estate side, I'm assembling a team in Chicago to be my boots on the ground for my new wholesaling operation. I've been working on an automated wholesaling system in Podio to streamline the process for everyone on my team and get deals closed. I've found it's too easy for leads to slip through the cracks and bottlenecks to occur when everything and everyone relies on me to do simple things. I have a good handle on the Chicago market and think this will be a great success. In fact, I need it to be a great success. I've given myself time by quitting my job in order to make this happen and I've given myself an ultimatum of sorts by signing a lease in LA (expensive, to say the least). Sometimes a little pressure is good and I'm not one to shy away from the hustle.

My boss also said he'd give me as much work as I wanted and able to do while working remotely, so that may help ends meet while working on closing my first deal. I have some cash in reserves for marketing and am ready to hit the ground running! 

Cheers!

Feel free to hear more from them, but just know that if it sounds too good to be true, there is a very high probability that it is.

I'd definitely go for the Irvington one out of those two. I like Irvington pretty well -- some revitalization is on it's way. 

Sounds like a good idea to me! Good on you for taking action and getting one step closer to financial freedom. Remember: "Normal" means being in debt, having no savings to speak of, and retiring poor.

@Account Closed Welcome! I definitely think @Mark Ainley has some good points. Write down your goals and work backwards to break it down into actionable steps to make it happen. Best of luck!

Your lawyer should have your best interests at heart, and if you don't trust that he does, you may want to get a new lawyer. You should be able to feel 100% confident following your lawyer's advice over the bank's.

Man, this show is such a joke. Guy always under-estimates the rehab needed by about $40k, but luckily, comps always increase the ARV right when they finish, so they still make a tidy $40-80k profit. Their profit is never net, despite what they want you to believe. If you're going to watch it, watch it for purely the entertainment value provided by guy in flip-flops being a dope around a construction site. Please note the consistent lack of reality in all reality shows.

If that works for you, sure. I think you'll have better luck calculating all of your costs, hard and soft, and make an offer with the margin you need to take it on. I'm not sure I'd use a one size fits all approach like 50% ARV. Just work your numbers, come up with your maximum allowable offer and give yourself some negotiating room with your first offer.