All Forum Posts by: Charles H.

Hello BP community, I am about to buy a bunch of lists for mass off marking leads. This will cost a little bit as well as the cost of postal services etc. I also use Parley2.0 that cost 300$. Additionally, I drive around neighborhoods. And at one point I will go to a place I have under contract so there will be some travel expenses. I also will attend some real estate conventions etc. Is there a way to deduct all these expenses from my personal income while you don’t have any rental yet ? Can I make a marketing LLC running negative and pass through it into my W2 ? Any tax strategies for this kind of situation ? Basically all the cost that happens before you actually have a business in real estate investing. Thanks all. To our successes, Charles.

Originally posted by @Bradford G.:

I saw Rod Khleif - Life Time Cash Flow Podcast is now offering Multifamily coaching
One on One  $14,900 one time and $1900 a month. 
Small Group $4,995 one time and $295 per month
online course $2000 or $3000 depending on when you sign up

I pursued Rod's online course a little while ago. Gives you a lot of step-by-step videos. In theory, you can get the same information if you look online, but here it will be condensed, straight to the point. It had a few tricks too that were interesting. He also provides videos on the mental aspect of this business, as it takes "80% mental work" and the rest are the mechanics. Overall it's solid for people with no experience and who want to know the business quickly.

I have seen the deal you are talking about. Ended up not pursuing for some reasons, but one advice I read/heard from a BP member (can't remember) is that if you choose to take Section8 people, the person was asking that the people give a proof of job/income. He was not recommending a stay-at-home Section8 for some reasons like for example less wear in the unit since the tenant would not be staying at home all day, etc...

I am looking into this investment too. One good source of info is to listen to the Mobile Home Park Investing by Kevin Bupp. Very solid MHP investors discussions.

Thank you all. Looking forward to post upon my first deal!

Happy success to all.

Congrats @Jordan Moorhead! 

What terms did you manage to get for your Owner finance? (Amortization, Balloon payment?, %, DP....) 

Hello BP.

My name is Charles. I am 29 years old and currently work for a private jet manufacturing company in Savannah, GA as a Structural Test Engineer. 

While this is a fairly fun job, it gets boring/repetitive after a while and it can be a cubicle job at times (awful). I chose last year that I wanted to go again out of the easy path and do my own thing by learning the real estate investing business to reach financial freedom. My first "move" in life was when I decided at 19 to move to the US from France, and try to have a life there.

Concerning real estate, I personally don't own anything yet, but I have been involved in my mother's real estate investing since age of 17. I have been more involved in the management side of several SFHs in the Orlando-Kissimmee, FL metro, as well as a parking lot in the suburb of Paris.

Over the past year, I have been teaching myself and learning from many people like Rod Khleif, guests from many podcasts I follow (BP, Rod Khleif, Bill Manassero, Joe Fairless, Grant Cardone, Kevin Bupp, etc...) and many articles/books.

I had set myself to have my first investment by age 30 (4 months left! let's see if i can get it by year 2017 though). My initial goal is to reach 40 units @ 100$ net/door minimum. Then I will probably fully focus on REI.

I am interested in 5-30 units complexes. I also like quads.

The market I am looking at are Orlando suburbs (Kissimmee, Altamonte Springs, etc) FL , Greenville SC, Charlotte suburbs NC, Columbia SC, *maybe* Atlanta and Greensboro/Winston Salem. I also just did a mailing campaign for 10 quads in the same street in Charleston, SC.

Best success to all, and feel free to contact me if you have same market interest or if you just want to chat!

Charles.

My company is giving a 6% match 401k. I used to do the 6% until I stopped a few months ago. Definitely something that most people would not do, but I chose to take the chance of using that extra 6% of my income for my endeavors. 

Few reasons why:

- I have done stocks and never felt confortable with them. My company pretty much offer some mutual funds. I don't like the fact that they just aim for an average RoR that I can't even control.

- If sh*t hits the fan, I can't control anything.

- If sh*t hits the fan, a real estate investment is a roof where you can live under. Stocks can just disappears. 

- It's giving me a challenge and i am not following the mainstream. 

- My manager told me he had 1 million $ on his 401k and he is a 56-year old engineer with still a lot of debts. It made me sad to see that kind of savings after 30 years of aerospace engineer work.

So we will see where my strategy will go. Definitely I could have made money if I had not change my 401k investment this year, but I feel the stocks don't really make sense YTD.

Happy success to all.

Thank you all for the answers!

Double post due to bug on phone app. Please delete. Sorry for the inconvenience.