All Forum Posts by: Charles Willie Harris

I just got off the phone with Skyler and I'm really interested in taking the leap. $5,500 is quite a lot so I'm trying to review as many legitimate reviews and testimonials as I can to make sure that it makes sense for me and my situation.

I know that I learn and apply myself best when I'm given straightforward instructions, a guide, clear direction, and skin in the game.

I'll bump this up to see if there have been any new updates or developments in regards to the Wholesaling Inc program.

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I know that I learn and apply myself best when I'm given straightforward instructions, a guide, clear direction, and skin in the game.

I'll bump this up to see if there have been any new updates or developments in regards to the Wholesaling Inc program

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This just makes me realize how much more work I need to do

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Originally posted by @Evan Hurd:

Justin,

I know this is a late response.

But welcome! I would love to get together and discuss ideas.

Any updates or status on this?

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I may be able to make it! I live in Ankeny though, so it'll be quite a trip for me. I can't believe there aren't any events in the Des Moines area!!

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Originally posted by @Frank Patalano:

Originally posted by @Charles Willie Harris:

Originally posted by @Frank Patalano:

Originally posted by @Charles Willie Harris:

Originally posted by @Frank Patalano:

Originally posted by @Charles Willie Harris:

I just need a lot more time to understand the process and get my educational foundation created. I've only started binging this stuff for about a week now. I'm hooked, I don't have much money, so I'm just really focused on saving as much as I can as soon as I can so that once I've gotten comfortable understanding the basics, I can spend the weeks to develop my plan before I actually get going.

I'm a big learn and plan first guy, so it's really all about getting all of that down before I actually start approaching CPA's, lenders, lawyers, realtors, etc.

You are early in the process so keep going.

Set goals to do so much reading a day. Try to listen to at least one podcast a day. Try to go to one networking event a week.

I wouldn't worry about a CPA yet. Get yourself 3 people first. A lawyer, a contractor, and an agent.

Go out there and look at so many properties a week.

Sounds good--Before I do that, I still need to determine my plan---including choosing whether I'm going to go with straight real estate investing, wholesaling, houseflipping, and/or BRRRR. I really need to study the pros and cons of these and how they fit into my goal(s). Any advice on that?

What are your goals?

Well, that's a loaded question. At an 80,000 foot level, I want to get to $50k/month; My ideal timeframe is to reach this goal by the end of 2025. I'd like to begin passively, with REI being a side hustle until I'm able to reach $25k/month before quitting my job and going into REI full-time for another 15 years and be done by 55.

If you want to start passive but don't have a lot of cash you could invest in buy and hold rentals with property management. The more cash that you have, the more that I would lean to hard money lending.

Hmmm, I haven't done a lot of research into the Buy and Hold process just yet. I'll take a look.

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Originally posted by @Frank Patalano:

Originally posted by @Charles Willie Harris:

Originally posted by @Frank Patalano:

Originally posted by @Charles Willie Harris:

I'm a big learn and plan first guy, so it's really all about getting all of that down before I actually start approaching CPA's, lenders, lawyers, realtors, etc.

You are early in the process so keep going.

Set goals to do so much reading a day. Try to listen to at least one podcast a day. Try to go to one networking event a week.

I wouldn't worry about a CPA yet. Get yourself 3 people first. A lawyer, a contractor, and an agent.

Go out there and look at so many properties a week.

What are your goals?

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Originally posted by @Ron Rohrssen:

@Charles Willie Harris It might seem overwhelming and a bit daunting to get started. I love BP. It was very helpful in getting me started. But, I also purchased an education package from Robert Kiyosaki's training program. RK's training helped me understand different ways to invest in real estate. It's not all just residential, single-family-home investing.

I'd highly recommend Brandon Turner's book, "The Book on Investing in Real Estate with..." It's in the BP book store here: https://www.biggerpockets.com/... That introduces you to several different types of real estate investing. But, reading the book is a bit like licking the ice cream cone. One taste and you just want more. It's a starter book, and you will become acquainted with concepts and terms while being inspired by Brandon's enthusiasm.

If you haven't yet read "Rich Dad Poor Dad" by Kiyosaki, do so as soon as you can. Consider his book, "Cash Flow Quadrant" as a must read, but at a lower priority than the other 2 I mentioned.

I've basically had to set aside almost all business activities for about 9 months now; leaving rentals rented and unable to pursue anything new for awhile. Something that I should be able to turn around during the rest of the year.

I'd recommend finding a local REI group. I suspect you will have success finding one in your area. You might consider the IA Landlord Association as well.

https://www.iareia.org/

BP has a small list of Iowa clubs as well:

https://www.biggerpockets.com/rei/iowa-real-estate-investment-clubs/

Take these steps and see what piques your interest. That will help guide you to explore other areas of interest.

Want more? Let me know.

That's amazing info, thanks! I've already started on BRandon's book and I'm watching a lot of his videos as well. I sat in on a few Kiyosaki webinars and I intend on checking out his books in the next month or so.

I'd love to start pursuing sooner rather than later. It would be great to find a partner that I can team up with for my first investment, BRRRR or house flip so that I can reduce my risk and learn sooner.

1 Vote

Originally posted by @Daniel Bradley:

Originally posted by @Charles Willie Harris:

You need to be comfortable with rehab if you want to get into houseflipping and BRRRR. It can be very stressful dealing with contractors, budgets, and the dreaded unexpected. I found that out the hard way from only one rental and it lead to near sleepless nights. Unless you're doing it yourself, which is another matter altogether.

Your current lifestyle and obligations might help dictate which path you choose. Your expectations will as well. The higher the risk, the higher the reward. If you want to start smaller then there are more passive ways to invest.

I am 100% ok with starting small and passive. I'd love to try and find someone that I can partner up with on a few house flips so that I can get my feet wet, build up some equity and get something going somehow before diving in all alone.

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Welcome! I haven't started much but I'm interested in tracking your progress since I'm working down the path toward REI soon. It'll be nice to see how another newbie gets results.

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All Forum Posts by: Charles Willie Harris

Charles Willie Harris has started 5 posts and replied 89 times.

Post: Wholesaling Inc With Tom and Cody. Is it worth it??

Post: Wholesaling Inc TTP, Cost Question

Post: Business Plan Outline

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Post: So what's holding you back?

Post: So what's holding you back?

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Post: So what's holding you back?

Post: Newbie real estate investor From Chicago, IL