All Forum Posts by: Cheryl Vargas

Maybe you won't find anyone in his community saying they are not getting their value there (at least not out loud) but that's probably because saying anything at all critical there will apparently get you kicked out immediately (guess the community is only "forever" if you keep any constructive criticism to yourself). There are folks on here and on reddit, and probably anywhere else where free speech is allowed, who paid for the "mentorship", and have plenty of criticisms. Just do a quick google search and skip all the obviously fake reviews that say the exact same key words and phrases. Anyone who has to pay for good reviews, deletes any critical comments and blocks those people, and can't answer any real follow-up questions when someone digs into what their word-salad comment is actually supposed to mean (like when he tried to explain how to handle a due on sale clause on here a few months back, and made up a ridiculous answer that we all called him out on because it was wrong, then he stopped commenting), is a little sketchy IMO.

I’ve gotten my money’s worth after my first year in Pace’s group for sure. People are frequently collaborating and doing deals together, which is the cornerstone to the group. Many OG gators help out the newbies and bring good deals to lend on. I’ve gotten $10k in returns from a couple of 6 month loans, and some EMD loans.

I’ve found a core group of people that I can trust, and I’ve learned how to evaluate the borrowers and good contracts to use to protect my money, and that's helped me immensely.

1 Vote

Austin, Texas

I’m getting every penny out of joining the Gator community!

I have found people to partner with to do deals, and have earned back double my cost of joining after only being in the group for 1 year.
I have been on BP for 10 years and never found people to do deals with, so Pace’s tribe has been way more beneficial for me.

0 Votes

Portland, Oregon

Quote from @Benjamin Cuddy:

@Alex Chin and @Cheryl Vargas, yes I have the same questions as well. Does anyone have insight on this topic at this point in time?

I so far have tried listing a week on Airbnb as well as Redweek. Both have not been successful yet with a reservation coming up in November. I've also posted the listing on my social media accounts. Have had some bites but nothing has solidified.

Looking for any input on good strategies to undertake to rent out timeshare time somewhat consistently.

Hi Benjamin

Sorry, I don’t know about renting time shares. I decided not to get one after reading all the comments from people.

If you are wanting to rent yours out, maybe look on Airbnb for others for rent in that area and price yours lower than the others.
Also compare hotel prices in that area. That is what your potential renters will be comparing. Put in your ad how yours might be better than the other options available.

0 Votes

Quote from @Desiree Alvarez:

Because people are all told “you can get into real estate with no money!” Then they get something under contract, have a buyer all set up but no money! It’s better to have part of something than all of nothing. If you’re about to make $10+ thousand dollars and have no emd money, wouldn’t you have someone lend it to you for a fee then miss out on all of that money? Even if you give $5k to earn $10k wouldn’t that be worth it? To some people, it is!

Well said, Desiree.
Gator lending is secured by contracts that say that if the buyer doesn’t come through, then the gator gets the EMD back.
The gator is paid back with part of the assignment fee that the wholesaler is going to profit. Say the wholesaler will profit $10k for assigning the contract to a buyer, and needs $2k EMD, then the gator will pay the EMD to the title company, and it is written in the contracts to the title company that the gator will get a profit of $1k, and their $2k will be returned to them.
Then the wholesaler gets a $9k profit from the assignment instead of a $10k profit.

4 Votes

Austin, Texas

I love all these responses! Thanks to everyone for your input! Now I have to go crunch some numbers and see what my tax implications will be if I will transfer my 401k from my previous employer into a solo 401k or SDIRA, or convert it to a Roth in order to use it to invest in a syndication.

0 Votes

I couldn't find the BP app on my iphone either, and I have been getting on the site less than before, for sure. Bummer to hear that the app still works on android phones, tho. I'd love to hear when the app gets re-introduced for iphones.

2 Votes

@Justin Pace

Oops I spelled his name wrong. No wonder the link didn’t work

@Zack Karp is the correct spelling

1 Vote

@Justin Pace

I just talked to a lender here on BP and he was a huge help with the lending questions I had for the investor side of things.

He could probably help you out with your question as well.

@Zach Karp is his name.

1 Vote

@Steve Stinson

Bummer, I don’t have a subscription to WSJ, so I can’t read the article. It does sound like it would be a good article, tho.

0 Votes

Huntsville, Alabama

@Diana Bik Boeck

Last year I used the Airbnb platform to contact some hosts to see if they wanted to use my services for local property management, and then Airbnb blocked me. They don’t make it easy for hosts to find small time operators to help with the requirement that a PM be available within 30 minutes, unfortunately.

0 Votes

All Forum Posts by: Cheryl Vargas

Cheryl Vargas has started 4 posts and replied 295 times.

Post: Gator Lending? Why? 🐊

Post: Seeking feedback from anyone on BiggerPockets who is in this program.

Post: Timeshare Vacation Rentals

Post: Gator Lending? Why? 🐊

Post: IRA Custodian & RE Syndication

Post: Bigger Pockets iPhone App

Post: Financing Properties with Personal Residence in Mind

Post: Financing Properties with Personal Residence in Mind

Post: Huntsville named one of country’s Top 10 Emerging Housing Markets

Post: Bad experience with Vacasa property management