All Forum Posts by: Chris Armstrong

@Jeffrey Stasz @Russ Scheider @Buddy Holmes

Thanks for the advice! I have used Weeks before for my personal residence and I had a smooth closing with no delays. I appreciate the feedback 

BP 

Investors in Charleston SC! I need your input to find the best closing team possible. I have been through this dance a few times and time and time again I am being frustrated by incompetence, failure to close on time, errors in closing disclosures and a few other things. If you have had STELLAR experiences with a closing attorney, a finance guy, a title company etc please let me know what your recommendations are below. Thanks again. If you would like me to let you know who not to use then please PM me. Thanks again! 

The beautiful thing about buying or selling a house is that if you understand contracts well enough and know the process at all you really dont need an agent. Thant being said, 99% of people do not feel comfortable without one. I have used several different agents in the past, but now, I am getting my license to buy my own properties and help investors find the best deals. You would be surprised how many agents have shown me what they thought was a good deal.....only to find out after looking myself, that it was a steaming pile of crap. 

@Christopher Canning

Welcome, lots to learn here and lots of experienced people on here. I like that you want the orange tree instead of the orange. That mentality will take you far. Its a slow play but a worth while one. Reach out if you ever need anything

@Sarah Bojorquez

Funny that this thread is trending right now. I am a new investor relative to others in this forum, I have 4 properties and I have been working diligently at this for about 1.5 years now. I am starting real estate classes to get my license on Monday Aug 28 and I plan to work as an agent part time for the first year or so until my corporate job obligations are done. At that point I will more than likely transition into RE full time. 

I feel that if you are passionate about RE then its a simple answer, yes, because passionate people want to learn as much as possible about the subject matter. I feel like I have learned a lot from doing what I have done already, but the more you learn the more you realize you do not know. That being said I AM PUMPED to get rolling in that field which is night and day different than being a research chemist in synthesis and applications. 

Just my $0.02

Also, I would love to connect with folks who have made the transition into RE full time from a corporate job and started selling houses as agents. PM me pr respond to this thread. 

@John Woodrich

So in my case specifically I am using short term rentals to pay down loans and very quickly build equity in the properties. I will have 4 paid for within 4 years. Then  I will then use them for Lines of credit and 1031 exchange to get into more units. You just have to be smart about it. Ride the wave while it lasts and then plant the orchard. Domino effect, snowballing, whatever you want to call it. I dont take 1$ from my properties until I hit my goal  minimum $20k per month passive income and 15-20 paid off units plus a slew of others.  

4 is a managable number for most people to get into if they are determined and disciplined. once these are paid for I will have nearly 1 million dollars to snowball into the next set of properties, most likely a small apartment complexes 25-50 units. 

Simple for me to answer according to my belief and goals. 

Would you rather have an orange or the tree that continually gives you oranges? 

For me, I want the orange tree, in fact I want a damn orchard full of orange trees. I don't like single use transactions  too much and I want to make money while I sleep. So for me rentals all day long. 

@Account Closed 

Just to set the record straight. It was not just Thomas who sent me into the melt down but rather the large amount of people who continuously try to shut out the little guy. I constantly see people who are vehemently opposed to smaller entities making a profit. I get so sick of it also because this is a capitalistic society in which we live and for the most part people love capitalism....until it threatens their existence or their operations. No one likes government intervention (prohibitive regulations) for the most part while they are building themselves up, but once they are up an running the idea of a threat from a disruptive technology has people crying and claiming it isn't fair the little guys can do this or that. We let me just tell you that life isn't fair. The thing that sets apart winners from cry baby losers are those who find a way to make it work and hustle hard every day to build their empire. Its really sad that some people don't see the beauty in that either. By taking the chance away from the little guy you are crushing capitalism. End rant 

@Tim Daniels

@Tim Daniels

@Troy Gandee did you all purchase the craftsman style house in park circle off of Pittman street with the detached garage unit behind it? It was on the market for a total of like 1 day before it had an offer. I believe it was listed for 135k. 

@Jason Reed 

I appreciate the comment but before you go casting stones around here make sure you have the correct context of the situation and conversation. Seems like we lost you in the fine print, which, in your area of expertise is really important.  

@Thomas S.

You are wrong and how do you feel you have the authority to say that? Stay in Canada with your negativity.  Your points are not even close to being valid. I own several units in a condo complex that are airbnb rentals and our properties are the best in the neighborhood. Actually, people started improving their properties as a result of ours and now property values have begun to rise across the whole neighborhood. 

They have many positive impacts on areas that would normally not have tourism, so again, you are wrong on the negative impacts on neighborhoods. This is all contingent on owners being responsible on not renting to just everyone. 

Lastly, not just anyone has the funds to buy a hotel, so thats not going to work either, I feel that you have some interest in the hotel business and you lobby against it because you feel threatened that there might be a better option out there than your hotel. Like it was mentioned earlier in the post, if you are worried about competition then step your game up and give the consumer the best option or shut up and stop complaining.