All Forum Posts by: Chris John

I love the way you phrased this.  I've tried to express this general idea to people, but could never articulate it properly.  I'll be stealing this phrasing from now on.  Great stuff as always, Carlos.  Thanks!

@James Wise

That's the stuff!  haha.

@James Wise

With a conversion rate well under half of the others on that list, you might want to hit up Mike Dymski for help closing more of your posts into votes.  Gotta work smarter not harder, bro, and a mentor can help you get there.

Sadly, the link for Mr. Dymski isn't working, so I'll try this even though I don't think it will work.

https://www.biggerpockets.com/users/miked75

I'm not on BP as much as I used to be because, honestly, I feel like easy deals have dried up.  I'll leave the real work to professionals, so I'm kinda dormant and waiting for economic situations to cycle through so that I can find easy deals again.

However, I do remember several, several threads on BP a couple of years ago arguing syndications vs. doing the work yourself.  It's sad to see so many of these threads after looking through BP today, but it was totally expected based on the insanely low rates a couple of years ago and realizing how commercial lending works.

It's a bummer, but there's no such thing as passive investing and there's no alternative to digging into a situation and understanding it for yourself.

I logged in just to like this post.  Excellent advice and very well stated, imo.

I have some really good candidates for ADUs in California. Older homes on big lots in rental neighborhoods. When I ran the numbers, I ended up buying 4plexes in Jacksonville instead. Each pile of $200k got me 25% down and some money towards renovations on two 4plexes generating $8800/mo instead of one ADU generating $1800. I was also able to acquire $750k of real estate using leverage (now worth $1M).

Another great point is that this happened in 2020/2021.  If you're not already extremely well connected, buy some index funds (or the next Nvidia - maybe the current Nvidia still?  No idea...) or park your money in a money market fund.  Real estate is too much work to not be getting absolutely killer deals (and there's not that many available right now).

@James Hamling

I can't argue with a word!  haha.  I used to get frustrated, but instead I just tell my kids how easy the race will be for them since so few are running it.  Along the lines of Joshua 24:15, "as for me and my house, we will continue to work."  Well, and, more importantly, follow the Lord, but this is a real estate website, so...

@Nicholas Foy

I have no idea if it's an L or not, but if it is, I appreciate your ability to recognize it, own it, and move on.  That unvarnished ability to recognize a situation seems rare in this ever hopeful world where everyone seems like they'd rather complain and justify instead of accept, learn, and move on. 

Having said all this, make sure it's actually an L before you sell.  It takes a long time of losing a little bit of money every month to get to 25k. If you hold on long enough, you might come good through inflation alone. 

Best wishes

I have no idea what the $600 course is, but I can definitely say that buying Kiyosaki's "Rich Dad, Poor Dad", the "Cashflow 101" board game, and "On the Road with Robert Kiyosaki" were three of the best financial decisions I've ever made and have paid for themselves many times over.

Then, coming across Bigger Pockets during coronavirus and realizing that money was about to be devalued in a major way was also a personal game changer.  I'm so thankful that I locked in all of that debt at historically low, fixed rates.

Sincerely, I'm beyond thankful to Kiyosaki and Bigger Pockets as they've changed the arc of my family's financial situation.  I'm just sorry that not everyone has had the same experience.

@Eric Fernwood

I wish I could like your post 100 times.  You have absolutely nailed what an investor agent should be bringing to the table.  Congratulations on all of the well deserved success that I imagine you are having!