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All Forum Posts by: Neil Schoepp

Neil Schoepp has started 19 posts and replied 388 times.

Post: Brand New investor, credit is crap, what are my steps?

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

@Brian Auman

Congrats on taking the first step to financial Independence. The first step is to make sure your financial house is in order. So boosting your credit score, having an emergency fund, living within your means so that you can save in a separate account 10% of your earnings more is obviously better. Do not carry credit card debt, car debt, personal loan debt etc. 

Once your financial house is in order then you can start investing. 

Where will you be investing? Start learning that market inside and out. The first R in BRRRR stands for rehab. Start getting familiar with rehab prices. Will you take on a light medium or heavy lift. If you are going to invest local then start touring properties get a feel for the market. How much does a dollar buy in your market? What finishes are being supplied? Pay attention to paint colors room flow and layout, landscaping, etc. Follow the properties you tour from asking price all the way to selling price and how long they were on the market. Understand the difference between a 3/2 and a 3/2/2. Be able to answer what a 3/2 1500sqft home will rent for as well as what it's ARV is. Get to know your market inside and out block by block. Build your database. Do all of this side by side with getting your financial house in order. As you start doing all these things more questions will arise, just keep asking lots of great people here will have guidance for you.

Be Unstoppable!  

Post: Just another question on Coaching- 20k for 2 years

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

@Manmath D.

Good for you doing your due diligence. In full disclosure I am a Jake and Gino student so you will get a first hand account. I'll tell you my story and let you decide. 

I was born and raised in NYC, so I saw first hand the shell game being played on the streets and how scams were ran. It was a way of life, something you always kept an eye out for. If it seemed to good it was. Then I became a NYPD Officer and then a City Fireman. This just proved to me (especially being a cop) how evil some people were. In short I had a lot of limited beliefs and a very tall very thick wall around me.

I investigated Gino through emails, post like yours and even taking a ride up to his restaurant about an hour north of the city. Everyone I spoke to spoke highly of him. Almost to kindly. Then they held their first event in Knoxville and I flew out to meet him in person. He made time to speak with everyone. There was just something in his way and in Jake's that sold me. It's hard to describe but after dealing with so many criminals you kinda get a feel for people. These guys were legit!

I continued to follow them and ask questions they always responded in a genuine helpful manner.

I once was down in Florida and just shot off a quick message to see if Gino was available to meet and to my surprise he was. That was when he shattered all my limited beliefs he introduced me to mindset and I was off to the races. He got me focused and led me in the right direction. If not for him and the entire WBP program I would not be where I am today.

The academy is amazing. It brings you from knowing nothing to having a solid foundation. The depth of knowledge you will gain access to is amazing. Choosing a market, Interviewing a PM, learning the basics of underwriting, interviewing a lender, forming partnerships it's all covered. Mindset, worksheets for picking a market, monitoring your time scheduling your week all covered.  Monday calls are the best it's a live group call with a topic covered and then a question and answer portion at the end. Every question is addressed each and every week. 

  The group is more like a family then a group. It's amazing how everyone, staff and students are extremely helpful. Questions get answered, recommendations for brokers, lenders, PM's are given freely. MF is a team sport. If I don't have an answer I have access to the information just by asking. Now I can just pick up the phone as I have built out many solid relationships with very knowledgeable investors. They also hold money mixers and bootcamps where you can get to meet those members that you have been chatting with online and over the phone. This is where you can really excel your network. If you are visiting an area just shoot out a post someone is bound to be able to meetup with you while you are in town. Students are closing deals all the time. Both in syndication and on their own. 

So the bottom line is this: Is everything I have access to worth 20K. By now I'm sure you can guess my answer. It is yes. Just the mindset growth I have taken is worth the 20K. The friendships I cannot put a price tag on. The key is that when you join the group you MUST take action and get involved. 

To your success

Neil

P.S  Just one last quick story to give you an idea of who Gino is. 

This pass November my father passed away and through conversation with a third party Gino found out. How many "Gurus" actually care that much to take a few moments and write a handwritten note of sympathy. Gino is the real deal plain and simple.

Please feel free to reach out to me if you have any other questions.

Post: Pike County, PA Multifamily Meetup

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

Come discuss Multifamily Real Estate. 

Learn how you can successfully operate a real estate business from out of state.

Though there is no fee and it is not required we ask that you purchase a meal / dessert / appetizer from the restaurant.

Post: San Souci South Carolina Path of Progress

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

@Harris Jones

Thanks for the information. It was actually very helpful. 

The Next time I am in town I will be sure to stop by the meeting.

I'm seeing the progress coming out of Greenville but stopping at Peter Hollis and Poinsette Hwy.

San Souci has been flat since 2000.

If I can ever add value to you please don't hesitate to reach out. Even if it's a "beginner" question.

Post: Meet like-minded locals for out of state multi-unit investing

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

Allen, absolutely I have most of Thurs and Friday open. Shoot me a DM.

Post: Meet like-minded locals for out of state multi-unit investing

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

Allen I can offer insight into SC if you would like to discuss it please feel free to reach out.

Post: How To Analyze a Large Multifamily Deal !

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

@Jason Yarusi

Is the time of the event correct. 0500hrs (5am). 

Post: Multifamily Foundation One Day Workshop

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

Jason, This is teeing up to be a great day! Thanks for taking the time to put it together and for always adding the value. 

I will be there, at 59 this is a steal guys jump on board. This isn't a pitch fest Jason knows his stuff his meetup continuously adds value. 

Looking forward to seeing everyone next Saturday, if you see me please stop and say hello.


Be Unstoppable. 

Post: Mentorship in becoming r.e. investor

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299

@Dion McRae

Meeting mentors is about putting yourself out there. Like you are doing now, but more frequently. 

First start building your foundation. Be able to carry on a conversation. So if I asked you what type of property resonates with you most? and why? what is your answer?

Know the basics NOI, Cap Rate, how the NOI and Cap rate relate to each other, Per door, per pad, know what cash flow is, COC.

Know the difference between opex and capex. Know the difference between a MF with 4 doors and one with 5 doors.

If you are unsure of what they mean the search feature of biggerpockets is your friend. I could easily tell you but when you search it out yourself and read a few examples from different people it sticks a lot better.

As you are doing that find meetups to attend. Go and talk with the people there. In short order you will see who the real investors are from the tire kickers. Listen to what they need, then find a way to make that happen and give it to them. Ask them open ended questions. If you knew then what you know now what would you do different to propel yourself to success. 

Then do what he tells you. Then the next time you see him let him let him know this is what you told me to do, I did it, this is what I learned, what's next? Then repeat the process.

Keep one thing in mind. Successful people WANT to help you. But they DO NOT want to waste their time. If they suggest a book, or to implement a system like call one new broker a day for a week, or to attend a different meetup every week, whatever it is SHOW (action always speaks louder then words) them you are serious by doing it. Don't be a tire kicker and waste their time.

Where in PA are you? There are some meetups in the northeast I know about. 

Be Unstoppable

Post: Any real estate investors in Greenville, SC?

Neil SchoeppPosted
  • Real Estate Investor
  • Milford, PA
  • Posts 395
  • Votes 299