All Forum Posts by: Clarence Swift

 So i started off on the program focused on building houses. Later i found out I actually wanted the class focused on building apartments.   Because I had already purchased  the house building courses I got a nice  discount  on thw course I wanted.  Since thw course upgrade I have entitled and acre  to have 24 apartments units on it.   I learned the entire process of entitlement from jerome.  Entitlement is the process of getting municipality authorization  to build a specific  structure  on a specific peace of land for a particular  reason.  Once entitled( with it is)I can now sell the land I bought for 55k for several hundred dollars and if a get building permits  I can sell for substantially  higher. I will build the 24units though.   If money is an issue I would tell you to take the course that is about building and flipping houses.  The course is not expensive.   If your credit ****** you need to hit up creditrepair.com or some other credit repair  company  and work on getting yp to about a 680 or more with you learning  from jerome.   While you building your score you will be looking for land to buld a home on and jerome will be telling you how to go about finding best location to buld the house the best criteria  to use to pick that locTion and thw price point you want to pay. This is called underwriting.   So you will work on your credit while learning to underwrite deals.  By time your credit is straight  you should be a master at underwriting and have identified  a few properties  ypu think are suitable.  If you got your credit decent you can start soft shopping for conventional/fha home loans if you didnt do so well improving  your credit this is where you start looking for private  lenders, partners and investors. Luckily you will be in a class and larger group of investors and future investors looking for a good deal to participate in.  If you are strapped for cash  this is a great place to bring a good deal and get it funded.    I said all that to say this its several folk in both classes that have spent money and time and will get nothing out of it . Its also several folks that spent their money and have become  successful  at building houses and apartments and entitling land. It just a matter of learning the info and doing the leg work of going out finding and talking to the people you need to talk to and emplimenting what you have learned. The hardest part is finding the right people  to talk to i.e sellers, lenders, contractors, and not stopping until you find them the rest will fall into place because you have thw info in your head and a mentor(jerome) that will guide you when you get your deal rolling. I hope that helps some.  

 I enrolled  in his course  this time last year. Since then I've bought two apartment complexes and will be building additional units on them using knowledge  and processes learned for Jerome and his colleagues. If you are worried about the price then the program isn't for you  but just consider you spend 4 years and about 50 to 100k+ to get a degree that pays you around 75k. This training can make you a multi millionaire  at best or put 50 to 100k+ in your pocket every year part time.  The house build  course is pretty straight forward  and walks you like a baby through  every step from finding the land and entitling it to building and selling. The multi family course  is a bit more complicated  and costly but it's worth it price too.  These are pics from the build wealth summit the tickets  were 8 dollars in Vegas.  And no I'm not a team member  of Jerome. I'm a black country boy from tuskegee alabama  that don't mind promoting someone  that actually has a course and community  of investors  that's worth much more then the money you will pay for a course

so let's talk about the 70 percent rule. First you should consider the market you are in and if it is a buyers or sellers market. After determining  that you can then decide if you want to use 70% arv.  as your bench mark or use a higher or lower percent.  Next  comps or have your realtor  determine  the Arv. Of the property. I tend to use a realtor  so when talking to potential  seller I have professional  info to give. From there you subtract repair cost . The figure you come up with is the  your maxium allowable offer.   The 70% rules assumes that the 30percent  will be your profit. Closing cost and holding cost should not be used in determining  mao using 70% rule.