All Forum Posts by: Phillip Joo

HI BP, I was at a Financial College meeting with a man I've met twice. Everything was about college, until he asked, "Do you want to go to college?" I answered, saying that I knew it was a terrible investment that Im making, but there was nothing I could do about it. Then we started talking about how the only way to become "Successful" and "Financially Free" was through college. Knowing this wasn't true, I kept listening, he talked about how people would respect Investors and most likely invest in them if and ONLY IF they attended a good college. Respectully, I told him that I had a plan, and a vision that told me that the only way I would successful and/or financially free was through Real Estate. He then told me that I should go to college and deal with it until my third year, where I should transfer to University of California, Berkeley. THEN after that, people would start wanting to invest with me.

The point is, is that I knew that college has had no effect on the successful REE around me. The only thing I'm lacking is capital. Do I need to have a college degree in order to make it in Real Estate? Will people treat me differently if I were to graduate a college?

Do keep in mind that I live in Southern California.

Hello, 

Im working on a ranch with my next door neighbor, who is an expert in Real Estate Investing, and when we got to the property there was a lot of "junk" and excess wood, etc. I was given the job to create a project report. Do any of you have a sample report of what it should look like? I want to make it as organized and simple as possible. 

Thank you

How do I find the "team". By team, I mean a contractor, lawyer, inspector, etc. How? I know that it will take a while to go through people and see who has the best performance. But its a little confusing on how people build a dream team. Do I go to local Real Estate Investor clubs? Facebook them?, or go out to Home Depot or something and sit and wait for someone that looks like a contractor to show up? haha, On a serious note, what is the most effective way to find people? What kind of people should I be looking for? What age? 

Thanks!

-Phillip Joo

@Nick Stango Thank you so much for the advice!

Hi, I signed up for a seminar in Ontario, CA with speaker Than Merrill. I got the idea to do so from a TV. commercial . Of course the interviews shown on TV. are fake. Its a no brainier that there are countless scammers in the world and I'm wondering if Than Merrill is one of them. Is he legit or is he just full of himself like most TV. commercial people. 

I live in Corona, CA and I was wondering whether it is a smart idea to join a public investing group. On the poster, it stated that new learners are wanted. Is this a good idea? considering that most sucessful Real Estate Investors are self-taught? If anyone from Corona knows what I am talking about, please tell me what they're about. Thank you!

- Phillip Joo

Which bank in California is best to start out in Real Estate Investing. So far, I know that Bank of America is the least attracted, because they only help you out when the economy is high, and not when it's low. So what is the best bank to use?

I recently got a debit card from Bank of America, but not by will, since I am still in my parent's control, they've stuck me with Bank of America. I hear that Wells Fargo is a good bank to use... but why? 

Someone mentioned that using private banks or lenders is the best route to go...

I would like to believe that once I've chosen a bank, I would stick with it all throughout my Real Estate Career. 

From recently heard fossils, Bank of America is the worst bank to take a loan from, especially during the recession. So then which bank is best? Or is Private Investors a good route to go? 

Melissa! Thanks so much for the advice! When I officially get into RE Investing, i'll make sure to follow your advice

Hi again,

I currently live in Corona,CA. I am still living under my parent's care, mainly because I'm still a minor. Recently, my neighbor put his house up for sale and I'm wondering if I could take a loan from Bank of America. I had a little vision of where I took a loan from B-of-A and bought it for a discount. (Assuming that they were motivated sellers [Their son ownes several  wiener schnitzels around Inland Empire]). anyways, I purchased the property and it was in normal condition. I still renovated the backyard, carpet, and painted the walls. I bought it for $375,000 with a $380,000 loan and took another loan from a private lender of $10,000 to pay for the renovations. I then sold it for $430,000. Again, this was just a dream so of course there are many flaws in this dream. 

My question is; How old do I have to be in order to take a loan from a Bank? Would it be possible to take a big loan, and fix and flip the house?