All Forum Posts by: Craig Anderson

To the BP management team and all the followers, 

I just want to thank you for all of the great resources that BP provides.  I really enjoy the webinars, podcasts, blogs, and forums that BP provides for their community.  I especially appreciate how BP doesn't try to upsell us anything.

I've been researching other ways for passive income, and they are all the same.  They give a tidbit of information then give you a $15,000 deal for ONLY 4 easy payments of $300 (I'm making up random numbers to make a point).  The biggest culprit seems to be Rich Dad, Poor Dad website and their influx of emails to join some type of coaching program.  I've learned that they are all the same and after the same passive income which is selling their programs.  And, they are never actual live events, they are all pre-recorded, but they try to play it off as "live".  All of the gurus and people selling their programs are the same.

So again, THANK YOU BP for your sincerity of actually helping investors in their pursuits without all of the upselling of products.  People can learn so much via podcasts, real webinars, books and joining groups (ie real estate investing, millionaire clubs, etc) without having to pay crazy amounts of money to learn.  Unfortunately, too many people want to take shortcuts and jump to the front of the line.  Patience and learning is the key to long-term success.  

Thanks again BP!

Hi there, 

If you're not doing a BRRRR on any of the houses, and they are ready to rent, then I would just use the "Rental Calculator". Then, use the numbers for the rentals that you are renting out for the property. I also run the scenario for when I move out, and renting all properties. This gives you great snapshot of what to expect for cash flow and ROI.

Another reason that I'm leaving Cali, and not investing in California.

Hey Luis, I'm sure you've heard this before, but all investors need to take time to learn through books, podcasts, webinars, etc.  Most of this is free or very little cost.  Invest in yourself now, intern with investors, get a job within the real estate world, and it will pay off in the future.

In my opinion, the backyard should have the same "curb appeal" as your front yard.  You want tenants to feel comfortable to be able to have nice use of the backyard.  I know from experience as a renter and owner that a backyard is a nice place to relax, have bbqs with friends, and other aspects of feeling comfortable at home.  This could be a nice patio area with a little bit of yard, or it can be an open space with grass and easy to maintain plants.  Think about what you would want in a backyard for all-purpose use and easy maintenance.

My top four recommendations:

"How to Invest in Real Estate: The Ultimate Beginner's Guide" By Brandon Turner

"Rich Dad, Poor Dad" By Robert Kiyosaki

"BRRRR Strategy Made Easy" By David Greene

"The Richest Man in Babylon" by George Clason

I would read them in this order, but feel free to read in any order that you want.  Then expand your reading from there depending on what you need to learn or want to learn more about for investing and passive income.

Good luck in your journey!

Sounds like a great BRRRR.

Hey Michael, it sounds like you have the plan, now you just have to execute it when the time is right for your life. Not having the funds, you can still invest in yourself by reading books on real estate, investing, and financial planning/accounting.  Also, you can continue to listen to podcasts, webinars and YouTube.

With all of that, since you're a realtor, you can promote yourself, network, and possibly partner with a flipper. You put in the time to find the homes, research, analyze and make the deals, and your partner can fund the deals or be the flipper.  Then, you can split 50/50 or whatever arrangement works.  They are other areas that you can invest your time in and bring value to a partnership with having little to no funds to get your plan in action.

Good luck!

Congrats!

I'm just suggesting options for having a low down payment.  However, if you think about it differently, then you can see more opportunities. 

You stated that you live at your grandparents place for extremely low rent.  What if you could live rent free or cash flowing while you live in your home?  This can happen when you house hack.  Or, you could be living for extremely low rent with a low down payment. Imagine if you got a home for 3% down, rented a room or two (or if it was a duplex/tri-plex), in your home.  The tenants pay your mortgage or most of your mortgage in a home that you own. Then, in a year, you move out or back to your grandparents house, and you are now making even more money because you are renting out the room that you were in for the last year.

There are so many options with investing, you just to choose what works best for your situation.

Good luck.