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All Forum Posts by: Deneuve Brutus

Deneuve Brutus has started 12 posts and replied 147 times.

Post: Investors who have a W2...Are you still investing in a 401k?

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

@Blake Edwards Once I build my portfolio, I will absolutely drop my numbers down and focus on hedging my risks with other wealth building ventures such as a franchise.

Post: How important is a bachelors degree as a real estate investor?

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

@Nicholas Brady

Welcome to the community! You can absolutely be successful without a college degree. I've pursued an MBA. I've graduated from a few incubators and founded a few startups. You sounds like an entrepreneur at heart. You want freedom, you may not know what that means to you. Yet, the word stirs motivation in you. If that sounds right read-on!

A college degree may do jack squat for your long term goal as an entrepreneur. Its an excellent accomplishment and if you're looking to have a 9-5 running someone else's business, go for it. With today's tech you can get a microdegree or a business cert or attend incubators, the later being best because you gain knowledge and experience that you may not get depending on your college program.

Based on my experience:

I would go to school use the student loans to build a rental portfolio, house hacking a residential multifamily every year near the school, rent rooms to students. It works because you essentially get an low-interest-only loan to contribute towards a down payment. Since your a business major you get access to the faculty who has a wealth of knowledge, use them as business mentors. You'd also be a student so you can relate/know to you're customers and market through your property manager, HUGE competitive advantage. There are ample landlords who rents to students you can find a mentor that way as well.

P.S.

I learned all that without an MBA, by reading books, running startups, meetups, and attending incubators. I will disclose it took me over 10 years to get a B.S. in Computer Engineering because I didn't realize what I was really after was freedom and a degree wasn't going to do it for me. I did learn a lot about computers and electronics. Good luck with your journey!

Post: Investors who have a W2...Are you still investing in a 401k?

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

I'm maxing out since I haven't a substantial portfolio yet (under 10 properties). I still have to personally guarantee the loans I've applied for so far, it helps to have the maximum amount.

Post: Asset Based Lenders - What are my Options?

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

@Matthew John

I'm certainly interested in hearing the feedback.

Post: Can you invest with as little as $10k

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

@Andrew Moullin

Happy to help! There were some typos in there due to auto correct. I'll edit them.

Post: Can you invest with as little as $10k

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

@Marduk Mooshoolzadeh

I was recently in a very similar situation. You have taken an excellent first step, that is too acknowledge that you don't know what you don't know. We have all been there. You're simply more of a planner. Don't let that stop you from:

Learning how to analyze deals

Making a list of your short them & long term real estate goals

Listen to the BP Podcasts

Assess your financial situation (is your Debt to income ratio to high, is it a Good ideas to start investing? Do you have a great credit score to get loans)

How will you aquire property?

Which market (With 10k, you may have to leave LA and do Arkansas for example)

Are there properties I can purchase for less than $5-$7k down, will the remainder cover everything else?

Can I partner with someone?

Like you I joined BP to learn and in my case I used the 10k to pay off a personal loan to decrease my DTI and increase my monthly meet income, providing a greater cushion to invest.

Action items for you:

Listen to all BP podcasts & take notes.

Read the books mentioned by the hosts and guests ( Hoopla let's you borrow ebooks from a local library, gratis - use this because your taxes are paying for it)

Write down your goals and read them regularly

Added finances

Choose a real estimate investment strategy

Find a market that supports that strategy

Analyze at least 50 deals in that market

Re-evaluate your goals and strategy

Meanwhile your attending Real Estate Investment Association (REIA) meetups and networking, building your core four (RE Agent, Property Manager, General Contractor, Loan Broker/Banking/Lenders)

There are more but I think this novel is a good starting point, let us know if you have any questions.

Post: MULTI USE BUILDING IN HOBOKEN NJ

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

@Alessandro Cardito

Ah okay, a downturn is something to keep in mind before a closing deal, especially in those price ranges.

Post: MULTI USE BUILDING IN HOBOKEN NJ

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

@Johnny Lopes

I agree as a prospective renter/investor to the area, the main reason I'm looking to move to Hoboken is it's proximity to Manhattan.

I was speaking with a friend who lived there for a few years he said watch out for the bad parts of Hoboken. My question is where are those so called "bad parts"? The city seems pretty well organized from my casual observations.

@Alessandro Cardito

If you wouldn't mind me asking other than Zillow where/what/why else is the city declining? I've simply been passively observing the area on the MLS. I would like to prove myself wrong before uprooting my family to Hoboken.

Post: Pay Off Student Debt or Invest While Paying it Down?

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

Hey @Jeff Byrne, I'm in the same position. What you do depends on how quickly you want to get to your goals. You can enroll in graduate school go half time that will defer payments, that money could be used towards investing as well if you do not enroll. Your also in a unique situation. You have a year after graduation to begin making payments. Your market is booming and you have a mentor!

My solution get a part-time w2, do a payment plan based on income after the year is up while paying interest on the student loans. House hack if you can, while working with your mentor to build your portfolio. The passive income/self employment allows for extra options for your student loans as well. Also, I suggest you call the loan provider to ask about self-employed options and no income options as well.

Hope that helps. Good luck!

Post: What's your financial freedom #?

Deneuve BrutusPosted
  • Investor
  • Woodbridge, VA
  • Posts 162
  • Votes 64

Goal: $5000/mth

My goal number covers my lifestyle. It is more than enough to cover my expenses and savings. It's also the number my financial advisor calculated after we talked about a lifestyle after retiring. It's actually around $2300 after I handle my liabilities.