All Forum Posts by: Derrick Thomas

Basically a property where you owe more than it's worth. It's talked about a lot in real estate because you can often find good deals because they're sold for how much it's worth rather than the cost of the mortgage.

I'm with @Cody L. on this one. Securing the seed capital in commercial tends to be easier and you can scale it much better. I'm not sure I'd start off with a big unit but working your way up will help you get where you want to be.

I agree with @Andrew Johnson and @James Carlson on this one. I think if you're located somewhere like NYC (except not actually because it's mostly illegal) where there's constant demand, then yeah go for it. But if it's somewhere more seasonal (say a college town), I don't think you can rely on hitting utilization targets without making a huge risk.

I agree with @Ray Lai on this one. While I don't have a pro account so I can't access the mentors, I think that just the nature that there is a group of people out there really contributing to this community as part of their daily lives and investing in it makes a huge difference. I've been meeting a lot more people and getting some great feedback in DMs with people from BP on things like finding seed capital that I don't think I could really pull away from the Quora community.

@Hank Wu personally I picked up yoga after I started investing. It's absolutely something that gets to you and sometime you need to pick up something else to be able to deal with it. Don't give up on your dreams because of some stress, stay with it!

@Steve B. now is that what you think I told the property owner or is that what I told @Tracy D. after she tries to belittle what I'm going through. Maybe give you should do what @Tracy D. said and "look at yourself"

@Anthony Gayden appreciate the encouragement. Maybe this was more of a one-off occurrence and that I should stay hopeful that my success will be all based on my merit and hard work. I'd love to hear from you if you've personally experienced any of this or if it's just been a very small minority in your experiences.

@Ryan Murdock you make a good point, getting lending is tough and I've definitely seen that. The thing that's been bothering me more is whether some of the bid or ask prices when I come face to face with an owner or investor is a truly unbiased price or whether I am being hurt. And even if it hasn't it just leaves me wondering so I'm just trying to see what others have been experiencing. Appreciate you sharing!

@Charles A Guilford appreciate the perspective. I think you're right on with this. Had to do a bit of urban dictionary on HNIC to see what you meant haha. 

A valid point, but maybe you should check your privilege before you try to belittle an issue that's very real and something I've dealt with for most of my life. 

I've seen the word guru tossed around a lot but what does it mean in this community? Does it mean you completed a lot of deals? Secured a lot of seed capital funding? Made a lot of profit? Or is it just years of experience, different markets you've been it. For all the self-proclaimed gurus out here give me your definition, I'm interested to hear it.

Getting started in the Atlanta market and want to know what success you guys have been seeing with securing properties and what local banks you used for seed capital on your company.