All Forum Posts by: Devan Mcclish

@Brent Seehusen

 just to add about anything that might come up in the future. the neighbor could ultimately sue you, and you would have to demolish the driveway to get it off their land

@Brent Seehusen

 two things you can do here,

1. ask for a survey to either be completed or one that was previously completed. On a small parcel like that it should not cost too much. and delay the contract until close.

2. If they do not agree to the survey, I would walk away and claim that you should get your earnest money back. You should get it back because "time is of the essence" in EVERY contract no matter if the language is in it. I am no attorney so check your states laws, but in my state. EVERYTHING that is adverse to the buyer, such as enroaching driveways, needs to be disclosed to the buyer in a timely manner. 

1. @Randy E. I would have to completely agree with you. I don't think toyin bought the properties right or that agent he spoke with. Sure if you pay retail for something in a bad area you're not going to make money off of it. Maybe instead of buying 30 units that were not making money, he should have made his criteria stricter.  You also build wealth faster with buy and hold. He claims that it would take 22 years to make 40k. First of all of you bought at 2% of purchase price that means you pay the asset off in 50 months or just over 4 years doubling your cash flow. I would like to hear your explanation for how ken McElroy and grant Cardon have amassed fortunes in buying and holding and then explain to everyone how buy and hold doesn't work

@DaVon Brooks send me a message and I will send you the purchase and sale agreement we use with all technical language that you need

The best one on one coaching is the bigger pockets podcasts

@Shannon Webb it doesn't matter how knowledgeable you are right now. It's all about who you know. Get out there and get to know people. Ask questions and interact with people on a CONSISTENT basis. Meaning you should follow up with people. Listen to all the podcasts and read a few books and you will learn quickly

@Shannon Webb to get started figure out what you want to do. If you want to start in multifamily then start there. Yes, you have little money but if you find a good deal the money will come every time. 1st thing you need to do is build a network of people, other investors, contractors, attorneys, people that will help you on your journey. Next thing is develop a lead generation system. So figure out how you're going to get leads (letters, agents). Once you do that start interacting with sellers and making offers. If you can't afford them, wholesale the deals to other investors that you meet on bp and in your area. I learn something new every time i sit down with another investor. Join your local REIA. Get your name out there

@Corey Johnson welcome to bp and the nashville market!

@Jon Dow You don't need seminars. Listen to ALL of the bigger pockets podcasts and you will learn as much as you will learn in those seminars. Best way to learn is to do. Take action! Best way to learn how to wholesale a contract is to send out mailers, talk to owners, put properties under contract, and sell them to buyers. Read every book you can get your hands on. I attended one seminar for CT Homes, they always try to get you to pay for the next boot camp. I learned more by reading all of the rich dad series, listening to the podcasts then I did in the boot camp. Go out and meet an investor per week in your area. What I mean by that is take them to coffee and pick their brains. You will learn more by doing that than in a seminar, and it's one on one, not 100 people in a room where you cannot ask a single question.  

@Maureen Healy one option is owner financing. Ask the owner to carry the mortgage for the property. It's just like bank financing but better terms. You can sometimes get owner financing with no interest. You can even put your 5k down if they ask for a down payment. If they still own a mortgage on the property then wrap the existing mortgage with a seller note