All Forum Posts by: Dmitri L.

 Very good point Zach!

One of the best things to do when considering the two strategies is put together the "cash flows" from both scenarios in excel and see how your IRR compares - eg if you can realize the appreciation in 5 years vs 10 vs 15 years

It's interesting to see for yourself how a "50% appreciation!!!" scenario can lose out to a few years of steady cash flows

@Fred Stevenson

If you have a steady income and are in no hurry to "retire"

If you prefer to go after appreciation rather than cash flow 

Then the best play is to save up capital now and wait for the next crash. Buy when everyone else is selling. It may take 5 years or it may take 15, but we all know it is coming

I would still advise to only buy once the market drops enough that you can get positive or at least break-even (net net NET!!) cashflow. You need to be 100% sure you can hold on and ride the wave all the way back up, without getting bled dry by your "investments" 

In the meantime, it's not a terrible idea to get some experience by picking up a few rentals - especially if you can do it without depleting much capital, such as via BRRR strategy. Or even get into a syndicated deal. The more experience you can show, the higher chance that lenders will be willing to talk to you when there is "blood on the streets" and they are super skittish

Good luck!

D

@Nick Brubaker

@Naga A.

The meeting is on for Wednesday! Sorry for the rushed planning. Hope you are both able to make it!

Hi All!

@Dan Baker

@Nick Brubaker

@Naga A.

@Greg Christensen

I booked the venue for our first meeting here:

http://www.franzuya.com/about

http://www.keyuca.com/cafe/cafe-shop/franzuya/

Wednesday July 15th at 7:30 pm

It sounds like a few people are able to make it so far, but could you please reply back here or send me a PM to confirm? 

Hope to see everyone there!

-D

If the devil is in the details, then where is his advocate??

The difference between a newbie and a pro, is their understanding of all these "details" that you only learn from experience - which means they can possibly play closer to the "edge". Still no excuse to buy stupid

D

@George P.

Do tell? Not sure how you'd be able to guarantee this, besides not owning any houses? 

I remember reading about some reporter who briefly took title to the Empire State building as a stunt a (maybe not so?) few years ago. As long as there is paperwork, there will always be fraud. Trust that spidey sense!

Thanks for the heads up!

Not REI related but I recently ran into a scammer on Yahoo Auctions (yes, such a thing exists - big in japan lol). I'm sure there are similar ones going on at eBay etc

It was fishy from the start, they contacted me offering to buy outside of the auction system and gave their email. The address didn't correspond to the name they were using, shipping address in Malaysia, etc. I googled one of the misspelled phrases in the email, and found a bunch of JP blog posts about the scam. (The email was a template sent to a bunch of people - good way to spot / confirm by googling)

What I couldn't figure out is, what was the catch? They were asking for bank account details to wire in the money. I'm sure I never would have seen a dime come in, but it's not like giving them an account number allows them to pull out money remotely. Perhaps just a 'wholesaler' of stolen bank account details for a further "value add" scammer up the chain?

Caveat emptor

D

OK guys sorry for the delay! 

Let's do Wednesday July 15th at 7:30 pm in Omotesando

I'll post up venue details early next week

Hope to see everyone there!

-Dmitri

Thanks guys for the responses! If anyone else wants to have a say on the schedule, please reply by tomorrow. Will set the date tomorrow

@Trey Goodwin

Welcome to the site! It's definitely an invaluable resource

I would urge you to listen to all the podcasts - I know it's a big time commitment, but you will get so much out of it, even (especially?) from ones that don't seem to apply to your chosen niche. Keep a notepad handy while you're listening, and you'll get much more value for your time as well

Then, set up some keyword alerts for your local market, as well as your niche. The best part about BP is learning from all the other experienced folks out there. If you can find someone locally who does what you want to be doing - do anything you can to get under their wing, so to speak. Obviously being able to provide value to a potential mentor in some way is best, but just plain old enthusiasm mixed with a willingness to learn, and maybe just a touch of ego-stroking, will go a long way too!

Best of luck in your investing!

-Dmitri