All Forum Posts by: Dan Milinazzo

I think it's an acceptable time to roll out a small in person meeting with the understanding that people respect the rules and understand the environment we are all in.  I think testing the waters now is not unreasonable when you observe how the public is actually pretty split on "mask or no mask" on the daily.  A free-for-all would be irresponsible for all parties involved at this time.  As a host, it's probably not a bad idea to consider some of the policies that are being adopted around the area.  For example, on my construction sites my crews have to answer a small questionaire and on my bigger jobs the project manager is actually checking temps (but this is on a pretty busy union job site where a lost day could be detrimental).  I think its very reasonable to require masks and ask that people do no attend if they feel under the weather at all.  Social distancing will be a little harder and responsibly/safely enjoying some of the refreshments may be a challenge, but it it being done elsewhere.  May have to actually structure the mingle aspect a little more as you mentioned.  It's not like attendees are pre-paying a fortune for a ticket to attend, but being a patron of the establishment is always a nice way to help keep our local businesses above water until the environment calms down.  If I was able to attend tomorrow I absolutely would if for no other reason than to support you and your meet-up for all you have given back as well as the establishment hosting.  

@Mark Leclair seek out @Jeremy Beland he has a great social presence and is actively working on properties and posting about them so its cool to watch the deals he is working through with his team.  

@Jordyn Tetler welcome!  I spent a lot of time spinning my wheels here because there are SO many avenues to travel down it is very easy to get off track and feel discouraged.   That is obviously not ideal if you are serious about this endeavor.  @Jonathan Bombaci holds a good meet up and is actually trying an in person one not far from you tomorrow.  I recommend looking for that info here on the forums or reach out to Jon for the details.  If you are not ready to do face to face, which is totally fine, he is holding another virtual one Thursday.  If nothing else its just sometimes good to hear what other guys are doing.  I was blown away on a recent meeting when hearing some experience of local investors that are very active and doing it.  Imagine where they will be in 5 years!  Anyway, just surround yourself with the right people and hone in your model, listen to other paths, but really key in to the method that works for you. I'm local right down the street so add me to your network and feel free to reach out.  I am always happy to discuss!  Happy Investing!

@Richard Dale-Mesaros that's a great idea to have a visual representation of your Why! I just yesterday printed the word "Why" and put it up on the wall.  I assume you are familiar with Simon Sinek's book? 

@Ian Walsh great! Along the lines of Richard's idea and my putting the word "Why" on the wall.  I work slightly more than full-time so there are days that are harder to grind, but I need to keep the momentum and that's the type of stuff I'm talking about. 

@Kris L. My desk always faced a wall for that reason.  Sometimes I just have to look up from the screen and I want something to look at to reenergize me to keep grinding.  Like a visual espresso lol.  

thanks for the feedback. What other ideas do you all (BP community) have? my focus is BRRRR if that matters. And currently finding deals to data crunch that are not crazy far away is proving difficult.

That looks like a great tool for a team approach.  I appreciate you sharing that.  I'm considering a goal chart to keep my focus on chipping away at the core goals and a reasonable measure of time.  something like the attached image, but a little less "tacky" for lack of a better word. 

2012: Ok. I am settling into a new job at a new company. Now I am inside a legit public REIT (Real Estate Investment Trust). Maybe this will help use my skillset and learn through osmosis with a company that holds about 5000 doors in my region. Moved into our first home with my then future wife. Got the second unit of my duplex rented. Still not doing great at the "market rate" stuff. OK, I haven't landed any flips, maybe I need to wholesale. I mean I saw how one guy very clearly made $50k on paper from a property (see my 2011 experience) so it must be easy, right? I order up a bunch of bandit signs, set up phone lines, squeeze pages, you name it. While I am at it I might as well start posting for rent-to-own and build a buyers list of my own. Admittedly, these avenues were not my strength. I decide I need to double down on trying to find flips, though I was doing to casually and unintentionally.

@Jonathan Bombaci @Michael Ketchen you are guys I speak to more regularly outside of BP and that I consider successful, local, and relatable. What do you have going on in your new hampshire and lowell massachusetts offices? I don't have the doors you have, so I am less focused on tracking/managing current assets right now and more so prospecting for BRRRR or Buy & Hold?

After recently relistening to a few podcasts (namely #224 with Chris Clothier) talk about his backdrop came up.  He has large whiteboards all around him tracking things like seminar schedules, KPIs (key performance indicators), notes for publishing ideas, and general imporant notes.  As I look around my office, namely the wall behind my triplicate monitor set up I notice a stark backdrop with a single decoration.  A gift from my mother-in-law.  A personalized clock with the following inscription "SUCCESS is not something that happens in the future.  Success is made up of LITTLE STEPS taken RIGHT NOW" with my name engraved in a chrome plate.  It's a nice touch and always in my view.  I also have a map of New England with map pins and string outlining my outer market boundary and a custom color coded map of the same with my target areas color coded by distance.  I also have the most perfect version of a handrawn lady bug from my 4 year old daughter!  

I feel that my hours of grinding away at my computer screens I need a little more on the wall for my view and motivation.  The area I am working with is about 3'x4'.  I have other things in my office standard wall calendar, small wall mounted book shelf, degrees, and some Frank Lloyd Wright/Architectural Prints/Photos, but I want to declutter them and focus my office envelope into more purposeful, motivational, and task oriented.  The popularity of Zoom/Webex meetings made this more obviousl as I observe the various background of co-workers, collegues, and fellow investors.  

What do your office walls look like? 

2011: I have decided with my background that Flips are going to be my strategy. I hook up with a few “wholesalers” run some numbers, kick a lot of tires, and find a possible winner. Time to work up some excel sheets to tell me how rich I will get (right?)!! I grab a buddy of mine, in an attempt to convince him to Project Manage for me as I show him how I work numbers and we hit the property for a scope tour. The wholesaler’s numbers seem off, so I start digging into it. I would need to get this thing for about $30k less than what he is asking for to make the numbers work for me. From my deed/sale tracing I find out the wholesaler does in fact own the property. However, he bought and resold the thing to 3 different entities (all of which he owns) in a year and each time selling it back to himself for a few more bucks every time. After the 3rd resale he has sucked $50k of profit out of the deal and wouldn't you know my numbers don't make sense now. I put the offer in anyway and get rejected. Back to the drawing board. I now have some workable formulas now though and have exercised some analytic muscles. Ok, I got closer to a deal here, so I decide I need to get an LLC and website set up so I can really act on the next one. Over the past year I have assembled "bank books" for presentation to lenders (never actually presented), joined a few REIAs, attended a few meetings, and signed up for a few paid membership accounts to access all the "secrets" (yeah, more guru type) and made some contacts, and just kept looking at properties.

May sound like a dumb question, but did you Double check terms.  We have a 6 month policy term with progressive and 12 month with another company.