All Forum Posts by: Ellis Hammond

@Jessica Labos always a good convo starter here on BP when you ask what to do with a million dollars! haha great job!

I agree with @Ivan Barratt do your research and talk with people like myself or him about advantages in a syndication. Im guessing you will want to enjoy your retirement so taking on a fix and flip job is exactly that... a job!

I know you said you wanted to stick with real estate but very few folks are finding great deals in multi-family right now. Its caused me to look in other areas like self storage, ATM's, and even coal which are all producing 20%+ returns for my community of investors. 

Then in a easier time to find deals in real estate use all of that cash to purchase more passive income producing real estate!

@Michele B. next time you are in San Diego lets go car shopping! do you have a certain dealer you negotiate with that helps you get deals like this? also, can you speak about how you are able to write this off? do you have your own LLC or is this with a larger company you work for?

@Dominique Pradel-Lewis good for you! do you not like to have debt or just think this is a better long term strategy?

@Matt K. whats your background? I'm taking it that you prefer the lease route so you can drive these cars?

@Caleb Heimsoth thanks for the "rant" haha and I'm not necessarily interested in driving a top of line mercedes or Ferrari but don't you think as an investor we actually can have both?? if we figure out creative ways to take advantage of leverage, financing, etc? thats really the point of this question.

May 2018 YOY home sales down 6.1%

May 2018 YOY Months of unsold inventory up 11.5% (2.9 months of unsold inventory)

Still in a  relatively strong market and housing prices continue to go up but do these #s give you concern? 

@Brendon Woirhaye Thx for the reply! 

What about making money in the long run though or investing currently? Would you recommend still buying if i can take the 20-30K and put it into another investment vehicle (not talking about cars now lol)

This was a convo my family had around the dinner table last night as some are leasing and some are buying their car. I was wondering what the BP community thought about leasing a car. 

Lets make the assumption that you want a new car, can afford a $150-$300 payment and would plan to pay off your car in 10 years or less if you decided to finance to purchase. 

@Michael Plante i currently own two! helping to raise equity for larger MF syndications and will also invest alongside of those to get involved.

@Kenneth Garrett my partner @Jonathan Wiener uses it. He likes it a lot. reach out to him for more info. he can give you better answer but what i like is that if the numbers on it make sense @Michael Blank will fund your deal! What a guy!

My wife and I sat down a few weeks ago to set a salary goal of where we want to be in 5 years. This was a huge thing for us bc to be honest we never dreamed of making more than a $150k/year in our lifetime until this past year. I've spent my early career working for a non-profit and thought that would be the extent of my impact and even though we love our jobs we'll pretty much be broke!

I was my own worst enemy and limiting the impact God has called us to have bc of my mindset!

We set a huge goal for us to make $750k a year in five years! We set goals beside every number we made like 

• buying a retreat center for the ministry we run, 
• providing monthly income for our parents,
• taking college students to international ministries we support to show them the world and its needs are much bigger than them (CAN I GET AN AMEN?!).

Our action steps are detailed as well but ultimately we want to own 1200+ apartment units by that time frame. 

Love to know what the BP community is dreaming of and the change we are planning to make together! love this community and thankful for the individuals who have helped us get started

@Jonathan Wiener

@Jonathan Wiener

@Matthew Rayl connected with a broker on a plane to Mexico few days ago and currently helping older military couple us VA loan for investment property near SDSU area (Where i live). He seemed to have his stuff together and done lots of VA loan with investment strategy bent. Told him we'd connect when i get back so ill hit you up after we get back from our summer trip and lets connect with him!

also threw some ideas around new development in our area together! Hopefully good partnership to come. Y

Hope all is well brother! look forward to seeing you soon.