All Forum Posts by: Account Closed

Nice. I think I have to learn to be more grateful. There are moments gratitude but living in it is something else I think I need to work on. Luckily on the other hand I think I have a natural abundance mindset. That's awesome you're giving 10% of your income, it's a great idea and I appreciate it. I totally agree with if you can't do it now you won't do it then. Growth is huge, reading books is an effective way to commit to consistent action. You're practicing and exercising personal discipline in order to expand your business and practical knowledge. Cool post. 

I like how you approached these goals with overarching aims rather than being super specific. I think both are necessary, and this makes me realize I've focused less on articulating my overarching goals in some ways. I'm aware of them and think about them but haven't written them down like I have my more specific, measurable goals. Without being overly specific, my goals now until I go back to work mid-April (travel job, 7 days, 13 hours) is to continue building more capital, but focus on building my knowledge foundation and creating relationships that support mine and the other persons objectives and aims. I have these written for myself, but one example is intently building a comfort zone in the market I'm going to be investing in. When I get out of work for the winter in mid-October, my goal is to use my saved capital to, depending on where the market is, flip or acquire properties. I'm a trained carpenter and painter so I'll pay myself to do the work which in my position makes sense. 

This last year I got a new job which will allow me to acquire capital to get started intelligently investing my own money in real estate, very grateful for that. Besides the obvious things like my country, family and friends that support my personal and professional journey, I'm grateful for my personal drive to be the best I can be and am excited to keep farming that. 

I really like your goals list, it can apply to anyone. I might use each of these. I'll be coming back to this post as a reference. 

In my life, I’ve been interested in different things to different degrees. Some deeply meaningful, some artificial, different topics, people, ideas… I’ve personally found seemingly unrelated interests I’ve had over my life often merge later in life and I benefit from having past experience in both. I know my life’s purpose, in a broad sense. I think everyone should. The key is to constantly better define your purpose to yourself, and experience it’s fulfillment. I was thinking how to merge a deep drive I have, to help people truly to the best of my ability, and my love of working within real estate. I believe work is something we all have to do on this earth. Contribute to society to support ourselves and our families, and provide a healthy foundation to give back to others. I want to use the opportunity to have this foundation we’ve been given in this country to the absolute best of my ability.

I was just thinking about a real estate non profit… It literally just entered my mind and I came on here to see what other people have to say about it. It’s a completely general discussion on the idea. I was thinking about the creation of a real estate investing business that gave 100% of profits back to people that need it the most in the world. Like innocent victims of war that are lacking food and water. I think it’s an idea people would get behind. Crowdfunding comes to mind. Also just investors that really want to make a true difference in the world. It’s a dream of mine to take advantage of our beautiful system and the wealth available in our country and spread the wealth to places that are in desperate need. Not spreading it through change in policy, spreading it through individual conscious efforts. True conscious capitalism. I’m not at all educated on non-profit tax codes and all that, that isn’t what made me think of it. It could be a possible way to create more wealth to turn convert into help, but even if that wasn’t available for this type of entity, just collecting 100% of profits and redistributing them with absolute transparency. I’d love some input, like I said this is something that just popped into my head that I’m going to explore.

I haven't listened to this episode of the podcast yet. Reading @Scott Trench's post gave me a view of the other side. I think you can share your goals with as many people as you meet, but it only means something when shared with certain people. People that are close to you and can appreciate and support you is one group I've benefited from sharing my goals with. Another more beneficial person to share goals with is someone close to you who has similar goals who you can bounce and build ideas off of and work together to achieve them. Sharing goals with acquaintances or someone that doesn't really care isn't going to hurt you but I personally don't like wasting time talking about something that's important to me with someone that doesn't place the same value on it. 

With real estate goals I like to practice a goal-oriented plan, there must be objectives to obtain during my planning stage, then there's an implementation, and the execution. It's premeditated on paper beforehand. While creating it, if I find it useful to use specific dates and attach numbers and deadlines to boost my performance, I do it. I personally know how I work best and create my goals to harmonize. I have elasticity with them, but I look into myself to know when I'm actually benefiting by adjusting them or if I'm doing it for the wrong reasons. Discipline is huge with goals. I don't see a reason to strictly tie myself to specific numbers all the time or on the flip side look at doing so as limiting me in any way. 

Have you thought about house hacking? Staying in one unit and renting the others? I think that allows you to get a homeowners loan with less down. 

Check out this link if you're considering wholesaling in Ohio: https://www.biggerpockets.com/forums/93/topics/184743-getting-busted-in-ohio-for-wholesaling-and-praticing-re-without-a-license

I think it’s the initial obstacles of funding, and just the fact that it’s extremely intimidating risking a large amount of your own money much less a large amount of other people’s money. It can be an intimidating business.

Are you assigning the contract or double closing? Curious.

I just read something about an Inspection Period. How you have a certain amount of time determine if the building is what you've agreed to buy, and if it isn't you're able to cancel the contract before the IP ends. That might be the answer to my question. It seems like something I wouldn't want to do though, get someone's hopes up about buying their home then canceling on them. Especially if they're distressed. 

I'm just asking a question, it seems like you're annoyed at something other than what I'm asking about... Maybe I didn't phrase my question well.

So say I'm doing my first wholesale deal, how do I tell my list of potential buyers the terms of the deal I have to offer them without first signing a contract and creating those terms with the seller I found?

I'm in the process of learning about it and it's just a question I have, I'm not considering doing anything in the way of scamming anyone or disguising any activity...

I'm studying wholesaling right now. One question I have is, say I get a seller to sign a purchase and sale agreement and have 21 days to find a buyer of my place in the contract... what if I can't find one? Do I find a buyer for the deal before I sign with the seller? Even then what if I sign with the seller then something happens and my buyer ends up not being able to buy?